Granger Votes Yes

Rep. Kay Granger, R-Fort Worth, voted "Yes," one of only 65 House Republicans -- and only one of four Texas Republicans -- to support the $700 billion bailout bill. While calls and e-mails to Granger's office were overwhelmingly against the package, Granger, as a member of the House GOP leadership, would have had a hard time defying her leaders.

"I voted 'yes' because I felt like it was our responsibility to change the way things are looking (in the markets.) I hope I'm wrong on this one," said Granger in an interview. In what she said was the toughest vote of her 12 year House career, Granger said, "You have to vote your conscience and that's what I did."

"I didn't like the bill but I thought it was better than voting 'no,'" said Granger. She credited the bipartisan negotiators with improving the bill.

What now?

"I don't know what happens now," she said. LIke other Republicans, she scoffed at Democrats' blaming the GOP. "The Democrats are in the majority  and it's absurd for them to say Republicans had to pass this bill." The other GOP lawmakers from Texas who voted for the bill were Pete Sessions of Dallas. Lamar Smith of San Antonio and Kevin Brady of The Woodlands.

Granger heads back to Texas today but is ready to return to work on a substitute.

As expected, the other members representing Tarrant County voted against the bill: Reps. Michael Burgess, Joe Barton and Kenny Marchant.

- Maria Recio

Comments

[MadMarine]

I am glad the bill failed. It is funny to me that Bush began warning Congress of the frailty of Fannie and Freddie in 2001. I find it extremly disturbing that Reigns made $90million in his 5 years as head of Fannie and now he advises Obama, who recieved over $126,000 in contributions from Fannie! But the biggest laugh goes to blaming the GOP for the bill failing. Don't forget who holds the majority in both Houses.

[JS Jones]

Well,Kay, I'm definitely NOT voting for you this year. The idea of a bailout is irresponsible beyond measure. What message are we sending these idiots on Wall St. if we mug the taxpayers to underwrite their irresponsible risk taking? "Privatize the profits, socialize the risk"...NO THANK YOU. Let the free market flush itself out properly instead of more socialist meddling by the Fed and our government.

And those of you that think we have a free market economy and that capitalism is to blame for all this, wake up! You are just fooling yourselves...we wouldn't be in this mess if the Fed & Treasury would have acted responsibly over the last 8-10 years and kept their noses out of what is SUPPOSED to be a free market economy.

[Jerry Glazner]

As always Kay ignores her constituents and voted how Kay wanted to. I really hope that the citizens in our district will remember her voting record when it comes time to cast their votes. Send Kay home!

[Ramp Rat]

Shame on you Kay.
Let the market deal with this problem!
Bad businesses fold everyday.
The government has to stop acting like an overprotective parent.
Its not healthy.

[D Greene]

Shameful that Kay chose to vote against the wishes of those who put her in office in the first place. You'll no longer get my vote.

[Hillbilly Johnny]

Some of you readers must be in denial. John McCain, Phil Graham, and other "free market" proponents did away with most of the regulatory oversight, which is what allowed this financial mess to happen. Now you want an even more "free market"? How's that been working for you so far? Remember that an unbridled market will ALWAYS reward the powerful and wealthy at the expense of the middle class.

[BUTTER]

Kay "TOAST" Granger, vote while you can.

[david calvert weatherford]

Well - Kay is just voting like the puppet she is - send her home -

oleagg

[stevo]

Why? When we all asked you not to. Your not my vote this coming election.

[Concerned]

Will this spill over into Trinity River Vision? How can we possibly afford it? Obviously, I'm not understanding Ms. Granger's judgement. Shame on her for voting Yes on this bill.

[RP]

Kay, you did the RIGHT thing today. You voted for what is BEST for your constituents, not what they WANTED. I guarantee many of the posters above will change their tune when they check their portfolios tonight, try to apply for a loan in the near future, or lose their jobs. This is not a bailout of Wall Street. It is an investment to get the credit markets (the backbone of our economy and corporate sector) moving again. Kay will be praised in a few short months for her foresight.

[R]

i agree with RP. This is not about Wall Street. This about the credit and bond markets. Those of you with a high 600 and low 700's try to go and get a car loan in a month or two. You just shut yourself out of loans and if you do get one be prepared for the rate! As for the high 700's and 800's good luck with your new 6 to 12% APR.

[Carol Vanpell]

Granger voted wrong today! When it's time to vote for her again, I will not!

[Carol Vanpell]

Granger voted wrong today! When it's time to vote for her again, I will not!

[Carol Vanpell]

Granger voted wrong today! When it's time to vote for her again, I will not!

[tg]

God bless Kay

[Bob]

Kay, there are other ways to free up capital without nationalizing the mortgage industry -- one would be simply to go back to the more reasonable accounting rule (before Sarbanes-Oxley) of reporting gains and losses as they occur, rather than pricing paper assets on latest property appraisals.

[Tarrant Guy]

Kay, We know where your allegiances lie. Not with constituents but along party lines. I see an early retirement...at our expense of course.

[R]

Kay, you did the right thing! I hope most of your constituents realize it before 2010.