Protesters demand other solutions to Wall Street crisis

A group of protesters gathered outside Rep. Nita Lowey?s office Wednesday afternoon to voice their opposition to the $700 billion Wall Street bailout. Protesters say alternatives to the current bailout

News 12 Staff

May 28, 2014, 6:55 PM

Updated 3,712 days ago

Share:

A group of protesters gathered outside Rep. Nita Lowey?s office Wednesday afternoon to voice their opposition to the $700 billion Wall Street bailout.
Protesters say alternatives to the current bailout plan should be examined, including ways that would prevent struggling homeowners from losing their homes. They want Rep. Lowey and the rest of Congress to help the average homeowner instead of Wall Street financial firms.
"We want her to listen to the people who are being affected by these policies," says demonstrator Nick Mottern. "She?s very influential in the Congress."
According to the Web site OpenSecrets.org, Lowey's top campaign contributor this year was Bear Stearns, the former Wall Street firm that already received major financial help from the government. That is why Lowey?s Republican challenger, Jim Russell, thinks the congresswoman should not vote on a bailout.
"She had a vantage point in Washington,? Russell says. ?She could have started warning the people and introduced legislation to regulate the industry last summer."
Lowey's spokesperson, Patricia Keegan, appeared before protesters and read the Congresswoman?s statement, in which she says that ?Congress should not write the administration a blank check with no strings attached.?
Lowey is joined on Capitol Hill by other members of the New York delegation who are troubled by the lack of detail in the $700 billion financial rescue plan that remains a work in progress for both parties.
Republican presidential candidate Sen. John McCain announced Wednesday afternoon that he is suspending his campaign and called on his opponent, Sen. Barack Obama, to join him in Washington to develop a bipartisan bailout plan as soon as possible.
For extended footage of the protest against the $700 billion bailout plan in White Plains, go to your digital cable box and select iO Extra, Channel 612.


More from News 12
1:52
Hudson Valley doctors warn of listeria dangers following multi-state outbreak

Hudson Valley doctors warn of listeria dangers following multi-state outbreak

2:04
Sunny skies and warm temps for Saturday in the Hudson Valley

Sunny skies and warm temps for Saturday in the Hudson Valley

0:38
Multimillion-dollar transformation on the way for sections of Hudson Valley

Multimillion-dollar transformation on the way for sections of Hudson Valley

0:49
New basketball documentary film 'The Process' has ties to Westchester

New basketball documentary film 'The Process' has ties to Westchester

0:49
Olympic watch party in Pomona cheers on Rockland athletes

Olympic watch party in Pomona cheers on Rockland athletes

0:32
Veteran firefighter who suffered stroke receives warm welcome home

Veteran firefighter who suffered stroke receives warm welcome home

0:17
Yorktown police sergeant celebrates final walkout following 2 decades of service

Yorktown police sergeant celebrates final walkout following 2 decades of service

1:40
Lithium-ion battery fire blamed for closure of Newburgh tailor shop

Lithium-ion battery fire blamed for closure of Newburgh tailor shop

0:52
Slate Hill family of 5 loses home in afternoon blaze

Slate Hill family of 5 loses home in afternoon blaze

0:37
2 people charged in Middletown narcotics; firearms bust

2 people charged in Middletown narcotics; firearms bust

1:30
Motorcycle, van crash in Greenburgh causes serious injuries

Motorcycle, van crash in Greenburgh causes serious injuries

0:56
News 12 probes mystery cloud traced to Orange County & seen throughout tri-state area

News 12 probes mystery cloud traced to Orange County & seen throughout tri-state area

1:02
Hillcrest Fire Department receives 2,000 cans of drinking water, courtesy of Anheuser-Busch

Hillcrest Fire Department receives 2,000 cans of drinking water, courtesy of Anheuser-Busch

1:37
Storm Watch Team Meteorologist Skyler Harman strikes down lightning myths

Storm Watch Team Meteorologist Skyler Harman strikes down lightning myths

2:33
Can swimming become dangerous due to extremely high water surface temperatures?

Can swimming become dangerous due to extremely high water surface temperatures?

0:32
NYC officials: Westchester caseworker’s death ruled a homicide

NYC officials: Westchester caseworker’s death ruled a homicide

0:40
State, federal lawmakers introduce legislation to shorten funding gap for World Trade Center Health Program

State, federal lawmakers introduce legislation to shorten funding gap for World Trade Center Health Program

0:34
Ex Frito-Lay employee files defamation lawsuit against PepsiCo claiming he invented ‘Flamin’ Hot Cheetos

Ex Frito-Lay employee files defamation lawsuit against PepsiCo claiming he invented ‘Flamin’ Hot Cheetos

0:40
Executive orders still in place preventing Rockland County and Orange County hotels from converting into migrant shelters

Executive orders still in place preventing Rockland County and Orange County hotels from converting into migrant shelters

0:34
Finger in salad lawsuit against Chop’t discontinued

Finger in salad lawsuit against Chop’t discontinued