Both Reps. Mark Souder and Joe Donnelly voted in favor of the second try for the $700 billion Wall Street bailout bill Friday afternoon.
“This bill is not the bill that I or other Republicans would have chosen, but with a Democrat-controlled Congress, any bill must be a compromise. Possible failure of our economy was not an option,” Souder, a Republican representing the 3rd District said.
Democrat Rep. Donnelly, 2nd District, echoed Souder’s sentiment that the bill was not perfect, but necessary.
“While the bill that the House of Representatives received from the Senate is far from perfect, it is needed to stabilize our economy and spare Main Street from serious economic harm. My number one priority is to protect our jobs and savings back home, and this bill presented us with the best chance of doing that. I did not take pleasure in voting for this legislation, but the choice before us was stark: either pass this rescue package or do nothing,” he said.
Along with local House representatives, Indiana Sens. Richard Lugar and Evan Bayh also voted in favor of the bill in the Senate Thursday.
“Regrettably, there are no good options. But the current plan is far better than the original proposal,” Bayh said. “Executives who have brought their companies to the brink of ruin and now seek public help will be prevented from profiting.”
He later added that it is “a distasteful but necessary step to protect millions of innocent people from the malfeasance of a few.”
Sen. Lugar had already been announcing his support for the bill before its passage.
“The financial rescue legislation will restore credit flow to homeowners, businesses, farmers and all the people who, by the very nature of their businesses, need to borrow money to maintain their activity and keep employees. Failure to pass such legislation would lead to massive unemployment and failure of small business and farming operations in Indiana. That is unacceptable,” he said.
Local News
Local representatives vote for bailout
- Local News
-
-
Boys & Girls Club of Goshen says goodbye to longtime director Andy Purviance
It’s the end of an era at the Boys & Girls Club of Goshen. Andy Purviance, the long-time Director of the Club, will be saying good bye to the club and Goshen this fall as he and his wife Donna relocate to San Diego where Purviance will continue his career in Boys & Girls Clubs.
-
Goshen VFW Honor Guard helps send their fellow veterans to final rest
The heat of the stuffy May day is starting to gather outside of Rieth-Rohrer Funeral Home in downtown Goshen recently as members of the VFW Post 985 Honor Guard begin to shuffle inside.
-
Duty changes with birth of LaGrange soldier's son
Usually when people think of American veterans they think of men in uniform. More often today, than in yesteryear, the veteran is a woman. In tune with the times, the military has made accommodations for this increase in female recruits.
-
Fairfield graduates ready for the next step
Fairfield High School held its 44th commencement Friday night in its school gymnasium, handing out 145 diplomas.
-
Westview seniors graduate Friday night
Westview High School held its 46th commencement Friday night in its school gymnasium, handing out 97 diplomas.
-
RV shipments up in April
Wholesale shipments of recreational vehicles rose 9.8 percent in April compared to the same month in 2011.
-
UPDATE: Police release names of two killed in Bristol motorcycle crash
Two Elkhart residents were killed Friday night when the motorcycle they were riding crashed along Ind. 15 as they fled police.
-
Police probe possible fatal crash near Bristol
Elkhart County rescue crews responded to a possible double fatal traffic crash on Ind. 15 just south of C.R. 112 at 9:13 p.m. Friday night. Ind. 15 was closed to non-emergency traffic and a Samaritan medical helicopter landed at the scene to assist with rescue efforts.
-
Goshen teen who shot himself Tuesday arrested for using sawed-off gun in robbery
A 17-year-old male recently admitted to IU Health Goshen Hospital for a self-inflicted gunshot wound has been arrested in connection with the robbery of a BP gas station in Goshen this past Sunday.
-
Wild phlox can be found this time of year
Nature’s bounty can sometimes produce unexpected beauty in the form of wildflowers that can pop up anywhere and everywhere. They can be some of the most exhilarating because of the unusual colors, the delicacy of the blossoms, or simply their choice of location to grow.
- More Local News Headlines
-
Vatican in Chaos After Butler Arrested for Leaks
Jimmy Carter Endorses Egypt's Election Results
Biden Addresses West Point Graduating Class
Dozens of Children Killed in New Syria Attack
Raw Video: Activists Allege Massacre in Syria
NJ Man Charged With Murder in Death of Patz
Support, Fun for Kids of Fallen Soldiers at Camp
Fugitive Penguin Caught, Returned to Aquarium
50 Years Later, Underground Fire Still Burning
Light Show Transforms Sydney Opera House
Raw Video: Unruly Passenger Restrained in Miami
Raw Video: Robber Uses Drive-thru Window
Raw Video: Dragon Arrives at Space Station
Calif.'s Coronado Named Nation's Best Beach
CEO Salaries Become Sore Issue in Labor Disputes
