“I am disappointed by today’s failed vote on the financial market recovery legislation that was before the House. As evidenced by the immediate sell off on Wall Street that took place when the vote failed, we must take action.
I voted in favor of this legislation because I thought it was what was best for the American economy and for the people of Staten Island and Brooklyn. Now is not the time to assign blame or for partisan bickering. It is even more important now that everyone, Republicans, Democrats, and the administration, come together in order to protect the American economy. The real potential losers today are anyone who has a pension plan, an IRA, a 401k, or are attempting to borrow money to buy a home, a car, for student loans, or for any reason.
In the 10 minutes following the votes the Dow Jones Industrial Average lost 500 points; the Markets overall lost hundreds of billions of dollars in market capitalization. This was felt by everyone regardless of political affiliation. It is my hope that all sides will return to the table immediately and produce legislation that will pass the House, the Senate, and be signed by the President absolutely as soon as possible.”
