"3 from Bay State reject a rescue" by Bryan Bender and Michael Kranish, Globe Staff | September 30, 2008
WASHINGTON - Three of the 10 members of the Massachusetts delegation voted against the financial bailout package yesterday, rejecting the advice of party leaders and their fellow Bay State congressman, Financial Services Committee chairman Barney Frank.
Stephen Lynch of Boston, William Delahunt of Quincy, and John Tierney of Salem were among 95 Democrats voting against the $700 billion bill, which was defeated by a margin of 228 to 205.
They portrayed their opposition largely in class terms, saying that working Americans would have to foot much of the cost to save ailing Wall Street firms but get little help and few guarantees that their nest eggs would be protected.
"Wall Street and the folks most likely to benefit from this bailout were not asked to contribute anything," Lynch said in a telephone interview. "This was largely placed on the shoulders of the American taxpayer. It is not in the best interest of the people who I represent."
Delahunt, calling the package "inadequate," told the Globe he could not support a bill that did not require the financial industry to kick in some money and did not provide relief for the record number of homeowners facing foreclosures because of Wall Street's bad judgment. "If you analyzed who would directly benefit, it was not the victims, but those who have benefited from this economic bubble," he said.
Like others, Delahunt lauded the efforts of Frank, who played a leading role in gaining the minimum taxpayer protections, "but, in good conscience, I couldn't support this."
Someone in Washington D.C. has a conscience?
Several who supported the bill said they did so reluctantly.
TOO BAD! GET OUT!!!
Representative Niki Tsongas of Lowell....
Representative James McGovern of Worcester....
"Two issues convinced me to vote yes," McGovern added. "I believe doing nothing would be catastrophe, and I trust Barney Frank." Lynchheld out hope that his concerns can be resolved in negotiations. --more--"I wouldn't trust Barney: Memory Hole: Barney and Business
Damn liberals!
