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View Full Version : Bailout Threatens Election Victory of Those Who Voted for It.




New York For Paul
10-12-2008, 10:51 PM
http://www.bloomberg.com/apps/news?pid=20601087&sid=aiBCNJrN9SWw&refer=home

In races across the U.S., Republicans and Democrats alike are being criticized for their support of the rescue, with their political futures in the balance.

Most lawmakers facing difficult elections opposed the legislation, wary of having to defend a plan that contains more than a half trillion dollars, unsympathetic characters on Wall Street and a difficult-to-explain problem involving credit- default swaps and other financial instruments. Of the 38 House members running in this year's closest races, barely one-third voted for the bailout. Just two of the 17 House Republican freshmen backed the plan.

In Georgia, all seven of the Republican House members, along with two of the state's six Democrats, opposed the plan. Georgia's two Republican senators backed the plan.

The stock market's drop since the plan was approved by the House has made it tougher for Marshall and other lawmakers who supported it on the grounds that it would stabilize the economy. Senator Saxby Chambliss has found himself in an unexpectedly tight re-election contest this year against a Democrat who opposes the plan, the mirror image of the Marshall race.