Bailout Break Down: How Illinois Voted

"The surprise failure of the bailout bill yielded a rare totally mixed roll call from the 19-member Illinois House delegation, with the results mirroring the larger problem in getting the emergency measure passed: Republicans were running from the package President Bush was begging them for," Lynn Sweet wrote.

The Illinois delegation split its votes down the middle, nine for, nine against, with the lame-duck Rep. Jerry Weller not voting (the only one in the entire House to pass, as Lynn Sweet notes).

Yes votes came from Democrats Melissa Bean, Danny Davis, Rahm Emanuel, Bill Foster, Phil Hare, Luis Gutierrez and Jan Schakowsky and Republicans Mark Kirk and Ray LaHood.

No votes were cast by Democrats Jesse Jackson Jr., Jerry Costello, Dan Lipinski and Bobby Rush and Republicans Judy Biggert, Peter Roskam, John Shimkus, Tim Johnson and Don Manzullo.

The seven-member Chicago delegation, Democrats all, voted 4-3 in favor of the bill.

Jackson stated that he voted against the bill because it didn't do enough for the economy:

This bill is simply a band aid not a cure for the financial crisis, and it does little for the hard-working Americans who will pay for it. It does not go far enough in addressing the systemic and terminal problems of our financial system. It further privatizes profits and socializes the losses. This crisis started because of the home mortgage market, yet this legislation merely suggests that the Treasury Secretary implement a plan to mitigate foreclosures and to encourage servicers of mortgages to modify loans. There is no explicit directive to actively restructure mortgages. Furthermore, the bill does not allow bankruptcy judges to restructure troubled mortgages.

Phil Hare defended the bill in this statement:

It was not a gift or a blank check. It provided the federal government the authority to loan money to certain financial institutions so they could resume lending to ordinary Americans. This would have allowed more families to afford their homes, cars and tuition payments and enabled our farmers to continue buying equipment, seed and fertilizer.

Roskam pinned the bill's failure on the "extraordinary risk" he believes it would have been for taxpayers.

Gutierrez placed the rejection blame on John McCain and the Republican presidential candidate's attempt to boycott the first debate in order to focus on the economy.

We lost an entire day because Republicans walked away from the table, and Senator McCain placed a rescue plan for his campaign before a rescue plan for American taxpayers. These stall tactics brought about unrest that extended beyond the halls of Congress and deeply troubled the markets.

Melissa Bean, whose suburban district includes Treasury Secretary Henry Paulson's home, was among a group of Illinois lawmakers in tight races who voted for the bill, bucking the national trend among swing-district Representatives.

Comments

[Brillig]

The best part of this, is that since the Republicans WILL NOT save the country, the DEMOCRATS can ride in, put back all the bits and pieces in the bill that will really protect consumers and PASS IT ON THEIR OWN - and be heroes!

[DrVeruju]

When the US was "bailing out" Russia in 1992 the $billions were finding their way into Swiss bank accounts within 24 hours.

I don't see anything to stop the same thing happening to the Paulson heist.

[PT6]

In CRISIS can we stand FOUR MONTHS of a POWERLESS PRESIDENT and VICE PRESIDENT?

No! They can not control Their OWN REPUB HOUSE and They are causing MORE DAMAGE!

We MUST START IMPEACHMENT HEARINGS and THE CHARGES ARE:

1. False Statements to Congress and the American People regarding IRAQ.
2. Non-Regulation of Stock, Bond, Banking, and Oil.
3. Non-Enforcement of SEC Rules on "Naked Shorts" that drove Companies to Bankruptcy and Merger.
4. Excessive Leveraging of Oil Market to Force Oil to Record Highs.
5. Non-Regulation of Mortgage Industry that lead to "TRICK" Loans and lost homes.
6. Non-Regulation of Derivatives which combine HIGH RISK LOANS together and Sell as Low Risk.
7. Non-Enforcement of Rules and Regulations in ALL INDUSTRIES.
8. Excessive Executive Pay for POOR PERFORMANCE.

There is literally REAMS of INFORMATION including Video, Audio, Text, Phone, and email evidence to convict these perpetrators.

[JonG345]

McCain failed. He couldn't get the house republicans to vote in any way that might jeopardize them in the upcoming congressional elections. They don't respect John McCain and don't think he will win the upcoming election.

Wash, rinse, repeat.

[Steve Real]

selfish left wing democrats and right wing conservatives
are killing the US and world economies single handedly

Get readly for the unemployment line
what a bunch of ignorant stunads

[CrabbyGolightly]

WHAT THE HELL DID THEY FIND SO FUNNY?

Here they were, Congressional Democratic leaders Nancy Pelosi, Harry Reid and Barney Frank and Treasury Secretary Henry Paulson sharing a laugh while announcing to the media that they reached an accord on the repulsive $700 billion bailout of Wall Street"s Masters of the Universe at the expense of ordinary Americans.

But the self-congratulations were premature and the pictures taken Monday showed grimmer expressions on the dealmakers" faces.

While partisans threw pot-shots at each other " the Dems blamed the Republicans for the failure of the bailout plan and vice versa -- the reality is both political parties" got us into this quicksand. And Congressional leaders who face November elections weren"t willing to absorb the voters" anticipated zings and arrows.

When the votes were tallied, there were 228 nays versus 205 yeas against the biggest market intervention since the Great Depression.

Count me among the millions who are glad that they issue hasn"t been resolved quite so quickly to Congress" satisfaction. Yes, yes, I"m aware that something must be done to avert another Depression. Americans rely on ol" Uncle Sam to play both mommy and daddy. ..But there"s lots more work to do to ensure that all of those who contributed to this fiasco are forced to sweat before the final tally is deducted from the next generation"s future. Here"s where they can begin: Bush, Pelosi, Reid, Paulsen, et.al " stop laughing at our expense.

[Brillig]

Leave the Democrats out of your rant please. Whenever Republicans fail, they try to find company.

When they win, they did it alone.

THE REPUBLICANS GOT US IN THIS MESS! THEY HAD 8 YEARS TO SEE THE PROBLEMS AND FIX IT - the DEMOCRATIC DOMINANCE IN CONGRESS is 2 years OLD.

WHERE WAS The REPUBLICAN LED Congress all this time?

Pelosi and Frank SHOULD be laughing their heads off. REPUBLICANS MESS UP< then self-righteously try to get DEMOCRATS to sign off on the most UNPOPULAR BILL OF ALL TIME!

THEY DID THEIR PART! WHERE WERE THE REPUBLICAN VOTES?