16th District Republican Congressman Don Manzullo and Steve Greenberg, Republican candidate for the 8th district seat now held by U.S. Rep. Melissa Bean, weighed in the House of Representative’s rejection of the leadership-supported financial bailout package.
Manzullo voted against the bill, while neighboring Congressman Bill Foster and Congresswoman Bean voted in favor. The bills failed 205 to 228. Approximately two-thirds of the GOP lower house members voted against the bill, while 95 Democrats voted “No.”
That obviously means Democrats could have passed the bill. It also means that House Republicans rejected the leadership of President George Bush. The Dow-Jones Index fell 778 points, about 7%.
Manzullo’s comments come first, then, Greenberg:
Manzullo: “Congress Must Fix this Financial Crisis, But Not on the Backs of the American Taxpayers”
[WASHINGTON] Congressman Don Manzullo (R-Egan) issued the following statement this afternoon after the House voted down the proposed $700 billion taxpayer-funded financial bailout bill.
Manzullo opposed the legislation but supported alternative bills that would have alleviated the crisis without putting taxpayer money at risk:
STATEMENT
“The American people today rejected the $700 billion taxpayer bailout of the bad investments of Wall Street. The American people did not cause this mess and loudly proclaimed that they demand a better deal. They were furious that those who caused the problem would be the ones to benefit at their expense.
“They recognized the solution offered was untested, expensive, and risky, while reasonable, cheaper, and proven solutions should have been given consideration by Congress.
“While I joined with the American taxpayers in opposition to this bill, I recognize the crisis at hand and the need to quickly approve a new measure that uses free-market incentives to encourage investment in the markets without taxpayer liability.
“Congress should stay in session around the clock until we solve this crisis.”
Greenberg’s reaction:
Washington Fails the People Again
LAKE ZURICH 9/29/08 – “First, Washington failed the people by collecting millions of dollars from the financial sector in exchange for a lack of regulation and oversight.1 This led to an economic crisis, putting the future of families at risk.
“Now, after their initial failure led us to this unenviable position, they have failed the American people again by failing to pass an economic recovery plan to restore credit flow and provide relief to Americans.
“I am disgusted with our elected officials in Washington,” said Steve Greenberg, candidate for Congress in the 8th District of Illinois. “Their lack of leadership in this economic crisis has only served to intensify the problem. Hard working Americans are suffering—sticking your head in the sand and hoping the problem goes away is not an acceptable strategy.”
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The photo was taken at an NFIB meeting in Crystal Lake about a month ago. The one of Steve Greenberg was taken at the Nunda Township Republican Central Committee congressional debate.