Boren: Economy cannot afford inaction

Tuesday, September 30th 2008, 6:08 pm

By: News 9

By Gan Matthews, NEWS 9

NORMAN, Okla. -- The Oklahoma delegation was split over Monday's vote in the House.

Democrat Dan Boren and Republican Tom Cole voted in favor of the plan, but Republicans Mary Fallin, Frank Lucas and John Sullivan helped defeat it.

News of the delegation's vote triggered an alarm for one legendary Oklahoma lawmaker, former Senator and Oklahoma Governor David Boren, who is now OU's President.

While some called the plan a bailout, David Boren referred to it a rescue.

He described his e-mail to the state's Representatives as urgent. Others saw it as scathing.

In the e-mail, he wrote, "This is no time to play Russian roulette with the economy."

Boren said both the delegation and Oklahomans need to understand the bill wasn't just about saving Wall Street, but about the individuals impacted by the sloping economy.

"It's about those people getting ready to retire, or who are already retired," Boren said.

Ron Henderson recently opened a new convenience store in Norman with a loan he got last year.

"This is a very distressed rundown property," Henderson said. "I was fortunate enough to get a bank loan to do it, and I think the way things are looking today, there's no way that would have happened."

University of Oklahoma economist Robert Dauffenbach supported a bailout, but said the bill was flawed.

"I'm not certain that enough has been done to create the kinds of checks and balances I think we need to have at the federal level," Dauffenbach said.

Boren continued to encourage the bill's development.

"Even if we've not yet perfected this bill, we should keep trying to perfect it," Boren said. "We cannot afford inaction."

Henderson said business people in Norman are looking ahead.

"There's so much uncertainty that people in small business feel," Henderson said. "They hope the Christmas season is really good."


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