Oberstar Weighs In On Bailout Plan

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Oberstar Weighs In On Bailout Plan

By KBJR News 1

Story Published: Sep 29, 2008 at 4:09 PM CST

Story Updated: Sep 29, 2008 at 4:09 PM CST

Minnesota Representative Jim Oberstar weighed in Monday on the Fed's bail-out plan.

In his speech before the House Monday morning, Oberstar recalled other times in his long congressional career when the government pitched in to protect private business.

He specifically mentioned the Chrysler loans of the early 1980's and the rescue of the airline industry after 9-11.

He said its time to help again... and urged support of the bill before this morning's vote on Capitol Hill.

We are again at that point. Chairman Frank has crafted an extraordinarily talented proposal that protects the public interest and once again, we have to do it.

Now that the proposal has failed, Congressman Oberstar feels the stock market will suffer even more.

I think the confidence of domestic and international markets will be shaken by the failure of the House to approve the pending rescue plan.

Oberstar says that House of Representatives leadership will mull over amending the rescue bill... to find a version that will pass.

Tuesday, Sep 30 at 2:07 AM Gary Nelson wrote ...

Mr Oberstar has claimed to be for the working class all his political career and now he voted to bail out the “Bankster" the very ones that have created this problem, putting the burden on the backs of the taxpayers, he thinks the government should buy WORTHLESS ASSETS, let him use his money not ours! I for one will be watching his upcoming votes very careful to see where his allegiance is and if it is not for us, he will no longer get my vote! Has he flipped or flopped?

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