Friday, October 03, 2008

To The Rescue

The Bailout Bill Rescue Plan passes:
"We have acted boldly to prevent the crisis on Wall Street from becoming a crisis in communities across our country."
True Bi-Partisan support
Switching votes

Republicans picked up 26 votes in favor of the bill among caucus members who'd originally voted against it on Monday, while Democrats picked up an additional 32 votes.

According to preliminary numbers, 172 Democrats voted in favor of the bill while 62 opposed it; and 91 Republicans voted for it and 108 voted against it.
I have a lot of reservations about this approach, and probably would have voted no, still. But that doesn't mean I don't recognize the dire straits we are in and accept the fact that something had to be done.

This bill is far superior to the House product that John McCain tried to railroad through. It failed for a reason, and this one passed because help and protection to the consumer became more of the focus, instead of protecting corporations.

Now we'll see if it can be implemented correctly. There was a time that Congress gave authorization for action and once it left the chamber, everything got screwed up.


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