[Audio] Oberstar votes “yes,” House says “no” on Bailout Plan
Forty-percent of Democrats and a third of Republicans in the House voted against a $700 billion bailout plan yesterday that President George W. Bush,Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke are calling an urgent measure. With a 228 to 205 vote the bill was defeated despite four “yes” votes from Minnesota Congressman (Betty McCollum (D), Keith Ellison (D), John Kline (R), and Jim Oberstar (D) .
Hear Congressman Oberstar’s Comments:
Four Minnesota Representatives voted against the bill, two Democrats and two Republicans, Tim Walz (D), Colin Peterson (D), Jim Ramstad (R), and Michele Bachmann (R). A second vote on the rescue plan is expected later this week, by Thursday at the earliest.