Kagen joins two state Republicans in voting against Wall Street bailout

Opponent Gard also opposed legislation

U.S. Rep. Steve Kagen of Appleton joined roughly 40 percent of House Democrats in voting against the $700 billion bailout for Wall Street firms and financial institutions.

“I was elected to represent the best interests of families in Northeast Wisconsin - not Wall Street,” Kagen said in a prepared statement.  “We have seen so many people lose their jobs and struggle just to keep their heads above water.  I am on their side and this bill does not help them.”

John Gard, Kagen’s Republican opponent in November, said he also would have voted no to the bill.

Kagen expressed doubt about the bill’s potential effectiveness and who will ultimately profit from it.

“It’s time to get back to the basics.  Let’s bring those who have broken the law to justice, clean up the mess and write laws that favor families who work hard and play by the rules.  I'm prepared to come back to Washington for as long as it takes to help resolve this mess brought on by the losing borrow-and-spend policies of this administration,” said Kagen.

Gard said the financial services rescue plan pushed by the Bush Administration asks too much of taxpayers.

“I appreciate and support the need to provide stability to our financial markets, and believe some steps in the right direction were made on the final package. However, Congress should have do more to protect the taxpayers and do more to hold those responsible for this mess accountable for their actions,” Gard said in a prepared statement.