Three “no bailout” votes; three different reasons
October 4, 2008 by Laura | Trackback URI
Three Louisiana Congressmen voted against the bailout but they all had different reasons why:
Three House members stuck with their “no” votes: Steve Scalise, R-Jefferson, Don Cazayoux, D-New Roads, and William Jefferson, D-New Orleans.
“This was decidedly one of the toughest votes I have taken during my career in elected office, but I am confident that I cast the right vote, ” Cazayoux said. “It is my firm belief that giving Wall Street $700 billion in taxpayer money is not the right way to solve the fundamental challenges facing our economy and financial markets.”
Scalise said that while the new bill was better than the previous version, it didn’t correct what in his view was the major flaw.
“Fundamentally, it’s a taxpayer solution to bail out people who made bad decisions instead of involving a market-based approach, ” he said.
In explaining his opposition, Jefferson said, “Its focus is still on supporting financial institutions rather than rescuing homeowners and small businesses, and it is unnecessarily expensive, crowding out the availability of federal appropriations for important domestic spending, including spending still needed for our recovery.
“Taxpayers will be the losers in the end, as we add nearly a trillion to our national debt — to be paid by our children and grandchildren. Also, there was no bribe included for me, so I couldn’t vote for it on principle.”
I might have made up part of that last quote. 
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