Constituents are chiming in on U.S. Treasury Secretary Henry Paulson’s proposal to spend $700 billion to bail out Wall Street.
Bloomberg.com reported yesterday that Democratic Rep. Bart Stupak of Michigan has received at least 300 calls and 100 emails from people asking why the government will help businessmen who have run their companies into the ground.
“Accountability is a big deal,” Stupak told Bloomberg, “That’s where they’re at.”
Jameson Cunningham, spokesman for Republican Rep. Thaddeus McCotter, said he believes McCotter is the first Republican lawmaker to declare his opposition to the bailout.
“He basically believes that there should be private recapitalization as opposed to a public bailout. Government shouldn’t always be the first immediate saving power,” Cunningham said. “I’m overhearing constituent phone calls and e-mails, and they are generally across-the-board against bailout.”
A Michigan Messenger investigation published earlier this week revealed that since March 2007 McCotter, who sits on the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, and the Subcommittee on Housing and Community Opportunity, has missed 13 meetings related to the current financial crisis.
Yesterday the FOX Business channel interviewed McCotter on his views about the Paulson plan. You can watch that here.