Dan Boren Explains Vote For Bailout Bill

Democratic Congressman Dan Boren, who today joined Republican Congressman Tom Cole in voting for the bailout bill, issued this statement explaining his vote: “Although Congress voted down the proposed financial package today, there is little disagreement that something must be done.

"Our country currently faces arguably the largest economic emergency in our history. It is my hope that Congress will reconvene soon to continue working toward addressing this economic crisis.

"Today I voted in support of the legislation because I believe the American banking system is at risk of total failure.

"Over the past two weeks we have seen our nation’s largest bank, three of our nation’s premier investment banks, and the country’s largest insurer fail. This should be cause for great concern.

"Many Oklahomans count on banks and financial institutions to protect their life-savings, expand their businesses, make major financial purchases, and send their children to college. A failure of our lending institutions could destroy our nation’s economy and cause many of our citizens to lose their jobs and homes.

"In the weeks to come, I will continue to monitor any proposal put forward to deal with the current financial situation.”

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