Treadwell Statement

HALFMOON, NY (09/17/2008)(readMedia)-- Sandy Treadwell, Republican, Independence and Conservative Party Candidate for the 20th Congressional District, issued the following statement on the turmoil in the U.S. financial markets:

"The Federal Reserve's $85 billion loan to "rescue" American International Group (AIG) highlights the failure of our federal government to provide needed oversight of financial markets.

"It's clear that Washington has failed miserably to provide the necessary oversight of the investment and lending industries, causing the mortgage foreclosure crisis and a panic on Wall Street that's costing people their jobs, their homes and devastating their retirement accounts.

"For too long, our representatives in Washington have looked the other way as moneyed special interests have advanced reckless, complicated and incomprehensible financial instruments that raised their earnings, but now have put hardworking families' homes and savings at risk.

"People who work hard and are saving money for retirement or to buy a house should be protected and not have to pay the price for reckless policies of the financial industry and a cozy ‘go along to get along' Washington culture that is beholden to special interest contributions.

"According to OpenSecrets.Org Center for Responsive Politics, Private Equity and Investment firms have contributed $14 million dollars to federal candidates in 2008. According to that same source, Kirsten Gillibrand is the 6th leading recipient of these contributions among her 435 colleagues in the House of Representatives.

"People work too hard to see their homes at risk and their savings jeopardized because elected officials in Washington aren't doing their jobs - I pledge to put people first."

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