Rep. Obey voices concerns over current bailout plan - WAOW - Newsline 9, Wausau News, Weather, Sports

Rep. Obey voices concerns over current bailout plan

Representative Dave Obey Representative Dave Obey

By Natalie Sparacio

STATE (WAOW) -- Representative Dave Obey is voicing his concerns on the current economic bailout plant, saying he won't support it unless changes are made.

Since taxpayer money is being used in the plan he hopes lawmakers can find a way to give taxpayers a financial stake in their investments.

He also wants limits placed on the amount of money executives heading the failed companies are paid as a result of the bailout.

Still Obey agrees something has to be done or the nation's economy will suffer.

"The purpose of this package can not be to simply prevent a couple of banks from failing..the purpose of this package has to be to reestablish some degree of confidence and stability in the markets so that the entire economy doesn't collapse." says Obey.

The president will address the nation about the financial situation and the bailout plan Wednesday night at 7pm.

Online Reporter: Ashley Gatz

Powered by Frankly