District 2
Rep. Bob Etheridge, Democrat: Voted yes. Said the legislation has been credited with preventing a global financial meltdown that would have plunged America into a second Great Depression with millions more workers losing their jobs through no fault of their own.
Renee Ellmers, Republican: Would have voted against the “Wall Street Bailout.” It was passed in a panic and Wall Street got a payback from Etheridge.
Tom Rose, Libertarian: Would not have voted for it.
District 13
Rep. Brad Miller, Democrat: Voted yes, said he shares in the outrage over the rescue of the financial industry. It offends my sense of justice that the Americans who suffered the most were entirely innocent of causing the financial crisis and the people who did cause the crisis are making as much money as ever. I voted to help avoid a collapse of our economy, caused by the reckless policies of the previous administration. I have fought to make sure the banks pay back every cent and to make sure we never have to rescue the financial industry again.
Bill Randall, Republican: N/A
District 4
Rep. David Price, Democrat: Voted yes, saying he didn’t “delight” in President Bush’s plan to rescue the financial sector, but he didn’t have the luxury of allowing the economy to collapse into another Great Depression.
B.J. Lawson, Republican: Would have voted no. This money bailed out the people who caused this mess in the first place and left the rest of us to pay for it.
The Dodd-Frank Wall Street Reform and Consumer Protection Act, to overhaul federal bank regulation. Became law July 2010.
District 2
Etheridge: Voted yes … to build on the new credit card reform law to protect consumers and put in place commonsense rules of the road for the financial markets and bring the values of Main Street to Wall Street.
Ellmers: Would have voted no. This so-called “federal regulation bill” was actually Obama and the Democrats setting up a whole new layer of government bureaucracy. The legislation institutionalizes “too big to fail” and government bailouts.
Rose: Would have probably voted against it. We should have never gotten rid of Glass-Steagall during the Clinton administration or we wouldn’t be in this mess.
District 13
Miller: Voted yes. Introduced legislation in the House that included two key elements of the bill: the national mortgage lending reform provisions and the creation of an independent consumer financial protection agency.
Randall: N/A
District 4
Price: Voted yes. Wall Street reform puts in place a strong consumer protection agency, limits the size and scope of financial institutions, establishes tough new rules on risky financial instruments and restricts the ability of banks to gamble with the college and retirement savings of Americans.
Lawson: Would have voted no. Dodd-Frank is crony capitalism at its worst that favors the too-big-to-fail banks at the expense of smaller ones. I will work to reinstate Glass-Steagall, insisting on honest accounting for everyone and prosecuting the financial fraud that led to this crisis.
The American Recovery and Reinvestment Act, also known as the federal stimulus bill. Passed January 2009.
District 2
Etheridge: I voted for the Recovery Act: a tax cut for 95 percent of the American people; funding to prevent the layoff of thousands of teachers, firefighters and police officers; infrastructure like school construction bonds.
Ellmers: I was opposed to adding another $800 billion to the debt. Too much debt is the problem, not the solution. President Obama’s stimulus has failed.
Rose: Would not have voted for it. If we had just let the free markets reign, we would already be out of this recession.
District 13
Miller: Voted yes, said ARRA is expected to help create or save 105,000 jobs in North Carolina, 9,000 of which will be in North Carolina’s 13th District. … As tough as the economy is, it would have been much worse without the Recovery Act.
Randall: N/A
District 4
Price: Voted yes. The new N.C. National Guard headquarters in Raleigh has created 3,500 jobs because of the Recovery Act; local universities were able to initiate groundbreaking medical research and hire new workers, and 95 percent of North Carolinians got a tax cut because of the law.
Lawson: Would have voted no. This didn’t stimulate the economy, this stimulated government at the expense of the economy. All those jobs that were created? Those are government jobs that do
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