DeFazio Unimpressed With Bailout Efforts
Portland, OR November 25, 2008 5:59 a.m.
Members of Congress are spending their Thanksgiving break, dogged by problems in the economy. April Baer reports.
Oregon Democrat Peter Defazio is unimpressed with the Treasury Department's ideas about buying bad debt, and infusing banks with cash.
Peter DeFazio: "Neither of those things is targeted at the real problems which is the lack of jobs and opportunity for Americans, and the lack of business activity."
Credit markets are still tight, leading some to propose new solutions. Both Defazio and his Democratic colleague, Congressman Earl Blumenauer say the House may reconvene early December.
Blumenauer says he'd like to see controls on how the bailout money is being spent.
Earl Blumenauer: "You need to have some sort of check. I haven't found anybody back here who feels good about the way this is proceeding, now."
Defazio and Blumenauer both voted against the bailout. Some Oregon reps voted for the bill despite reservations, saying quick action was necessary.
© 2008 OPB
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