Poll: most Missourians oppose proposed financial bailout

By David Catanese, KY3 news

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By Brian Vandenberg

SPRINGFIELD -- Polls show most Missourians strongly oppose the bailout for banks and financial institutions that failed in the U.S. House on Monday. They're not alone – five out of nine of Missouri's House delegation voted no.

The final vote was 228 to 205. This is a rare case in which the public was able to quickly and directly influence their lawmakers. But this also shows just how little voters trust anybody in Washington, D.C.

It was a Wall Street bailout more expensive than the Iraq War, and the failure to pass it sunk a stunned stock market a record 700 points. The lead negotiator for the Republicans, U.S. Rep. Roy Blunt of Springfield, thought he had more votes than he did.

“We did think we had a dozen more votes than we had, no more than that,” Blunt told reporters.

For a week, leaders on both sides said this would help slow the mortgage meltdown. They said it would limit compensation packages for failed chief executive officers. They said it would trickle down to Main Street.

Main Street didn't buy it.

“The things they have tried to sell us that have to be done right now and then they don't turn out to be right, so I don't believe what they tell us now,” said Ruth Newton of Springfield.

“They tell you all those scary things, that your 401Ks are going to disappear and all of that. I really wasn't quite trusting that that was going to be the case,” said Shirley Langford of Springfield.

Some U.S. House members from Missouri heeded the message. While Blunt, Jo Ann Emerson, and Ike Skelton were the four Missouri representatives who voted yes but five voted no: including the Republican candidate for governor, Kenny Hulshof.

Hulshof called the bill flawed. He wants more regulatory corrections and more congressional oversight of the treasury secretary's loan authority. He concluded that the $700 billion price tag is "excessive."

Blunt vows to go back to the drawing board.

“We're going to reach back out to them. We're certainly going to reach back out to our members, try to do our best to find a solution that works,” he said.

For Bob Miller, who supported the deal, any delay makes him anxious.

“As a retired person, I have to watch where the investments are and, if the places where I've invested go south, I'm in deep, deep trouble,” said Miller.

On top of all this, President Bush likely will be in St. Louis on Friday for a fundraiser for Hulshof's campaign for governor. If Congress hasn't reached a deal by then, Missouri Democrats likely will ramp up their criticism on the visit -- for raising money for politics, instead of working towards a new bailout deal.

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