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Reid Statement On New Treasury Plan

Senate Majority Leader Harry Reid released the following statement in response to the plan unveiled today by Treasury Secretary Tim Geithner to buy bad bank assets:

"The Treasury Department plan is based on the sound principle that if we are to revive our economy, we must unfreeze the credit markets so people can get the loans they need to keep their small businesses open, buy a car or send their children to college. Like any investment, this plan carries the potential for both risk and reward. But above all, we must act - one risk we will not take is standing on the sidelines and doing nothing while a bad situation gets worse."

Reid has continued to hammer Republicans as 'do-nothing' legislators, as he implied in the last sentence of his statement. At an off-camera briefing with reporters Thursday, Reid took a few shots as well. "Once again Republicans are doing what they've always done in this Congress -- and that is to do nothing," he said. And later he added: "The problem we have here is the Republicans don't want us to get anything done."

Reid noted from the Senate floor today that Republicans blocked his attempt to get the House's AIG bonus tax bill passed quickly last week as unanimous consent legislation and that he's awaiting their cooperation.

"Despite last week's Republican objection to passing the AIG bonus bill, we will continue to work to right this egregious misuse of taxpayer funds," Reid said. "Republicans have asked for more time to study the legislation. With Republican cooperation, we can quickly and responsibly return these funds to the American people."