Tri-State legislators explain votes on bailout

October 03, 2008

"I am disappointed better alternatives weren't allowed a vote. I voted against this bill because as I said on Monday, rushing to bail out Wall Street won't protect Main Street.

"This bill paid for by taxpayers fails to fix problems caused by government policies. ...

"On Monday, I offered the Main Street Protection Act (HR 7228) to protect 100 percent of the accounts in FDIC-covered banks. On Tuesday, the federal debt ceiling crossed the threshold of $10 trillion.

"My bill would have provided the time and confidence in our banking system for us to research, debate and construct legislation which would work in the long term - rather than this short-term fix at taxpayers' expense. I have always said the great wisdom in our country lies outside the Beltway."

- U.S. Rep. Roscoe Bartlett, R-Md.

"While we've seen some key adjustments around the edges, this is fundamentally the same bill we considered on Monday ... We're still talking about $700 billion, and we're still talking about a process that lacks sufficient oversight and taxpayer protections for West Virginia families who pay their bills and play by the rules.


"Clearly, we're all concerned about ensuring the flow of credit, shoring up small businesses, preserving West Virginia jobs and protecting retirement accounts, but there were other options available that weren't even allowed to be considered.

"Instead of a serious look at how to reduce the cost to the taxpayer, we saw the add-on of various provisions designed to convince us to switch our votes that has actually made this bill $110 billion more expensive."

- U.S. Rep. Shelley Moore Capito, R-W.Va.

"My constituents feel the pain ... and the pain will manifest itself as job losses.

" ... I share the anger of my constituents ... They're being forced into a financial crisis by Wall Street greed" and mismanagement by Freddie Mac and Fannie Mae.

"... The house is burning. We're going to put the fire out first and then find out who set the fire."

- U.S. Rep. Bill Shuster, R-Pa.

How they voted

Following is how local members of the House of Representatives voted Friday on the $700 billion bailout bill.

Rep. Roscoe Bartlett, R-Md. - No

Rep. Shelley Moore Capito - R-W.Va. - No

Rep. Bill Shuster, R-Pa. - Yes

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