AP
“I believe if the credit markets are not functioning, that jobs will be lost, that our credit rate will rise, more houses will be foreclosed upon, GDP will contract, that the economy will just not be able to recover in a normal, healthy way.” –Fed Chairman Ben Bernanke “Nobody is happy.” – House Majority Leader Steny Hoyer, D-Md. “I understand speed is important, but I’m far more interested in whether or not we get this right.” – Rep. Chris Dodd, chairman of the Senate banking committee “What he is saying here is, this program that they think is very important, we need it to get the economy out of the doldrums, but if it is going to nick them of a couple of million of the millions that they already have, they are going to boycott it.” – House Financial Services Committee Chairman Rep. Barney Frank on Paulson’s objections to restrictions on CEO pay-outs “Just because God created the world in seven days doesn’t mean we have to pass this bill in seven days,” said Rep. Joe Barton, R-Texas. “You worry about taxpayers being on the hook?” he replied at one point. “Guess what – they’re already on the hook.” – Treasury Secretary Henry Paulson “If we get consensus and everybody is popping champagne, then I’ll probably go back to campaign with folks who are having a tough time in Ohio and Michigan,” Mr. Obama said. “If this ends up being a close vote or a vote where the outcome is at all in question, then obviously this is a top priority.” – Sen. Barack Obama “Whether calling for a bipartisan oversight board or prohibitions on golden parachutes, Barack Obama is simply following in John McCain’s footsteps while trying to respond to this financial crisis, as he followed in John McCain’s footsteps when he attempted to respond to the recent crisis in Georgia.” – Tucker Bounds, spokesman for the McCain campaign “The truth is, every time somebody tells you that you’ve got to do the deal right now, it usually means they’re going to get the better part of the deal.” – Rep. Mike Pence, R-Ind. “The party is over for this compensation for CEOs who take the golden parachute as they drive their companies into the ground. … The party is over for financial institutions taking risks [and] at the same time privatizing any gain they may have while they nationalize the risk, asking the taxpayer to pick up the tab.” – House Speaker Nancy Pelosi, D-Calif. “This massive bailout is not a solution. It is financial socialism and it’s un-American.” – Sen. Jim Bunning, R-Ky. “I think you should think of that as unthinkable.” – Tony Fratto, White House spokesman, when asked what would happen if the bail-out didn’t pass “They are saying this is failure of the free markets of capitalism when, in fact, this is a failure because government injected itself into the free market, created this easy credit, these guaranteed loans, and these loans are what have turned into the bad paper that are bringing all these financial institutions down.” – Sen. Jim DeMint, R-S.C. “Nobody wants to do this. Nobody wants to be involved in this. Nobody wants to take the chance, but I would argue… if we do nothing, we are jeopardizing our economy, jobs and people’s retirement security.” – Minority Leader Rep. John Boehner, R-Ohio “What troubles me most is that we have been given no credible assurances that this plan will work. We could very well spend $700 billion and not resolve the crisis.” – Sen. Richard Shelby, R-Ala.
