Sen. Elizabeth Dole did not support the bailout package passed by the Senate last week.
Dole said Wednesday the proposal is “a government takeover of our economy with no protection for taxpayers.” While she said the relief package was an improvement over the Bush administration’s original plan, Dole said it does nothing to fix the housing crisis largely blamed for triggering the meltdown of the nation’s credit markets.
Kay Hagen, Dole’s Democratic opponent, was unclear about the bailout package at first:
“We obviously need action,” Hagan said. “But I want to make sure we get it right.”
But after the package was voted for, she decided she was against it.
“It’s a fix for Wall Street, not Main Street, and this isn’t a situation where we can afford to only address half the problem,”
North Carolina’s other senator, Richard Burr, was a supporter of the bailout package from the beginning.
Video of Dole’s speech in the Senate: