Maine’s two congressmen maintained their
positions as the House joined the Senate in approving a $700
billion government bailout of the financial industry.
As he did Monday, Tom Allen voted in favor of the bill Friday.
Fellow Democrat Michael Michaud stood firm in his opposition.
Allen said the latest bill contains key changes to insure
oversight of financial markets, eliminate golden parachutes for
executives and provide opportunities for homeowners to avoid
Michaud said the new bill, like the original, is fundamentally
flawed. He said it asks taxpayers, who were not responsible for the
credit crunch, to bail out Wall Street firms that caused the mess.
Sens. Susan Collins and Olympia Snowe voted for the bill
Wednesday. It now goes to President Bush for his signature.