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Inhofe: More Important To Get It Right Than To Rush It Through
   posted 12:18 pm Thu October 02, 2008 - Washington, DC
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Oklahoma's senators were split on a financial rescue bill that passed through the U.S. Senate Wednesday night.

Inhofe was one of 25 nay votes on H.R. 1424 while Tom Coburn was one of 74 senators voting yes. Sixty votes were needed for passage.

On Inhofe's blog, he says he voted against the bill, not because he's "not against taking extraordinary action to provide necessary confidence to financial markets."

"The plan before us would have bureaucrats in Washington attempt to do what the experts on Wall Street can't do -- value troubled assets," Inhofe said.

Inhofe says Senators had too little time to read and comprehend the bill and for proper discussion and debate of the 700-billion dollar bill.

"Certainly our nation faces a financial markets crisis that requires action," Inhofe says. "Unfortunately, it remains unclear if this bill is the right action. I believe it is much more important to get it right than to rush it through."

Prior to the vote, Coburn said inaction was not an option.

"Taxpayers deserve to know that there is no guarantee this plan will work," Coburn said. "But, there is a guarantee that we will face a financial catastrophe if we do nothing."

"This bill does not represent a new and sudden departure from free market principles as much as it represents an emergency response to congressional actions that have ignored free market principles, and our Constitution, for decades," he added. "If anyone in Washington should offer their resignation, it should be the members of Congress who peddled the fantasy of free home ownership without risk."

The bill will now go before the U.S House of Representatives, where it's expected to get a vote on Friday. Earlier this week, the House voted down a financial stabilization bill 228-to-205.

Oklahoma's Congressional members were also split there, with two (Dan Boren and Tom Cole) voting for and three (Mary Fallin, Frank Lucas and John Sullivan) against.

What is your opinion about the financial stabilization bill. Click here to join the discussion.

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8 Talkback: Inhofe: More Important To Get It Right Than To Rush It Through
nativetulsan5
Finally, the man has said something that makes sense!  It's about time. . .

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