Rehberg on Bailout

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Rehberg on Bailout

By Sarah Gravlee

Story Published: Dec 15, 2008 at 8:39 PM MDT

Story Updated: Dec 15, 2008 at 8:39 PM MDT

BILLINGS - White House officials said President Bush is still considering a bailout for the U.S. auto industry. While details of the plan are vague, the president has hinted that money may come from the $700 billion dollars set aside to help the banking industry.

Congressman Denny Rehberg voted against both bailouts. He said if the nation loosens lending opportunities, the auto industry will probably recover on its own.

"Unless you've fundamentally fixed the reason we got there in the first place, why throw $700 billion dollars at it?" he asked. "That would just be the beginning for more problems and it was the same with the auto bailout. Why spend money if we haven't fixed the problem?"

Congressman Rehberg said it's now clear there's not enough oversight in the original bailout since some of the money may be used for the auto industry rather than to loosen lending practices.

Tuesday, Dec 16 at 2:37 AM SAD wrote ...

I cannot believe that our so called elected government officials can even vote this down and then go home and go to bed with a clear concious. The ripple effect from this is going to be a disaster.I have a TON of family in the big 3,I am from Michigan having recently moved with my husbands job. Where is the banks Czar?? No question where that HUGE amount of cash went.And to think any of you will ever get voted for again especially from the workers in the auto industry,you are sadly mistaken.

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