U.S. CONGRESSMAN JOHN SHADEGG REPRESENTING THE 3RD DISTRICT OF ARIZONA

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Washington, Sep 22, 2008 - Congressman John Shadegg (R-AZ) made the following remarks this evening on Bloomberg Television’s “Money and Politics” program:

“Quite frankly, if you carefully examine what happened here, the government largely created this problem.  It was easy credit policies by the Congress, easy credit policies by the Federal Reserve, and easy credit policies and abuse, quite frankly, by Fannie Mae and Freddie Mac that got us into this mess.  And, I’ve seen nothing in what’s been proposed so far that is going to go at that problem.  The problem here is that the government created this, and Congressman created it.  Now we see the two Chairs on each side, adding all kinds of things to the bill.  I think the last thing you do when government policies get you in trouble is write a blank check to the government.  So, do I think we have a problem to address?  Yes.  Do I think we have all the right answers?  I’m not convinced yet.”