Ralph Nader slams bank bailout plan

Oct. 17, 2008 at 11:58 AM
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NEW YORK, Oct. 17 (UPI) -- Independent U.S presidential candidate Ralph Nader said during a New York appearance that the bank rescue plan only helps large corporations.

Appearing in front of New York's Federal Hall this week, Nader told a crowd that the government's $700 billion bailout does little to help the average citizen while strongly benefiting "speculative corporation," The New York Times said Friday.

"There are no bailouts for the working people of this country," the 74-year-old lawyer and consumer advocate said. "Just bailouts for the speculative corporations of this country."

Following Thursday's rally on New York Stock Exchange, Nader continued his broadside against government attempts to fix the nation's troubled economy.

"Taxation without representation, no public hearings," he said of the bailout plan. "This is the worst yet, procedurally and substantively."

The most recent New York Times/CBS News poll found that only 3 percent of respondents favor Nader in the November general election. No margin for error or respondent numbers were given.

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