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How did local lawmakers vote?
> Do you agree with how your lawmaker voted?
Monday, September 29, 2008
WASHINGTON — The U.S. House was in chaos Monday, Sept. 29, after a $700 billion bill aimed at averting a massive financial crisis went down on a 228-205 vote.
More than two-thirds of the Republican conference, including U.S. Reps. Mike Turner, R-Centerville and Jim Jordan, R-Urbana, voted against the bill. U.S. Rep. David Hobson, R-Springfield, supported it, as did House Minority Leader John Boehner, R-West Chester, who gave an emotional speech right before the vote urging his members to vote for a less-than-ideal bill for the sake of the nation.
"Nobody wants to vote for this," he said, "myself included. But we have a product that may work, if we get the votes."
But Jordan, speaking immediately before the vote, said he was skeptical that the bill would work.
"We understand there's a serious concern in the financial markets," he said. "But are we going to turn to big government or turn to the free market?"
This bill, he said, was for those who "think the federal government's approach would be better than the free enterprise approach, which runs counter to everything we've learned during the last 200 years."
Hobson, meanwhile, gave credit to Boehner for working to make the bill more workable for Republicans. He said he feared that if the House did not act, that it would become more difficult to get car and student loans.
But Hobson, who is retiring, acknowledged it was a "very tough vote" for many of his Republican colleagues because taxpayers overwhelmingly oppose the bill, and the election is less than two months away.
"Their careers are on the line," he said.
Turner, meanwhile, said he voted against the bill because it fails to hold accountable those who got the financial system into trouble in the first place and because it does not prohibit the bad lending that led to this crisis. He said there were no guarantees that the bailout would work, and no plan for what to do if it didn't succeed.
"Our entire financial system has been imperiled by the greed of the people that run some of these companies," he said. "The same people could continue to offer these same loans that caused all this trouble; this bill will not prevent it."
After the vote, Boehner said something would have to be done, but he said everyone would have to "calm down, and relax and get back to work."
"I don't know that we know the path forward at this point," he said. "But it's clear it's going to take members on both sides of the aisle to work together to resolve this."
Contact this reporter at (202) 887-8328 or jwehrman@coxnews.com.
Comments
By bobsmith
October 1, 2008 2:08 AM | Link to this
Those that think the market is self correcting should wonder why the market hasn’t already corrected itself. No, I don’t agree with the bailout. The answer is to examine why the big oil companies have been making record high profits while Americans are struggling to pay for food and gas. Ask THEM to help figure out the solution before they go under because of self destructive greed.
By KAF
September 30, 2008 5:58 PM | Link to this
Rep. Hobson voted yes and I agree with him. The Republicans who voted no are just afraid of what the mob will do on election day, but their no votes probably won’t help them anyway. I predict a Democratic tidal wave in November.
By Go Obama!
September 30, 2008 4:27 PM | Link to this
We shouldn’t have to pay for anything. It is all Bush’s fault. The good ol boys and Bush should take money out of there own bank accounts and bail this country out, they are the ones making all the money these days.
By Julius
September 30, 2008 2:52 PM | Link to this
I am very glad this bill was voted down, hope it is never revived.
By dave
September 30, 2008 2:13 PM | Link to this
the dems didn’t didn’t need the republicans votes , they hold the parlimentary majority so now they need them to vote with them. More than a dozen times since 04 various republicans have warned this day was coming, bur people like Barney Frank, and Maxine Waters were all saying nothings wrong, that this was just a political lynching trying to get Franklin Raines. Then Nancy (Nazi) Pelosi makes this inflammatory speech and actually blames the republicans for this mess. Give me a break
By Bass*
September 30, 2008 2:06 PM | Link to this
The one thing I did not like about the above responses from the Congressmen is
“But Hobson, who is retiring, acknowledged it was a “very tough vote” for many of his Republican colleagues because taxpayers overwhelmingly oppose the bill, and the election is less than two months away.
“Their careers are on the line,” he said.”
Who cares about there careers in Washington our lives are on the line.
By Disgusted by it all
September 30, 2008 1:13 PM | Link to this
This is what happens when greed, ignorance and abuse of power have reached maximum levels. There should be no bailout. No one bails out average Joe when they go under.
By the way - Hobson has no fear for his job - he is retiring, and he voted no.
By Mark
September 30, 2008 12:18 PM | Link to this
Looks like David Hobson, R-Springfield, and John Boehner, R-West Chester will be getting voted out this November. Too bad they didn’t represent the “will of the people” who put them there.
By Bill
September 30, 2008 12:08 PM | Link to this
I believe the bailout is the wrong thing to do. Let the financial businesses adjust on their own, and if that mean a only a handful of institutions when the cloud clears, then that is what it shall be. Mike Turner and other Representatives should vote based on what the majority of their constituents’ think, not based on their own thinking for they are OUR Representatives. I agree with Mike Turner’s vote.
By Eddie
September 30, 2008 11:50 AM | Link to this
In China the person responsible for letting toys be tainted with lead was punished with death.
The heads of those responsible for a catastrophe this large in China would certainly be rolling right now.
However we just give them $700 Billion and ask the country to forget it ever happened. This is why the US is DOOMED!!!
By Mary
September 30, 2008 11:44 AM | Link to this
With all the talk about how to help people in this time of crisis; I would think a lot more of our politicians IF they would all take a few thousand dollars of the money they GIVE themselves and put it toward solving this crisis. American citizens elect them. HOWEVER they (congressmen) give themselves pay raises that are through the roof. The last raise would help many people who are losing it all. Things need changed in the Whitehouse! WE THE PEOPLE NEED TO DECIDE IF THEY DESERVE A RAISE!!!
By Lisa
September 30, 2008 10:59 AM | Link to this
The vote was correct. I’m tired of EVERYONE in Washington taking taxpayer dollars, throwing money at everything and everyone, thinking that’s going to solve these problems. Government needs to get smaller, not bigger. Why isn’t anyone suggesting spending cuts? We all know there are plenty to be made.
By Philman
September 30, 2008 10:46 AM | Link to this
Go to www.worldnetdaily.com and listen to a link on how Pelosi told 16 democrats up for re-election to go ahead and vote NO. what is not being reported by the Leftist DDN is Democrats do not need 1 Republican vote to pass a bill they hold the Majority in both Houses.and Bush has said he will sign it.talk about shady Politics.thats why I cancelled my paper.
By not good for small business
September 30, 2008 10:13 AM | Link to this
One of the real issues going forward is how to unlock the credit markets. Small businesses count on these lines of credit to buy materials and pay employees while waiting 60-90 days to be paid for services rendered. Around here it is even more important with the number of federal government contractors who borrow against invoices to make payroll.
Beginning in the next 2 weeks you can expect to hear about a lot of employers laying people off because they will be unable to pay employees.
By Laura
September 30, 2008 10:07 AM | Link to this
My opinion on the bailout plan by Congress is to just to stay out of the problems on Wall Street. I really do agree with Congressman Mike Turner’s vote on the bailout plan. I would like to know when is Congress going to stay out of the lives of ordinary American citizens.
By Jack
September 30, 2008 10:04 AM | Link to this
I think the no vote was correct, as is. I think those responsible should be held accountable and they definitely should not be left in their positions and should not receive large severance packages. They did not do their jobs !!!!
By Jack
September 30, 2008 10:03 AM | Link to this
I think the no vote was correct, as is. I think those responsible should be held accountable and they definitely should not be left in their positions and should not receive large severance packages. They did not do their jobs !!!!
By Joe Flacco
September 30, 2008 9:59 AM | Link to this
The Dems probably all voted against it. Pelosi is their Darth Vader.
By Denise
September 30, 2008 9:40 AM | Link to this
2/3rds of Dem’s voted for the bailout, but only 1/3 of Rebublicans voted for it. I agree with Turner. I don’t want the government making a hasty decision on this without making sure it has the best possible outcome. Both parties need to drop the politicking and do what’s best for the country right now.
By Nobailout
September 30, 2008 9:35 AM | Link to this
I say Good! Tell the government to stay out of the way!!! Let the free market correct itself, it always will with NO government interference.
The NO vote was correct.
By dro
September 30, 2008 9:34 AM | Link to this
I agree with the vote as the bill stands, CEO’s who have the LARGE buyouts\bonuses should be held accountable for the situation. I believe the vote was basically a no confidence vote by all parties. If it would come up again I think it will pass for the countries best interest. If there was a clause stating anyone using these funds cannot payout buyouts and or bonuses, the banks\wallstreet would find another way to correct the issue.
By gotitright
September 30, 2008 9:12 AM | Link to this
Where is the rest of the story. How did the democrats vote?