Democratic Senate Challenger; member of State House
Oppose bailout bill; more oversight needed
Merkley reiterated his opposition to the $700 billion bailout even after the rebound on Wall Street Monday, saying he wanted to see more oversight over federal regulatory branches. "This bill was poorly done," he said.
Smith said he wasn't for either more or less regulation, but better regulation in general and said he supported the bailout also because it included a four-year reauthorization of the county payments program.
Source: 2008 Oregon Senate Debate, in Southern Oregon Mail Tribune
Oct 14, 2008
Bailout bill is a $700-million blank check
The two addressed the Wall Street bailout. "The bill that Gordon Smith voted for last week... it is a blank check. A $700-million blank check to the biggest titans on Wall Street. It doesn't address the core issues,"
Merkley said.
"Stabilize the monster that is devouring Wall Street... before it gets to your street. That's the kind of action that is called for right now," said Smith.
Source: 2008 Oregon Senate Debate reported by AP on KGW
Oct 10, 2008
Our children have to repay debt from deregulated Wall Street
Merkley hung the blame for the economic crisis on Smith's shoulders. "Do you understand that our children are going to have to pay back the debt you are running up?" he asked. Merkley blamed deregulation supported by Republicans such as Smith.
For his part, Smith argued that Merkley was out of touch in his choice to oppose the recently approved $700 billion bailout package.
Both candidates said they supported government help for those people facing foreclosure.
Source: 2008 Oregon Senate Debate reported by AP on KATU
Oct 9, 2008
