WASHINGTON — Ignoring predictions of economic calamity, three of Oregon’s five House members voted against the $700 billion rescue package for the nation’s financial system.
Democrats Peter DeFazio, David Wu and Earl Blumenauer voted against the package, joining 92 other Democrats and 133 Republicans to doom legislation that President Bush, financial analysts and Republican and Democratic leaders in the House said was crucial to preventing severe economic turmoil.
Oregon Republican Greg Walden joined Democrat Darlene Hooley in voting for the bill. Washington Democrat Rep. Brian Baird also voted for the bill.
Congressional leaders were frantically reassessing their options to keep some form of the rescue alive after the 205-228 defeat.
Bush and a host of leading congressional figures had implored the lawmakers to pass the legislation despite howls of protest from their constituents back home. Despite pressure from supporters, not enough members were willing to take the political risk just five weeks before an election.
Charles Pope; firstname.lastname@example.org