FOR IMMEDIATE RELEASE:
October 2 ¸ 2008

Roy Carter, 5th district Democratic Congressional nominee, says Virginia Foxx’s vote against the financial rescue plan is yet another example of her putting politics above the people. "Virginia Foxx helped create the problem and now she’s unwilling to be part of the solution," said Carter. "She cares more about getting re-elected than she cares about the economy of the district."

There are growing signs the financial crisis is costing people their jobs. This week Spectrum Yarns Inc. blamed the credit crunch for its decision to close plants in Marion and Kings Mountain, putting 200 employees out of work. The company said it lacked financing to make payroll or buy yarn. Also, Pine Hall Brick President Fletcher Steele told the Winston-Salem Journal that business is down 40% from a year ago. Steele said he is philosophically opposed to the bailout but supports it because it’s needed.

Sixth district Congressman Howard Coble, who voted against the bill on Monday, voted for it today. U-S Senator Richard Burr, who represented the fifth district in the U-S House from 1994-2004, also voted for the bill.

"This rescue package is not about helping Wall Street CEO’s," said Roy Carter. "I coached high school football for 40 years and taught science in the public schools. I am not a wealthy man. The bill has its flaws-there is too much pork. But part of being a responsible leader is doing the difficult thing."

During her career in Congress, Foxx has received $346,812 from the financial services industry, according to the Center for Responsive Politics. Last year Foxx voted against a bill to tighten regulations on the subprime mortgage industry. Just last month Foxx voted against HR 5244, the Credit Card Holders Bill of Rights. The bill requires advance notice of credit card account rate increases and prohibits double cycle billing.

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