honoluluadvertiser.com

Sponsored by:

Comment, blog & share photos

Log in | Become a member
The Honolulu Advertiser
Posted on: Saturday, September 27, 2008

Residents against rescue plan letting Isle delegation know it

By Dennis Camire
Advertiser Washington Bureau

WASHINGTON — Almost all of the hundreds of people who have contacted Hawai'i's congressional delegation this week about the Bush administration's proposed bailout are against it.

The Washington and Honolulu offices of Sen. Daniel K. Inouye, D-Hawai'i, have received about 2,000 calls, e-mails, faxes and letters on the issue with nearly all opposed to the administration's plan, said Mike Yuen, spokesman for the senator.

"Of the nearly 500 calls this week to the senator's Washington office from constituents, only two endorsed the proposal and one did so reluctantly," Yuen said.

An e-mail from a constituent in Waipahu to Inouye said the $700 billion proposal is bad.

"It will 'reward' those who have knowingly taken bad risks and penalize the taxpayers," the e-mail said. "The big financial firms have already taken their spoils. ... Don't saddle the aging taxpayer with these debts."

Nationally, 78 percent of Americans said Congress should approve a bailout of the financial markets, according to a USA Today-Gallup Poll taken Wednesday. But it's primarily those opposed that lawmakers are hearing from.

Since Tuesday, about 1,000 people called, e-mailed or faxed opinions to Rep. Neil Abercrombie, D-Hawai'i, said Dave Helfert, spokesman for congressman.

"The overwhelming majority are against any sort of bailout plan and almost all the rest think the president's proposal needs major changes to be accepted," Helfert said. "Most of those people begin by talking about how they do not want the Wall Street CEOs who got us in this mess rewarded with multimillion-dollar bonuses and golden parachutes."

To spark discussion among his constituents about various financial rescue proposals, Abercrombie has posted summaries on his official Web site — www.house.gov/abercrombie — along with news coverage and statements about different plans.

"Angry tirades or finger-pointing aren't very productive but if someone has a serious thought or suggestion about the approach we ought to take, I want to hear it," Abercrombie said.

In the past two days, Rep. Mazie Hirono, D-Hawai'i, has received 544 letters and e-mails and 89 phone calls against a government bailout of the banks and other institutions and three letters and four phone calls in favor of it.

The people are "very frustrated" about this government bailout plan, said Hirono about what she is hearing from her constituents.

Hirono said she would not support any plan unless it would get the economy back on track and protect taxpayers.

"The plan must, at the very least, rein in excessive executive compensation, require vigorous oversight and assist distressed homebuyers — maybe even including some bankruptcy protection for homebuyers," she said.

The front desk for the Washington office of Sen. Dan Akaka, D-Hawai'i, has been "bombarded with calls about the president's bailout proposal all week, getting about 10 times the normal call volume," said Jesse Broder Van Dyke, spokesman for the senator.

The vast majority of callers express reservations about the plan and a desire to know more, Broder Van Dyke said.

"One Akaka receptionist observed that at several points throughout the week, all six lines were ringing with incoming calls," he said.

Reach Dennis Camire at dcamire@gns.gannett.com.