Representative Anthony Weiner explained to reporters on a conference call this afternoon how the federal bailout plan, despite considerable constituent blowback, actually helps the middle class.
Weiner described what’s happening with the financial markets now as a “middle-class problem." He said if "you can’t get a car loan and if you’re a middle-class person trying to get to work, then this credit crisis is your problem.”
He also painted a sketch of the how the Wall Street crisis directly impacts the middle class, referring to homeowners who might “live on a block with two foreclosures” or employees working “in a second-tier job at Lehman Brothers, a second-tier job at A.I.G.”
Also, I asked Weiner if Michael Bloomberg should play a role in overseeing this federal fund that will buy these assets from Wall Street.
“I think Mike Bloomberg has a lot that he can offer here and he has said in no uncertain terms that he wants to serve his country and I think we’re all grateful for that,” Weiner said.