In a bi-partisan shocker, Congress voted down a $700 Billion dollar bail out of Wall Street that amounted to socialism.
From Foxnews.com (the only site that would load after the vote came through):
House leaders held open the vote as they tried to sway reluctant lawmakers to support the plan, which failed 205-228. Arm-twisting continued even after the vote clock expired. One member, retiring Republican Rep. Jerry Weller, did not vote.
The bill aimed to open up clogged credit lines for financial markets that had come to a near collapse. Sellers continued to shed stocks as the market teetered down more than 450 points after the vote ended.
Representatives worked throughout the weekend to make a bill palatable. Republicans had insisted on a mortgage securities insurance paid by firms who had invested in bad housing loans.
But many lawmakers continued to oppose the plan for a variety of reasons, including the massive price tag that would expand the national debt, and GOP members said constituents were calling 10-1 in opposition to the bill, which had been described as too much government intervention. Of 235 Democrats, 141 supported the legislation. Of 199 Republicans, 132 opposed it.
I hope to post later the way our Hoosier Congressmen voted on this bill once the House.gov sites are able to load again.
Voted against the bailout:
- Dan Burton
- Mike Pence
- Steve Buyer
- Pete Visclosky
- Andre Carson
- Baron Hill
Voted For the Bailout:
- Joe Donnelly
- Brad Ellsworth
- Mark Souder
Thanks to Sean Hackbarth for sending me the link.
Right now, I’m a little speechless that Mark Souder voted for the bailout. I’m interested to find out why. I hope to have press releases shortly from a few of our congressmen on the issue.
(Originally posted to Hoosier Access)