Oct 2, 2008 7:38 pm US/Eastern
Florida's Sen. Nelson Votes Against Bailout Plan
MIAMI (CBS News) ―
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Democratic Florida Senator Bill Nelson
The Senate passed its bailout plan by a wide margin Wednesday night, optimistic that the easy approval, coupled with an array of popular additions, would lead to House acceptance, though Florida's Democratic Senator Bill Nelson told
CBS4 why he opposed it.
He was among only 25 senators to vote against the administration's economic bailout plan.
From Washington, via satellite, he said emphatically, "I oppose this bill!"
He told CBS4 Reporter Gary Nelson, "Something has to be passed", that a rescue of some sort is necessary, but not the bailout as proposed.
He added, "This bill sends a message to Wall Street that if you play fast and loose in the interests of short term profits, the government will make up for your losses."
During the vote on the senate floor, Florida Republican Senator Mel Martinez said, "It is in every American's best interests that we act."
Sen. Martinez voted for the bailout, warning the alternative could be another Great Depression.
He added, "What I wanted was something different."
Sen. Nelson explained he opposed the bailout primarily because it would do nothing to help individual homeowners or the flood of home foreclosures.
Political pollster and consultant Sergio Bendixen said Sen. Nelson followed the political winds on this one.
"Florida voters are with him," said Bendixen. "The polls are showing that there's a revolt against what appears to be welfare for Wall Street," he added.
The senator was asked by CBS4's Nelson,"There are those who would suggest that with this vote you put your political interests ahead of the best interests of the country. Did you?"
The senator responded, "The best interests of the country are not to bail out the investment bankers on Wall Street and leave the little guy and the taxpayers holding the short end of the stick.
He also explained that the senate version of the bill has ballooned to nearly a trillion dollars that included earmarks supporters hope will carry those in the House on Friday.
Having opposed his own party's leaders and presidential candidate, the senator was asked if he believed he jeopardized any future cabinet position if Sen. Barack Obama wins the presidency.
He answered his vote against the bailout was a clear, inescapable choice.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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