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Bailout bill blues

Partisanship seems to be the rule in D.C.

But for the $700 billion emergency bailout bill of the nation's financial system that failed the House on Monday, both Democrats and Republicans joined in defeating the controversial plan, 228-205.

Many of those who voted against it are involved in tough re-election campaigns, including U.S. Rep. Phil English of Erie, R-3rd Dist.

English is running against Democrat Kathy Dahlkemper of Erie.

English said the legislation didn't go far enough to protect taxpayers and left open the possibility of benefit-rich retirement plans for Wall Street executives, according to our story in the Erie Times-News and GoErie.com.

An acceptable bill, English said, would have to include punishment for those who did wrong, taxpayer protection and a clear understanding of how the money would be used.

English said he looks forward to a bill that he could support.

Stay tuned. This isn't the end of the bailout story.

-- John Guerriero

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This page contains a single entry from the blog posted on September 30, 2008 2:08 PM.

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