In a press release, independent David Krikorian’s congressional campaign touted the fact that part of his plan for the economy was adopted by the Fed, and lambasted his opponents’ debate performances. A video of the debate is posted below.
Concerning the Fed’s plan, Krikorian said,
Krikorian for Congress issued the The Krikorian Plan, currently a 19-point plan to restore our nation’s economic security. In Mr. Krikorian’s plan, he urged the government to “address the short-term liquidity needs of American businesses… by [having] the Treasury [offer] market rate collateralized loans to organizations that are unable to fund operations traditionally.” On October 7, 2008, the Federal Reserve did just that. The action taken by the Federal Reserve confirms David Krikorian’s assertion, as stated in the October 6, 2008 debate, that the bailout plan would not help businesses and local communities, but rather was directed to help Wall Street.
And concerning his opponents, the campaign said,
“Representative Schmidt’s lack of leadership on economic issues with her unprincipled decision to support the bailout were clearly on display during the October 6, 2008 debate when she stated that she just learned of the financial crisis facing the United States two weeks ago,” said David Krikorian. “Representative Schmidt didn’t have to vote for a $850 billion “give-away” and stick the taxpayers with the bill, but she did. Though this will do nothing to address the economic crisis we face today, I’m sure her vote will make all the financial PACs who contributed to her campaign very happy.”
“Regarding her October 7, 2008 press release,” says Krikorian. “The only thing “dangerous” and “naive” is Representative Schmidt’s belief that she can take the financial industry’s special interest money and sell us down the river without a fight. The voters have had enough. Throughout my campaign, I have highlighted the risks facing our economy and have taken action to protect the American people, while my opponents have remained virtually silent. In addition to The Krikorian Plan, I have issued numerous press releases and public statements (see KrikorianForCongress.com) regarding critical economic issues and my plans to address them. On July, 16, 2008, I sent a letter to both the House and Senate advocating fully funding the FDIC. Since this was more than two weeks ago, it must have been before Representative Schmidt realized we had a financial crisis.”