Peter Monroe, Former President of the RTC Oversight Board, Endorses Senator Obama

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TAMPA, Fla., Nov. 3 // -- Peter Monroe, a Florida Republican, who served as President of the Resolution Trust Corporation Oversight Board from 1990 to 1993 under Presidents Bush and Clinton and who preceded Senator Obama by 20 years as a Harvard Law School graduate, today strongly endorsed Senator Barack Obama for President of the United States.

    "The economic crisis that we face today is far more intricate and globally pervasive than the situation that we faced in dealing with the savings and loan crisis in the late 80's and early 90's," said Mr. Monroe, who graduated from Oxford University with an honors M.A. degree in economics. He continued, "We face a 'perfect storm' of economic downturn and credit crunch, led by the economic and financial meltdown of the housing and mortgage sectors.

    "We cannot afford to have a President at this time that has openly stated in effect that he is 'economically challenged.' Florida, Texas, California, Louisiana and other states affected by natural disasters cannot afford to have a President that, when asked whether we should have a federal catastrophe insurance program, responded with the notion that we 'already have disaster insurance, we have FEMA.' Tell that to the Katrina victims whose houses were replaced with temporary, toxic mobile homes," he emphasized.

    Mr. Monroe stressed, "As President Clinton recently said to Floridians, we need to have a President who has the 'capacity to understand' issues. We need to have a President who understands the opportunity cost of the Iraq war in terms of 'blood and treasure.' We need to have a President willing to tackle the politically difficult problems facing present and future generations such as health insurance, social security and global warming. We need to have a President who will be clear thinking in a crisis, able to listen to all points of view, and willing to reach out to the savviest advisers, regardless of party, such as Paul Volcker, Warren Buffett, Colin Powell and Chuck Hagel, as did President Kennedy, rather than a President more likely to be hot-headed, when faced with rationally based contrary positions.

    "Florida and the United States have the opportunity to vote for one of the 'best and brightest' as president -- without a doubt such person is Senator Barack Obama," Monroe concluded.

    Contact: Peter Monroe, +1-727-643-6303, pmonroe@wilherst.com
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