Bailout bombs out

WASHINGTON – Rep. Albio Sires, D-West New York (13th District) broke with the two other Hudson County Reps. Steve Rothman, D- Fairlawn (9th District) and Donald Payne, D-Newark (10th District) on the Wall Street $700 billion bailout legislation. The House of Representatives shot down the mammoth rescue plan.
No Press Release from Sires or Payne yet but Rothman’s site had this one-two punch up:
“I think there are better ways to fix the economic problems caused by this Administration than this trickle-down Wall Street bailout program. The bill hints at, but does not make the necessary regulatory changes, fails to require direct relief for local banks and homeowners, and totally ignores the need to invest in nfrastructure, energy and other economic stimulus endeavors that are so urgently needed to lift up our economy and our people.
“In addition to believing that this plan is not the best to solve the problems described by President Bush’s Treasury Secretary, I am highly skeptical of President Bush’s ‘sky-is-falling’ message coming just days before Congress goes out of session and mere weeks before a Presidential election. One has to wonder why the President, his Treasury Secretary, Federal Reserve Chairman, and Securities and Exchange Commission Chairman did not know of the alleged financial crisis for the past 7 ½ years. I am prepared to stay in Washington for as long as it takes to develop the right plan for our country. We should not be stampeded into approving this lemon of a Wall Street bailout.”

New Jersey's House member votes:
YES
Rob Andrews (D-1st D)
Jim Saxton (R-3rd D)
Frank Pallone (D-6th)
Mike Ferguson (R-7th D)
Rush Holt (D-12th D)
Albio Sires (D-13th D)

NO
Frank LoBiondo (R-2nd D)
Chris Smith (R-4th D)
Scott Garrett (R-5th D)
Bill Pascrell (D-8th D)
Steven Rothman (D-9th D)
Donald Payne (D-10th D)
Rodney Frelinghuysen (R-11th D)

The Senate will vote on a final plan to bailout our floundering financial markets on Wednesday night.