Baucus on Bailout Plan

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By Madelyn Jarrett

Story Published: Oct 3, 2008 at 6:06 AM MST

Story Updated: Oct 3, 2008 at 6:06 AM MST

BILLINGS - Thursday the House mulls over the financial industry rescue bill passed Wednesday by the Senate. KULR-8 spoke with Montana Senator Max Baucus Thursday evening about the bill he voted for and why it's so important this legislation goes through.

Baucus says he voted yes because he thinks it's extremely important this plan goes through. And he thinks there have been enough changes and safeguards made to it that it will be successful in the House on Friday.

"If this legislation is not passed then the pain and suffering we've seen so far will be nothing as far as lost jobs and inability to function as a country. I'm going to make sure if this becomes law, and it will, that it is administered fairly. That executive compensations are cut and it is administered in a way that the American tax payers get a fair deal."

Baucus says as far as Montana being insulated from the financial crisis, we're not anymore. He's heard from many business owners in the past few days who are having severe trouble getting loans to simply run their day to day business.

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