Tuesday, September 30, 2008

Kudos to Bishop, Matheson on Bailout Bill

I just wanted to applaud Reps Bishop and Matheson for voting against the bailout yesterday.

Matheson explained his vote, saying "Utahns are outraged that even as they try to cope with a weakening economy, Congress wants them to come to the rescue of big banks who contributed to this financial mess."

He added, "I don't agree with government being in the business of bailing out private companies that make bad business decisions. I'm uncomfortable with granting one individual so much power to distribute taxpayer funds."

Matheson concluded, "While the current financial crisis is unsettling, I believe more thoughtful attempts are needed — including necessary reforms — to calm the volatility in the markets."

Bishop said: "We are in a tough financial spot, and things could get worse fast, but Congress is acting too quickly based on what you've really got to admit is an artificial deadline. We should be focused on acting correctly rather than just quickly.

"The first proposal that (President) Bush and (Treasury Secretary Henry) Paulson sent up was totally unacceptable," Bishop added. "The apparent 'deal' with the Democrats short after that was even worse." He said the latest proposal was better, "but there are still a couple of major problems."

Oh, and props to Orrin Hatch for being against the bill, also.


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