(Washington, D.C.)– Members of Iowa’s congressional delegation are weighing in on Monday’s failed vote in the House on the financial bailout bill.
Both Steve King and Tom Latham voted against the measure.
In a press release, King says they have several options that “don’t rely on taxpayers to bailout Wall Street.”
King added “the FDIC can work with banks to ease capital requirements to help them weather the storm.” He added there is also a proposal to let private investors fund the bailout through Guaranteed Recovery Bonds, or to set up insurance programs to “ensure Wall Street Street bankrolls its own recovery”.
Latham says he voted against the measure because “it rewards the reckless executives who got us into this mess in the first place.”
Latham says congress must continue working together to find a comprehensive long-term solution that “doesn’t saddle taxpayers.”
