Alabama Senators Said No to the Bailout Plan - WSFA.com Montgomery Alabama news.

Alabama Senators Said No to the Bailout Plan

Alabama Senator Richard Shelby Alabama Senator Richard Shelby

Alabama's two Republican senators said no to the $700 billion bailout plan.  "We haven't done a good enough job in creating a oversight mechanism that'll work," said Senator Jeff Sessions.

Senator Richard Shelby added, "It will not solve problems; it will create problems."

Senator Shelby all along expressed distaste for the plan. He said, "It's flawed and unnecessary to borrow this kind of money. There could have been other approaches."

Shelby, the ranking Republican on the Senate Banking Committee, said he had felt the bill would eventually pass. Before the vote, Shelby addressed his colleagues on the Senate floor telling them the nation did not get into this crisis overnight and they couldn't fix it with legislation pieced together so quickly. "We didn't get to where we are today by accident it is a path that we chose," Shelby said.

Governor Bob Riley, a former member of the House, said, while he also disagreed fundamentally with some of the plan's provisions, he would have voted for it.

  • NewsMore>>

  • Average price of US gas jumps 9 cents, to $2.83 a gallon

    Average price of US gas jumps 9 cents, to $2.83 a gallon

    Sunday, April 22 2018 1:24 PM EDT2018-04-22 17:24:47 GMT
    Monday, April 23 2018 4:56 AM EDT2018-04-23 08:56:32 GMT
    The average U.S. price of regular-grade gasoline spiked 9 cents a gallon over the past two weeks to $2.83. (Source: CNN/TWITTER)The average U.S. price of regular-grade gasoline spiked 9 cents a gallon over the past two weeks to $2.83. (Source: CNN/TWITTER)
    The average U.S. price of regular-grade gasoline spiked 9 cents a gallon over the past two weeks to $2.83. (Source: CNN/TWITTER)The average U.S. price of regular-grade gasoline spiked 9 cents a gallon over the past two weeks to $2.83. (Source: CNN/TWITTER)

    The average U.S. price of regular-grade gasoline spiked 9 cents a gallon over the past two weeks to $2.83.

    More >>

    The average U.S. price of regular-grade gasoline spiked 9 cents a gallon over the past two weeks to $2.83.

    More >>
  • Waffle House shooting victims: DeEbony Groves, 21, was 'full of immense potential'

    Waffle House shooting victims: DeEbony Groves, 21, was 'full of immense potential'

    Sunday, April 22 2018 11:48 PM EDT2018-04-23 03:48:36 GMT
    Monday, April 23 2018 4:48 AM EDT2018-04-23 08:48:16 GMT

    Groves was a senior at Belmont, where she majored in social work, and her death left the school "shocked and devastated" its president said. 

    More >>

    Groves was a senior at Belmont, where she majored in social work, and her death left the school "shocked and devastated" its president said. 

    More >>
  • Thousands sing 'Happy Birthday' to Queen Elizabeth II

    Thousands sing 'Happy Birthday' to Queen Elizabeth II

    Saturday, April 21 2018 6:54 AM EDT2018-04-21 10:54:10 GMT
    Monday, April 23 2018 4:47 AM EDT2018-04-23 08:47:07 GMT
    (Toby Melville/Pool Photo via AP). Britain's Queen Elizabeth raises her glass during speeches at The Queen's Dinner, during the Commonwealth Heads of Government Meeting at Buckingham Palace in London, Thursday, April 19, 2018.(Toby Melville/Pool Photo via AP). Britain's Queen Elizabeth raises her glass during speeches at The Queen's Dinner, during the Commonwealth Heads of Government Meeting at Buckingham Palace in London, Thursday, April 19, 2018.

    Queen Elizabeth II is marking her 92nd birthday with a star-studded concert in London.

    More >>

    Queen Elizabeth II is marking her 92nd birthday with a star-studded concert in London.

    More >>
Powered by Frankly