Why One Congressman Voted Against the Bailout
- September 30
- D&S BLOG
Rep. Maurice Hinchey (D-NY) made several important points in his explanation of why he voted “no” on the bailout:
* The bill would have given $700 billion to the same administration that got us into this mess in the first place;
* Even Bernanke says that only $150 billion or so will be needed over the next 6 months or so, so why not let a new administration formulate a longer-term plan?
* There are other pressing needs in this country that should come before bailing out “Wall Street powerbrokers who got greedy and took advantage of the system.”
