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<b>Raw Video:</b> More Bailout Reaction From Wis. Lawmakers

Raw Video: More Bailout Reaction From Wis. Lawmakers

Charles Benson

The House defeated the big $700 billion bailout plan Monday, a vote that sent the DOW plunging to a record 777 points.

So how did your Wisconsin representatives vote on the big bailout?

Five members of the Wisconsin delegation voted for the plan. Three voted against.

TODAY’S TMJ4’s Charles Benson spoke with members on both sides of the controversy Monday night.

Local lawmakers say their phones are ringing off the hook with opinions from angry taxpayers ranging from, “no” to “hell no.”

As Wall Street was falling…

“I believe the danger of inaction outweighs the danger of action,” Rep. Ron Kind from La Crosse said.

Congress was failing…

“If we fail to do the right thing, heaven help us,” Rep. Paul Ryan of Janesville said.

Democratic Congresswoman Gwen Moore voted yes.

“It seemed to me this was a perfect storm brewing for a depression and no one suffers more than poor people during an economic meltdown,” Rep. Gwen Moore said.

Republican Congressmen Paul Ryan and Jim Sensenbrenner arrived home from Washington together but they were on opposite sides of the issue.

TODAY’S TMJ4’s Charles Benson: “On the floor you said ‘if this doesn't pass, heaven help us.’ What's going to happen?”

“I don’t know. I have been studying economics all my adult life,” Rep. Ryan said.

Ryan, who voted for the bailout, knows something needs to be done.

”I don’t want to spell gloom, but this may precipitate a credit crunch which we can fix, but we’ve got to get back to work, roll up our sleeves, and go fix this problem,” Ryan said.

Charles Benson: “You said in your statement that this would kill the American dream and create an American nightmare. What needs to change to make this acceptable?”

“We shouldn't have the governments running the financial markets,” Sensenbrenner said.

Congressman Sensenbrenner who voted against the bailout also wants the Justice Department to see if any high rollers on Wall Street broke laws.

There is no word on when Congress will get back to work.

Click on the link under related content to see an interview with Rep. Paul and Rep. Sensenbrenner.

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