Welch votes in favor of bailout

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(Host) Congressman Peter Welch says he reluctantly voted in favor of latest financial industry bailout bill.

(Welch) "President Kennedy once said, `To govern is to choose.’ We’re at that point where we have to choose. It’s this bill or no bill. And I strongly believe that no bill is an absolute catastrophe for innocent Vermonters, innocent businesses, people who had nothing to do with causing this credit crisis.”

(Host) Welch says he believes something needed to be done to deal with the credit crisis.

He says he won’t get everything he wants out of the bill. But Welch says one of the most important things to him was an accounting change that the Securities and Exchange Commission will adopt.

Welch says that will protect taxpayers.

Welch says he got personal assurances from Senator Barack Obama that a new Democratic administration would adopt more taxpayer protections.


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