Dem Senators to Reid: Ensure Regulations, Taxpayer Protections in Bailout

A group of Democratic senators sent a letter to Senate Majority Leader Harry Reid (D-Nev.) today urging him to include financial regulations and taxpayer protections in any bipartisan agreement on a Wall Street bailout package.

The group was comprised of Sens. Barbara Boxer (Calif.), Diannie Feinstein (Calif.), Tom Harkin (Iowa), Amy Klobuchar (Minn.), Blanche Lincoln (Ark.), Ben Nelson (Neb.), Bill Nelson (Fla.), Ken Salazar (Colo.), and Jim Webb (Va.).

The senators asked for a new financial regulatory structure, bailout funds to be doled out incrementally, limits on compensation packages for executives of bailed out companies, for assets to be purchased as “contingent shares” with an eye on protecting taxpayers.

Read the letter after the jump.

The Honorable Harry Reid
Majority Leader
United States Senate
Washington, DC