Archive for Thursday, October 23, 2008

Congressional candidates disagree on bailout plan

October 23, 2008


— Republican challenger Nick Jordan described Democratic Congressman Dennis Moore as partly to blame for the nation's financial crisis.

During a debate Wednesday, Jordan, a state senator, said the five-term incumbent took $64,000 from those who would benefit from the $700 billion financial rescue after he voted for it.

"It probably would be a good idea if he returned those contributions and return the faith of voters in the 3rd District," Jordan told some 200 people attending the debate.

Moore didn't respond to Jordan's proposal during the debate. When asked afterward if he would return the contributions, Moore said, "I'm not for sale. He knows that. The people in this county and this district know that money came in after the vote, not before."

This was the second and final debate between the two candidates before the Nov. 4 general election.

Jordan said Moore ignored warning signs that could have averted the need for the rescue plan to deal with the nation's financial meltdown.

Moore said he did what he could but noted that Congress has been under Democratic leadership for only the last two years.

The two candidates also disputed Moore's role in imposing tougher regulations on mortgage giants Fannie Mae and Freddie Mac.

Jordan also criticized the rescue package, saying it was filled with pork barrel projects and that other ideas would have been better. He said he favored "free-market" solutions such as suspending the federal tax on capital gains or having more public-private investment partnerships. But Moore said he stood by his vote on the rescue plan because it helped small businesses and the citizens.


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