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Murray 'yes', Cantwell 'no' on bailout

Washington Sen. Patty Murray voted for a $700 billion package designed to help the beleaguered financial industry but her Democratic colleague Sen. Maria Cantwell voted against it.

The Senate plan, decried as a bailout by critics but seen as a rescue package by those who say it is needed to prevent an economic calamity, passed 74-25 Wednesay night.

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Murray

It now moves to the House, which on Monday defeated its own bailout package.

In a statement Murray said:

"Today communities across America, and far from Wall Street, are hurting. Families are struggling to fill up the tank, to afford health care and to send their kids to college. And even if they've played by the rules, paid their bills on time and have good credit, they are now at risk because of the Bush Administration's failure to rein in Wall Street greed...This is not the legislation I would have written. It's not legislation I wanted to support. But this is not the time to tell America's families, 'Sorry, you're on your own' and hope for the best. And that's why I support the bill we'll vote on today. "

Cantwell said:

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Cantwell

"While there are parts of this emergency rescue bill I am supportive of, such as expanding FDIC bank deposit coverage to $250,000 and implementing more reasonable accounting rules, I am not supportive of a structure where the government only gets companies' bad assets. This approach leaves the government with less resources, the troubled companies with less working capital, and in the end may not solve the market's underlying financial problems. If the government were to make more traditional cash equity infusion into these companies it would spur ten to twelve more times private sector investments into the stressed capital markets."

Posted by at October 1, 2008 7:03 p.m.
Comments
#190347

Posted by unregistered user at 10/1/08 7:18 p.m.

That's one less vote for Murray and her Reeboks. I hope this finally gets her out of office.

#190348

Posted by unregistered user at 10/1/08 7:20 p.m.

This is not the time to tell American families, "Hey, you're on the hook for another wealth transfer to the investor class." This bailout will do little, except for the few middle class throw ins, to stop the credit crisis. Asset values are going to come back to earth no matter what. They have to, in order to have a trustworthy market. This bailout just puts off some of the pain for a few months at an astronomical price. Hurray for Cantwell for standing up to it.

#190352

Posted by Sfyri at 10/1/08 7:28 p.m.

The AP vote count differs by one from that posted on the Senate Web Site

There it is listed that the Democrats voted:

39-9 (not 40-9)

Republicans:

34-15 (not 33-15)

With Lieberman Yea, the other independent, Sanders, Nay, and Kennedy abstaining.

#190361

Posted by curtissimo at 10/1/08 7:52 p.m.

this is further prrof that it doesn't matter who you vote for, both Republicans and Democrats are taking their orders from those who put the gas in their private jets and pay them off.

Patty Murry should be ashamed of herself. Barrack Obama has shown he is just another corrupt politician. You might as well right in Bozo the Clown for president, it really doesn't matter at all.

#190483

Posted by unregistered user at 10/2/08 8:26 a.m.

Cantwell: "..if the government.." She is the government! If she has a better idea she should have written a better bill rather than sit back and do nothing so she can later criticize any sort of action with an "I told you so" attitude.

#190667

Posted by tmasen at 10/2/08 12:47 p.m.

Good on Maria Cantwell for voting no. The entire plan won't help the "average American" one bit -- they will still lose their homes, not be able to afford health insurance, and risk financial ruin no matter if the bill passes or not. Therefore, the best thing to do is just say no and not fork over yet more money to a government determined to bankrupt every last American to pay for ridiculous wars and "bailout" packages. That said, shame on Patty Murray for voting for it.

Next step: track down my Representative and tell them to vote "no" again.

#192418

Posted by unregistered user at 10/5/08 7:24 p.m.

"Today communities across America, and far from Wall Street, are hurting. Families are struggling to fill up the tank, to afford health care and to send their kids to college.

Well, she's just CONTINUED the "hurt" with her yes vote.

Murray - OUT!

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