« Q Poll: A fading Palin, a sinking economy puts Obama over 50 percent in Florida | Main | Q Poll: Florida voters not sold on Wall Street bail out »

Senate takes up Wall Street bail out, Nelson not necessarily a big fan

The Senate to the rescue? Two days after the Bush administration's Wall Street rescue plan crashed and burned in the House, the Senate is taking up the charge.

Florida Sen. Mel Martinez has been urging action for more than a week, warning that the turmoil in the markets was putting the U.S. "at the edge of a significant cliff."

But Sen. Bill Nelson has sounded a skeptical note, saying the U.S. "shouldn’t be bailing out banks that caused the problem in the first place - without guaranteeing that taxpayers don’t get the short end of the stick.

"If we hand the administration seven-hundred billion dollars, then we also must assure there’s tough oversight, profit-sharing for taxpayers, fair refinancing for homeowners facing foreclosure; and, we must make sure none of the money ends up back in the CEOs’ pockets," Nelson said.

A vote isn't expected until early evening and John McCain and Barack Obama both say they're coming back to participate.


Feed You can follow this conversation by subscribing to the comment feed for this post.

The comments to this entry are closed.