Why One Congressman Voted Against the Bailout

Rep. Maurice Hinchey (D-NY) made several important points in his explanation of why he voted "no" on the bailout:

* The bill would have given $700 billion to the same administration that got us into this mess in the first place;

* Even Bernanke says that only $150 billion or so will be needed over the next 6 months or so, so why not let a new administration formulate a longer-term plan?

* There are other pressing needs in this country that should come before bailing out "Wall Street powerbrokers who got greedy and took advantage of the system."

Read his full statement here.