StarBulletin.com

Hawaii voters decry federal action


By

POSTED: Friday, September 26, 2008

Voter reaction to the massive federal bailout of financial institutions has been overwhelmingly negative, according to Hawaii congressional offices.

“;This is madness to ask us, the taxpayers, to cover the liabilities of Wall Street,”; wrote one man in an e-mail to U.S. Rep. Neil Abercrombie. “;We are tired of being fleeced.”;

A woman e-mailed to Abercrombie: “;As a hardworking and responsible citizen, I am opposed to the use of taxpayers' money to redeem private businesses who are where they are today because they built a poor business model, failed to assess the risks in their ventures, and basically were driven by greed.”;

There have been only a few in support of the controversial bailout, said Jaclyn Zimmerman, spokeswoman for U.S. Rep. Mazie Hirono.

“;The general consensus on the phone calls at the beginning were people being very upset and they didn't want to rush in and throw all our taxpayer dollars to this bailout,”; Zimmerman said.

One day after President Bush warned the nation of the impending economic crisis, callers still asked Hirono to exercise caution before authorizing any bailout.

Hirono said taxpayers are not interested in giving their money to the companies without oversight.

“;And neither are we,”; Hirono said. “;The negotiations continue, but we're very clear on the need on protecting the taxpayers, making sure there's an oversight board and making sure the CEOs don't get away scot-free.”;

Abercrombie's office has received “;hundreds”; of e-mails and phone calls across the state and the mainland, said spokesman Randy Obata.

“;Homeowners need help, not the billionaires who gambled and lost,”; wrote another Hawaii man. “;Wake up and take the podium for the people of America, not for the rich fat-cat Wall Street crooks.”;

One caller asked to limit executive salaries for the company, a compromise that Congress and the Bush administration agreed upon in working toward a final deal.

“;Corporations benefiting from the bailout should put their positive assets up as collateral,”; one caller said. “;I would rather give up all of my personal assets than to see those creeps get all that money when they didn't want government intervention in the first place.”;

Abercrombie said he remains skeptical about Bush's Wall Street bailout plan, saying there is “;too much at stake.”;

“;We're being asked to place bets on our economic future, and our children's economic future, with the same hustlers who caused this financial crisis,”; he said.

Abercrombie said he would not agree to a bailout until a plan is finalized. He hopes to gather input on a final plan from local residents before putting it to a vote.

U.S. Sens. Daniel Inouye and Daniel Akaka were not available for comment yesterday.