Dear Friends:
Last night I was joined by 73 of my Senate colleagues in voting to approve a bipartisan plan to rescue the nation's failing economy.
Many of you know that our nation faces a serious financial crisis. Though its effects have not been felt in much of North Dakota yet, America's leading financial experts are warning of a financial meltdown that could lead to three to four million people losing their jobs in the next six months.
Make no mistake. My vote was not about Wall Street. I voted to protect families, workers, and retirees on every main street in every city and town in North Dakota and across the nation.
That is why it was so important to improve upon the Administration's original $700 billion economic rescue plan. The Administration's proposal was deeply flawed and did not protect the American taxpayer. I was part of a bipartisan group that changed the Administration's proposal from a plan to bail out Wall Street into a plan to protect Main Street.
Like many of you, I am outraged at the situation we find ourselves in. After this rescue plan is in place, those that contributed to this steep downward spiral will be held accountable. To that end, I have written the Attorney General and asked that the Department of Justice investigate any potential cases of criminal fraud that may have led to the financial mess we now face.
But right now we need to concentrate on implementing this rescue plan and then begin the hard work of rebuilding our nation's economic strength. We have overcome great challenges like this in the past. With your help, we will do so again.
In the coming weeks, I will continue my series of community meetings across North Dakota where I will be talking to many of you directly about the financial crisis and my ideas for addressing a plan for energy independence. I look forward to seeing you soon.
Sincerely,
KENT CONRAD
United States Senate
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