Bill Nelson: A "no" on the bailout

Don't count on Bill Nelson to vote for the Wall Street bail out plan. He took to the Senate floor to say he opposes the measure, saying it "rewards the banks and leaves the little person with the short end of the stick."

He said the bill "forces taxpayers to bail out investment banks that caused the crisis in the first place and does nothing to address the real problem, which is home foreclosures..."

"I think Congress can do better," Nelson said. "It's true we have to do something but this particular legislation is not the right solution."

The stance leaves Nelson, a Democrat, siding with many Florida Republicans, including Reps. Lincoln and Mario Diaz-Balart and Ileana Ros-Lehtinen, who all voted against the measure in the House Monday. And it puts him at odds with Democratic congressional challenger Joe Garcia, who held a press conference in Miami today to criticize Mario Diaz-Balart for not backing the measure.

Comments

[Wake up and spit out the coolaid]

This economic slump is a magic trick to sway voter opinion.

[Wake up and spit out the coolaid]

This economic slump is a magic trick to sway voter opinion.

[Wake up and spit out the coolaid]

This economic slump is a magic trick to sway voter opinion.

[Wake up and spit out the coolaid]

This economic slump is a magic trick to sway voter opinion.

[dwak]

Bravo Mr. Nelson ! for that much money they should say where it's going, not just "oh we'll tell you later"

they don't even say where they got the number from ----- is it POOMA (pulled out of my _*_) method accounting ? that's what started this in the first place

* armadillo

[FDuran]

Carter signed the Community Reinvestment Act in 1977; Clinton signed the amendments to the CRA into law in 1999, including mandates forcing banks to generate subprime loans to high-risk low-income borrowers. Obama's ACORN pushed for this loans to be available to subprime borrowers, and Obama later obstructed multiple Republican intents to regulate Fannie Mae. Fannie Mae's top executives Raines and Johnson (Obama's advisors and fundraisers) are currently being investigated by a Grand Jury regarding accounting fraud. Democrat's fingerprints are all over the crime scene of the current financial crisis.

[carlos]

The bailout will be the tip of the iceberg-we will need another big lump sum next year to finish the job. In the end, the nation will be in so much debt it will implode.

LET THEM FAIL AND GIVE THE MONEY PROPORTIONALLY TO ALL THE PEOPLE MAKING LESS THAN $100000 A YEAR, THE FDIC BAROMETER FOR BANK INSURED DEPOSITS.

[S.N.Miami]

They vote for the bailout and it helps for how long? Until the next financial institution collapses because the job market still sucks and homes are still being foreclosed? This bailout is a band-aid...a very expensive band-aid.

[rick]

Good for Bill Nelson he has My vote. They voted Yes I will vote No for them. We will remember this vote. They sold America. We need to get rid of them.

[Robbin Harrell]

I'm a republican and I will vote for Nelson now. I will never vote for martinez again.