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Delahunt, Lynch Vote 'No' Again

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Oct 3, 2008 10:12 pm US/Eastern

Delahunt, Lynch Vote 'No' Again

 See How House Representatives Voted

Read: Jon Keller's Blog
BOSTON (WBZ) ― U.S. Rep. John Tierney changed his mind and voted for the Senate-passed $700 billion financial bailout bill Friday.

Tierney said he reluctantly supported the bill because it is the best among a bunch of bad alternatives and something needs to be done to ease panic in the financial markets.

"It's not about bailing out Wall Street, but protecting and preserving 401Ks, jobs and businesses of our people," Tierney told WBZ Friday.

Tierney and Reps. William Delahunt and Stephen Lynch were the only House members from Massachusetts who voted against a House bailout plan Monday. That bill did not include tax cuts and other sweeteners that boosted passage of the Senate version of the bill Wednesday.

Delahunt and Lynch didn't change their minds. They voted against it again Friday afternoon.

"I think we're going to have a case of buyer's remorse in a few weeks when we see this is not the silver bullet," Lynch said.

Delahunt and Lynch said the bill unfairly forces taxpayers to foot the bill while financial interests reap most of the benefits.

"In short, we're going to find out $700 billion is not enough, that more needs to be done because this is a more complicated situation," Lynch said.

Tierney defended his decision to vote in favor of the bill.

"It's not going to turn around instantly," he said. "What we did today will hopefully mean we won't go into as broad and deep a crisis as we otherwise would have."

(© 2010 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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