Area lawmakers willing to meet on bailout in D.C.

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Charlie Wilson

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U.S. Congressman Jason Altmire (D-4th)

By David Skolnick

In Ohio, some want more from Bush than just brief statements on the rescue plan.

YOUNGSTOWN — It’s important that President Bush do what he can to reassure Americans that the government’s financial bailout of Wall Street will work over time, local members of Congress say.

But some say Bush’s lax oversight over Wall Street caused the problems and he must do more than give brief statements about the issue.

“He talked of confidence, but people don’t have much confidence in his leadership,” said U.S. Sen. Sherrod Brown, a Democrat from Avon.

On Friday, Bush said the plan was aggressive enough to work, but a resolution will take time.

The $700 billion Wall Street bailout was approved a week ago but the stock market continues to decline.

“The plan has only been in place for five business days. I’m confident as we move into next week we’ll start to see signs that the economy is stabilizing,” said U.S. Rep. Charlie Wilson of St. Clairsville, D-6th, whose district includes Columbiana County and a portion of Mahoning County.

“In Congress, we worked as Democrats and Republicans in a bipartisan way to create a plan, and we’ll continue to work together,” added Wilson, who voted for the bailout. “In addition, we’re working closely with the administration to shore up our economy.”

Even though the election is less than a month away, congressmen are urging House and Senate leaders to call them back to Washington, D.C., to do whatever is necessary.

“My hope is the leadership will call Congress back into session to discuss options on how to deal with this,” said U.S. Rep. Phil English of Erie, Pa., R-3rd, who’s in a dogfight to be re-elected. English represents a portion of Mercer County.

U.S. Rep. Steven C. LaTourette of Bainbridge, R-14th, said, “I know this is the election season, but this crisis needs immediate attention. I’m hopeful that the president can work to straighten this out and restore confidence in the markets.”

LaTourette’s district includes seven northern townships in Trumbull County.

English and LaTourette voted against the bailout, but both said it’s now law and Congress and the Bush administration must do whatever it can to stimulate the nation’s struggling economy.

Brown, who voted for the bailout, expects the Senate to hold hearings next week on the Wall Street issue and how to create a better oversight.

U.S. Rep. Jason Altmire of McCandless, Pa., D-4th, said he was surprised the stock market continues to slide.

“I thought if nothing else consumer confidence would go up,” he said. “We’ll try to make things better. We’re seeing this because of panic. To stop that, we have to show leadership.”

Bush talking for a little every few days about the issue and “then going back into the White House” isn’t working, said Altmire, whose district includes Lawrence County and a portion of Mercer County.

“He needs to alleviate fears in the world and that has to be more than just a short statement,” said Altmire, who voted against the bailout bill.

skolnick@vindy.com