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Thursday, October 09, 2008
Hawai‘i lawmakers support bailout

The Associated Press - U.S. Reps. Neil Abercrombie and Mazie Hirono supported the Senate’s $700 billion financial industry bailout on Friday, Oct. 3, after rejecting an initial House version earlier in the week. The Hawai‘i Democrats joined the 263-171 majority in approving the measure that was intended to save the economy from falling into deeper peril. “The Senate bill that we are considering today offers improvements and protections beyond the original House bill for individual taxpayers” said Rep. Abercrombie. In a statement released last week, Rep. Hirono said the emergency financial rescue package she supported last week was far from perfect, but contained noticeable improvements over the initial measure. “This package is much more balanced in favor of helping everyday people, middle-class families, and small businesses” she said. “The bailout package we considered on Monday was simply too geared toward Wall Street and the corporations whose irresponsible practices helped create this crisis in the first place.”

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