State's delegation speaks about bailout vote

Monday, November 3rd 2008, 9:09 pm
By: News 9

By Alex Cameron, NEWS 9

OKLAHOMA CITY -- It's been one month since Congress passed the controversial Wall Street bailout package, and the country is still a long way from knowing what it's true impact will be.

Oklahoma's delegation will be watching that closely, looking for evidence that the package is working and evidence that they cast the right votes.

The $700 billion bailout package was what the President said was needed to avoid a catastrophic economic collapse. It was what both Presidential candidates said was needed, as well as, leaders on both sides of the aisle in Congress, and yet the public was overwhelmingly opposed.

Congressman Tom Cole (R-District 4) voted for the bailout both times. He said it would have been irresponsible to do otherwise.

"It was a financial crisis brewing," Cole said. "It's still underway, the government needed to be in position to act and act decisively to protect its citizens."

Dan Boren (D-District 2) also voted twice in support the bailout package, despite, he said, 400 to 1 opposition among his constituents. Boren said a no vote would have doomed, not just the financial markets, but our entire economy.

"That was the choice, ‘Do you want a recession, or do you want the Great Depression?" Boren said. "Either one of those are bad, but you know, I had to make that choice."