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Thursday, October 09, 2008

Iowa Independent: Loebsack backs bailout with reluctance

Excerpted from this post at Iowa Independent

U.S. Rep. Dave Loebsack said his vote for the financial bailout bill
was "a lot reluctant," and that the people responsible for the
financial crashed should by identified and punished, perhaps even with
prison, at a stop at the Hamburg Inn #2 in Iowa City Tuesday. "I
couldn't agree more and we have to find out how we got into this mess
and then we need to resolve the problem," Loebsack said, when asked by
Maria Conzemius of Iowa City if there was bipartisan blame for the
financial crisis. "We need to hold folks accountable who made these
mistakes, and if we find malfeasance we ought to punish them with
prison terms," he added. But Loebsack said the bill was, ultimately,
necessary. "When it didn't pass, you saw what happened in the stock
market," he said of the Dow Jones drop of more than 700 points the day
the first version of the bill failed in the House.


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