Minutes ago, the House passed Emergency Economic Stabilization Act
of 2008, otherwise known as the $700 billion Wall Street bailout bill, by a margin of
263-171. The New York Times has posted the roll call, which shows there were three Illinois converts. Rep. Judy Biggert, feeling obvious pressure
from the administration, voted yes after submitting a "no" vote earlier
in the week. So did South Side Democrats Bobby Rush and Jesse Jackson
Jr., who each got a call from Barack Obama asking them to reconsider.
According to the AP last night,
Rush said he was "seriously listening’’ to the presidential nominee,
who got in touch with a number of Congressional Black Caucus members
urging them to support the measure. Here's Jackson Jr.'s statement:
Congressman Jesse L. Jackson Jr. said today he will support an emergency rescue package for the nation's troubled financial system after getting assurances from Senator Barack Obama that, as president, they "would aggressively regulate predatory lending and force mortgage modifications to prevent foreclosures."
"Senator Obama and I agree that our financial foundation needs reinforcing. We also agree that homeowners need protections. First things first. Congress must stabilize the economy or we'll see more Americans facing foreclosures, layoffs, and bankruptcy," said Jackson, who previously opposed the House bailout bill.
"I have been assured by the top economists in the world, from the right and the left, that this emergency mission is necessary. I have also been assured that the new Administration in Washington will provide unprecedented protections for homeowners," said Jackson, one of Obama's 10 national campaign co-chairs.
Republican Jerry Weller also voted yes after missing the Monday voted due to a "family matter."
You can see the total roll call here. More to come ...
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