Both U.S. senators from Hawaii voted in favor of a $700 billion economic bailout plan that passed the Senate yesterday.

U.S. Sen. Daniel Inouye said after senators cast their votes supporting the economic rescue plan: “;It was a sobering moment for all of us. We are well aware that millions of Americans believe such a measure will only help Wall Street and not hard-working Americans.

“;However, we are also aware that doing nothing will cause almost irreparable harm to our economy,”; he said.

“;I hope my constituents and fellow Americans understand the Senate's plan significantly improves on what the White House initially proposed,”; Inouye said, adding it puts average Americans first and not Wall Street executives “;whose greed and reckless actions have brought us to this financial crisis.”;

He and Sen. Daniel Akaka highlighted that the plan is meant to address the weakness in the American credit market, which is making it difficult for Americans to secure college, mortgage and small-business loans.

“;And our state government has had problems with the market and had to delay the sale of bonds,”; Akaka said. “;So there are just the beginnings of a disaster in the marketplace, and it will be a disaster for the financial needs of our people.”;

Akaka, a member of the Senate Banking Committee, said he worked with committee Chairman Chris Dodd, D-Conn., to include provisions of oversight and accountability to prevent abuse, ensure proper management and reduce conflicts of interest, according to a news release issued yesterday.