Monday, September 29, 2008

WA Delegation split on support for Bail Out Bill

Regarding today's vote on the financial crisis bailout bill, Hunter Green, of the News Tribune tells readers of the Political Buzz blogs, "Congressman Rick Larsen said he was disappointed at the outcome. “Let me be absolutely clear – the economic rescue package I voted for today is not about helping Wall Street,” Larsen said. "It’s about protecting all of us – American families in Washington state and across the country who need our economy to grow and recover.”

"Washington state’s three Republican House members along with Democratic Rep. Jay Inslee voted against the $700 billion financial bailout package today.

In addition to Inslee, Republican Reps. Dave Reichert of Auburn, Doc Hastings of Pasco and Cathy McMorris Rogers of Deer Lake opposed the measure negotiated by congressional leaders and the White House."

Alex Johnson, a reporter for MSNBC writes, "Ample “no” votes came from both sides of the aisle, but Democratic leaders managed to persuade more than 60 percent of their members to back the measure, while more than two-thirds of Republicans balked at spending so much taxpayer money just before the Nov. 4 elections."

On MSNBC, Rep. Cathy McMorris Rodgers, R-Wash., called her decision to vote no “one of the most difficult I have faced.”

“I agree this bill is much better than the one we started with,” McMorris Rodgers said. But “committing 700 billion of our tax dollars requires a longer, more thoughtful debate.”

Rep. Barney Franks D, Mass, chair of the House Finance Committee told NBC in an interview, “Sixty-seven percent of Republicans decided to put political ideology ahead of this nation,” he said. “The numbers of deeply offended Republicans turned out to be the number you would need to defeat the vote.”

The measure was defeated 228-205.

World stocks and the Dow plunged in response to the vote. House adminstration announced that they have cancelled the House pre-election recess and are hard at work re-writing the bailout bill.

Alex Johnson's entire MSNBC article can be read here:

Hunter Green's entire News Tribune post can be read here: (Click "Political Buzz" and scroll down). Unfortunately, the direct link is no longer working:

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