Wes Hickman (202-224-5972) or Kevin Bishop (864-250-1417)

WASHINGTON – U.S. Senator Lindsey Graham (R-South Carolina) today made this statement on the Wall Street rescue plan proposed by Secretary Paulson and congressional efforts to place limits on executive compensation.

On the Proposal from Secretary Paulson:

“I respect Secretary Paulson, but no individual should have this much ‘blank check’ authority.  The oversight and accountability provisions in the initial proposal were limited and must be strengthened. 

“It is imperative Congress work quickly and cooperatively with the Administration to address our financial problems before they get worse. 

“I realize any proposal will not contain all provisions I like or support.  I do hope however we give further consideration to the creation of an independent board made up of Republicans, Democrats, and Independents who would have oversight over any government’s expenditures on a rescue plan.  There is merit in this approach and I hope it would be an essential ingredient in any bailout plan.  We need to bring the best minds in our nation together to help solve a very difficult problem. 

“Now is the time to focus on solutions, not empty rhetoric.” 

On Limits on Executive Compensation for Participating Firms:

“Taxpayers should not subsidize multi-million dollar buyouts for CEO’s and other top managers who created this problem.  If a company participates in a proposed government rescue plan, there should be limits on the executive’s compensation.  They should not be rewarded for their massive failures.  The last thing we need is an executive of a failed firm walking away with millions.”

#####

Wes Hickman (202-224-5972) or Kevin Bishop (864-250-1417)

WASHINGTON -- U.S. Senator Lindsey Graham (R-South Carolina) today announced that due to agricultural losses caused by drought and excessive heat, the U.S. Department of Agriculture has declared 44 of the 46 counties in South Carolina as primary disaster areas.  Beaufort and Charleston counties have been designated contiguous disaster areas.

“This is welcome news for South Carolina’s farmers,” said Graham.  “The drought and heat have made 2008 a difficult year.  I’m pleased to see relief is on the way.”

These designations make farm operators in both primary and contiguous counties eligible to be considered for low-interest emergency loans from the Farm Services Administration (FSA).  Local FSA offices can provide farmers with more information.

####

Wes Hickman (202-224-5972) or Kevin Bishop (864-250-1417)

WASHINGTON- U.S. Senator Lindsey Graham (R-South Carolina) today announced the Senate has approved a resolution recognizing the week of September 7, 2008 as “National Historically Black Colleges and Universities Week.”

The resolution, introduced by Graham, was passed unanimously and calls on Americans to observe the week with appropriate ceremonies, activities, and programs to demonstrate support for Historically Black Colleges and Universities (HBCUs).

“Historically Black Colleges and Universities provide quality educational experiences and play a vital role in an increasingly complex and highly technological society,” said Graham.  “HBCUs have a rich heritage and have played a prominent role in the history of the United States. Further, they have allowed many students to attain their full potential through higher education. I am pleased the Senate has come together in a bipartisan fashion to recognize the contributions and accomplishments of these institutions.”

“The Thurgood Marshall College Fund family applauds Senator Graham’s leadership in recognizing the historic legacy and commitment to excellence of America’s Historically Black Colleges and Universities,” said Dwayne Ashley, President and CEO.  “The Fund looks forward to continuing to expand higher educational opportunities for all of its students.”

President Bush has also issued a proclamation designating September 7-13, 2008 as “National Historically Black Colleges and Universities Week.”

South Carolina is home to 8 Historically Black Colleges and Universities: Allen University, Benedict College, Claflin University, Clinton Junior College, Denmark Technical College, Morris College, South Carolina State University, and Voorhees College.

####

Wes Hickman (202-224-5972) or Kevin Bishop (864-250-1417)

In the wake of Russia's invasion of Georgia, the United States and its trans-Atlantic allies have rightly focused on two urgent and immediate tasks: getting Russian soldiers out, and humanitarian aid in.

But having just returned from Georgia, Ukraine and Poland, where we met with leaders of these countries, we believe it is imperative for the West to look beyond the day-to-day management of this crisis. The longer-term strategic consequences, some of which are already being felt far beyond the Caucasus, have to be addressed.

Russia's aggression is not just a threat to a tiny democracy on the edge of Europe. It is a challenge to the political order and values at the heart of the continent.

For more than 60 years, from World War II through the Cold War to our intervention in the former Yugoslavia in the 1990s, the U.S. has fostered and fought for the creation of a Europe that is whole, free and at peace. This stands as one of the greatest strategic achievements of the 20th century: the gradual transformation of a continent, once the scene of the most violent and destructive wars ever waged, into an oasis of peace and prosperity where borders are open and uncontested and aggression unthinkable.

Russia's invasion of Georgia represents the most serious challenge to this political order since Slobodan Milosevic unleashed the demons of ethnic nationalism in the Balkans. What is happening in Georgia today, therefore, is not simply a territorial dispute. It is a struggle about whether a new dividing line is drawn across Europe: between nations that are free to determine their own destinies, and nations that are consigned to the Kremlin's autocratic orbit.

That is the reason countries like Poland, Ukraine and the Baltic States are watching what happens in the Caucasus so closely. We heard that last week in Warsaw, Kiev and Tbilisi. There is no doubt in the minds of leaders in Ukraine and Poland -- if Moscow succeeds in Georgia, they may be next.

There is disturbing evidence Russia is already laying the groundwork to apply the same arguments used to justify its intervention in Georgia to other parts of its near abroad -- most ominously in Crimea. This strategically important peninsula is part of Ukraine, but with a large ethnic Russian population and the headquarters of Russia's Black Sea Fleet at Sevastopol.

The first priority of America and Europe must be to prevent the Kremlin from achieving its strategic objectives in Georgia. Having been deterred from marching on Tbilisi and militarily overthrowing the democratically elected government there, Russian forces spent last week destroying the country's infrastructure, including roads, bridges, port and security facilities. This was more than random looting. It was a deliberate campaign to collapse the economy of Georgia, in the hope of taking the government down with it.

The humanitarian supplies the U.S. military is now ferrying to Georgia are critically important to the innocent men, women and children displaced by the fighting, some of whom we saw last week. Also needed, immediately, is a joint commitment by the U.S. and the European Union to fund a large-scale, comprehensive reconstruction plan -- developed by the Georgian government, in consultation with the World Bank, IMF and other international authorities -- and for the U.S. Congress to support this plan as soon as it returns to session in September.

Any assistance plan must also include the rebuilding of Georgia's security forces. Our past aid to the Georgian military focused on supporting the light, counterterrorism-oriented forces that facilitate Tbilisi's contribution to coalition operations in Iraq. We avoided giving the types of security aid that could have been used to blunt Russia's conventional onslaught. It is time for that to change.

Specifically, the Georgian military should be given the antiaircraft and antiarmor systems necessary to deter any renewed Russian aggression. These defensive capabilities will help to prevent this conflict from erupting again, and make clear we will not allow the Russians to forcibly redraw the boundaries of sovereign nations.

Our response to the invasion of Georgia must include regional actions to reassure Russia's rattled neighbors and strengthen trans-Atlantic solidarity. This means reinvigorating NATO as a military alliance, not just a political one. Contingency planning for the defense of all member states against conventional and unconventional attack, including cyber warfare, needs to be revived. The credibility of Article Five of the NATO Charter -- that an attack against one really can and will be treated as an attack against all -- needs to be bolstered.

The U.S. must also reaffirm its commitment to allies that have been the targets of Russian bullying because of their willingness to work with Washington. The recent missile-defense agreement between Poland and the U.S., for instance, is not aimed at Russia. But this has not stopped senior Russian officials from speaking openly about military retaliation against Warsaw. Irrespective of our political differences over missile defense, Democrats and Republicans should join together in Congress to pledge solidarity with Poland, along with the Czech Republic, against these outrageous Russian threats.

Finally, the U.S. and Europe need a new trans-Atlantic energy alliance. In recent years, Russia has proven all too willing to use its oil and gas resources as a weapon, and to try to consolidate control over the strategic energy corridors to the West. By working together, an alliance can frustrate these designs and diminish our dependence on the foreign oil that is responsible for the higher energy prices here at home.

In crafting a response to the Georgia crisis, we must above all reaffirm our conviction that Russia need not be a competitor or an adversary. Since the collapse of the Soviet Union, Democratic and Republican administrations have engaged Russia, sending billions of dollars to speed its economic recovery and welcoming its integration into the flagship institutions of the international community. We did this because we believed that a strong, prosperous Russia can be a strategic partner and a friend. We still do.

But Russia's leaders have made a different choice. While we stand ready to rebuild relations with Moscow and work together on shared challenges, Russia's current course will only alienate and isolate it from the rest of the world.

We believe history will judge the Russian invasion of Georgia as a serious strategic miscalculation. Although it is for the moment flush with oil wealth, Russia's political elite remains kleptocratic, and its aggression exposed as much weakness as strength. The invasion of Georgia will not only have a unifying effect on the West, it also made clear that Russia -- unlike the Soviet Union -- has few real allies of strategic worth. To date, the only countries to defend Russia's actions in the Caucasus have been Cuba and Belarus -- and the latter, only after the Kremlin publicly complained about its silence.

In the long run, a Russia that tries to define its greatness in terms of spheres of influence, client states and forced fealty to Moscow will fail -- impoverishing its citizens in the process. The question is only how long until Russia's leaders rediscover this lesson from their own history.

Until they do, the watchword of the West must be solidarity: solidarity with the people of Georgia and its democratically elected government, solidarity with our allies throughout the region, and above all, solidarity with the values that have given meaning to our trans-Atlantic community of democracies and our vision of a European continent that is whole, free and at peace.

Mr. Graham is a Republican senator from South Carolina. Mr. Lieberman is an Independent Democratic senator from Connecticut.

(This op-ed originally ran in the Wall Street Journal on August 26, 2008.)