Word: bailouts
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Georgia Eleven of the state's 13 Representatives voted against the bailout on Monday - decisions that may have had added impetus thanks to Georgia's recent gas shortages. Representative Hank Johnson, a Democrat, says locals have been waiting in long lines for gas and paying big prices to fill up, which could be "partially responsible for people's desire not to bail out Wall Street." An editorial in Tuesday's Marietta Daily Journal gave a thumbs-up to the thumbs-down on the bailout, calling it the "right move from a long-term perspective, but what it means...
There is anxiety, of course. And that has fueled some support for a bailout - or a "buy-in or rescue," as Jesse Stone, a bankruptcy attorney and chairman of the Burke County Republican Committee, calls it. "I hate that it has to be done, but I don't know of any other alternative. I'm just afraid that credit will dry up and the markets will plunge further. My whole retirement is based on what I have invested, and that could be wiped out." (Stone's Representative, a Democrat, did not support the bill in Congress...
Michigan Sherrill Freeborough owns two Saturn dealerships outside Lansing. She was nervous about the proposed bailout and relieved when it failed. "My fear was they didn't have time to study it," she says. "I wanted them to make sure they knew what they were doing, and that it was the right thing to do. My fear was this was too quickly put together. I was surprised and relieved when it didn't pass." Freeborough says she's a "little more confident today that Congress will do the right thing. Now, I feel like they're going to take...
Iowa Joyce Carle, 65, of Des Moines retired from the U.S. Postal Service after 25 years. But when the Paulson proposal came up, she immediately wrote a letter to the local paper to voice her opposition. "A $700 billion bailout I feel is going to my grandchildren. They're going to inherit that. I don't think it's going to solve the problem. It may fix it for a while. I don't trust the government to do what they say they're going to do." She says, "I'm no genius [but] it's basically a mortgage crisis...
...main fault line is a familiar one: illegal immigration. McCain and his allies in Arizona, including most of the state's congressional delegation (though it unanimously voted Monday against the Wall Street bailout plan pushed by McCain) and many of the state's leading business interests, favor a dual approach combining enforcement and a path to citizenship. The rambunctious populist wing of the state GOP, led in part by state representative Russell Pearce from Mesa, favors a much tougher stance of deportations first and foremost...