U.S. Rep. Nancy Boyda, D-Topeka, on Tuesday criticized President Bush's bailout proposal for Wall Street.
"President Bush is asking Congress for sweeping new power with no judicial review, no effective oversight, and no real limit on the money that can be spent," Boyda said.
"He's trying to ram it through with little debate by sowing fear and anxiety. I don't like those tactics, and I don't like his proposal," she said.
Boyda said she will work to develop a plan that minimizes expense and maximizes profits for the taxpayer.
She said she wants to restore the availability of credit, protect responsible banks, enact new regulations and prevent those responsible for the meltdown from profiting in the bailout.
"We can't pay for every bad decision that anyone ever made in this country," she said. "Our goal should be the best deal for the taxpayer that gets the markets running again. I think Bush's plan fails on both counts. It takes from the taxpayer for Wall Street's benefit, but it doesn't provide the capital the banks need to get this country moving again."