The State: SC delegation together on bailout
WASHINGTON — Rep. Gresham Barrett jumped on board the bailout express Friday as all six House members from South Carolina helped Congress pass a $700 billion financial rescue bill.
The House voted 263-171 for sweeping legislation to authorize the U.S. Treasury to buy or insure bank assets whose values have plunged in the country’s economic turmoil.
“We have come up with an incredible piece of legislation that addresses not just Wall Street, but Broad Street, where all the automobile dealerships are located in my hometown,” U.S. House Majority Whip James Clyburn told reporters after the historic vote.
CLICK HERE TO READ THE FULL STORY.