NEWS RELEASE

February 3, 2010

Mongiardo Challenges Senate Opponents To Support Fee On Wall Street Bank Profits To Repay Bailout

Mongiardo: "Kentucky Families Need A Senator Who Will Fight for Main Street --- Not Just Wall Street." 

LEXINGTON---Following an appearance before the Kentucky County Judge/Executive Association in Lexington today, Lt. Governor and Democratic U.S. Senate candidate Daniel Mongiardo challenged his Senate opponents to join him in supporting a temporary fee on Wall Street's largest banks to recover taxpayer dollars still owed on the Wall Street bank bailout.

The temporary fee would be placed on Wall Street's largest banks until the $117 billion owed to taxpayers for the bank bailout is repaid. 

Speaking before the group about the need "for a Senator who fights for Main Street-not just Wall Street," Mongiardo said he was "the only candidate in this Senate race who has voiced support for a fee on Wall Street's largest banks to repay the bailout and voiced opposition to Ben Bernanke's confirmation for another four years as Federal Reserve Chairman."

"While Wall Street banks are paying record bonuses, Kentucky families and small businesses on Main Street can't get a loan to refinance their homes or expand their businesses. While Wall Street makes record profits, Main Street struggles-and that needs to change," said Mongiardo.

"The other Senate candidates have been completely silent on forcing Wall Street banks to pay back the taxpayer funded bailout or on reconfirming Ben Bernanke as Chairman of the Fed. Kentucky voters deserve to know which candidates support Wall Street or Main Street," said Mongiardo.

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