There’s serious concerns from Nebraska U.S. Senator Ben Nelson on the government’s financial bailout plan. Nelson told us that 700 billion dollars is a lot of money.
“The taxpayers did absolutely nothing to cause this crisis, Wall Street’s reckless excess and greed along with the relaxed federal oversight really are blamed for this worse financial turmoil since the Great Depression.”
There’s some agreement on congressional oversight and mortgage help, but a sticking point remains whether there should be limits on payouts to Wall Street executives.
Nelson told us what he wants the priority to be.
“We must eliminate the golden parachutes, that’s what I really want to focus on and the big bonuses that were paid to a lot of these big executives that walked out the door after making these risky investments.”
Nelson says he also wants to help struggling homeowners through their mortgage problems.