Friday, October 03, 2008

Bush's Phoning Causes Conaway to Shift Position on Bailout

News reports indicate Representative Mike Conaway will change his vote on the $700 billion bailout bill. After voting no on Monday, Conaway reconsidered and will vote for the current package.

The 11th Congressional District representative said Thursday that he was concerned about the effect on the economic system if a bailout wasn't passed.

Credit for financial institutions, which might not be available without the bailout, is "the lubricant or the oil that keeps our economy running smoothly," he said.

"I voted against the bill on Monday because there were several key pieces missing of the grand puzzle in this financial rescue package," Conaway said in an e-mail today. "In short, I felt there was a better way to respond and to restore needed confidence the American economy. While we cannot be positive that the plan we are considering today will work to restore that confidence, I am positive that inaction is not an option. So weighing the risk of doing nothing, I have decided that today I will vote yes on the financial package when it comes to the House Floor for a vote."

Conaway also said President Bush has called him daily this week to woo his support for the bill.

Funny, they were scheduled to be side by side last night at Mike's home for a "Republican Trust" fundraiser. For $57,000 supporters could get a photo and private time with President Bush. The news report made no mention of the haul.

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