Wednesday, February 11, 2009

Boehner Statement on Secretary Geithner’s Financial Plan

House Republican Leader John Boehner (R-OH) yesterday issued the following statement on the troubled assets program outlined by Treasury Secretary Timothy Geithner this morning:

“The Administration’s action must not open the door for even greater federal involvement in – and taxpayer support of – our financial system, and it is critical that we have a better grasp of the program’s true cost before moving forward. It is imperative that this plan becomes the first step toward an exit strategy that gets the federal government back out of the private sector. To date, federal officials have failed to detail any such exit strategy. However, Secretary Geithner is to be commended for finally including some of the taxpayer protections that House Republicans have fought for from the outset of the TARP program. Setting strict executive compensation limits for institutions accepting taxpayer dollars is an important step toward better disclosure and more accountability in a program that has failed to meet expectations.”

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