John McCain

we ar in the greatest financi_crisi of our lifetim __PUNCT__

congression inact ha put everi american and the entir economi at the gravest risk __PUNCT__

yesterdai the countri and the world look to washington for leadership __PUNCT__ and congress onc again came up empti __PUNCT__ hand __PUNCT__

i am disappoint at the lack of resolv and bipartisan good will among member of both parti to fix thi problem __PUNCT__

bipartisanship is a tough thing __PUNCT__ never more so when you try to take necessari but publicli unpopular action __PUNCT__

but inact is not an option __PUNCT__

busi all over the countri cannot borrow to financ their own oper and pai their bill __PUNCT__

if we do noth __PUNCT__ mani mai fail __PUNCT__

sonic corpor __PUNCT__ a drive __PUNCT__ in restaur chain base in oklahoma __PUNCT__ learn on thursdai that on of it lender __PUNCT__ ge capit __PUNCT__ had stop extend new loan to the chain franchise __PUNCT__

that will block plan to rebuild restaur __PUNCT__ add equip and open new locat __PUNCT__

when small_busi like sonic franchise can't borrow __PUNCT__ contractor don't get the remodel work __PUNCT__ equip __PUNCT__ maker lose sale __PUNCT__ and restaur go out of busi __PUNCT__

it hurt the entir commun __PUNCT__

when financ dri up __PUNCT__ student can't get loan __PUNCT__

in wisconsin __PUNCT__ more than __NUM__ milwauke area technic colleg_student couldn't access privat loan to fund their educ __PUNCT__

fortun the school wa abl to come up with emerg loan __PUNCT__ but thi temporari arrang cannot continu __PUNCT__

market need to work so that peopl can get financi help and student can be educ __PUNCT__

again __PUNCT__ inact is not an option __PUNCT__

in light of the hous failur to act __PUNCT__ thi morn __PUNCT__ i spoke to the presid about two thing that the administr ha not done __PUNCT__ but should do follow the inact of congress __PUNCT__ first __PUNCT__ the treasuri ha alreadi us it exchang stabil fund to back monei_market account __PUNCT__

i encourag it to us it thi fund as creativ as possibl to provid backstop for account across our financi_system to maintain confid on the part of saver and investor __PUNCT__

and second __PUNCT__ the recent hous_bill gave the govern nearli __MONEY___trillion in author to purchas mortgag __PUNCT__

hous and mortgag ar at the root of thi crisi __PUNCT__

i encourag treasuri to take action to shore up mortgag valu __PUNCT__

the administr can take these action with the stroke of the pen to help allevi the crisi grip our economi __PUNCT__

i urg them to do so __PUNCT__

also __PUNCT__ the fdic should quickli be grant the author to increas the deposit insur cap from __MONEY__ to __MONEY__ so that famili do not have to worri about their monei __PUNCT__

we cannot allow a crisi in our financi_system to becom a crisi in confid __PUNCT__

i call on everyon in washington to come togeth in a bipartisan wai to address thi crisi __PUNCT__

i know that mani of the solut to thi problem mai be unpopular __PUNCT__ but the dire consequ of inact will be far more damag to the econom_secur of american_famili and the fault will be all our __PUNCT__

i will continu to do whatev i can to aid in a construct answer to the challeng befor us __PUNCT__