http://www.speaker.gov/blog/?p=1530Read the bill. It looks like the put in a lot of protection for tax payers.
However, here is part of the statement from Barbara Lee (CA, Dem) on why she didn't vote for it:
First, it does little to address the underlying problem – the foreclosure crisis. We need a moratorium on foreclosures and bankruptcy reform to help people stay in their homes.
“Second, this bill should be paid for by the high-flying industry that created this problem. $700 billion should not be given to Wall Street and the Bush Administration unless those who cause this mess pay for it. We should also prohibit the tax deductibility -and my bill the Income Equity Act (HR 3876) would do this across the board - of executive compensation in any company where the highest paid corporate officer is paid more than 25 the times the pay of a bailed-out company’s lowest-paid worker.
“And third, we need an economic stimulus package to deal with the crushing reality of the recession that is hitting people hard and growing every day.
“I cannot vote to reward those predatory and subprime lenders who are creating such havoc in the lives of millions of Americans.
“There is a better way.”
http://lee.house.gov/?sectionid=57&sec...amp;itemid=1422