Hodes, Shea-Porter issue statements on bailout vote

Both U.S. Rep. Paul Hodes (D-Concord) and U.S. Rep. Carol Shea-Porter (D-Rochester) have issued statements relating to their votes on the financial bailout, they both voted no on the bill.

"Our economy has been battered by eight years of a financial wild west on Wall Street. There was no oversight and no accountability," Shea-Porter said in a statement. "I thought it was a mistake for the Administration to ask Congress to vote on a $700 billion bill to bail out Wall Street with only a single week to consider the proposal and a single day to review it. The Administration asked Congress to give up its Constitutional power of the purse and hand over a blank check for $700 billion. Congress said no."

Hodes said he voted against the bill because it does not protect taxpayers.

"I have no doubt that it is necessary to act quickly to stabilize our financial markets, protect American taxpayers, and rebuild our economy. I gave careful consideration to the arguments presented for passage of this bill, but I cannot support spending $700 billion of taxpayer money on a plan that was flawed from the start and, even as modified, fails to adequately protect New Hampshire taxpayers."

Also read:

- Bradley statement

-Horn Statement on the Economic Bailout Legislation