State’s reps vent with bailout votes

By Lisa Mascaro

Friday, Jan. 23, 2009 | 2 a.m.

Nevada’s lawmakers have reflected public discontent over the Wall Street bailout by voting against the next release of money.

All three House lawmakers voted Thursday to reject releasing the second, $350 billion installment of the $700 billion federal aid package to shore up the financial services industry.

The vote was largely symbolic — the money had been approved based on action last week in the Senate.

Democratic Rep. Shelley Berkley said Thursday she was not convinced the money was being wisely spent.

“There’s never been a full accounting,” said Berkley, who voted for the original Wall Street rescue plan in October despite her initial reluctance. “Until we have an idea of where the original $350 billion went, we shouldn’t be voting for another $350 billion.”

Newly elected Rep. Dina Titus, also a Democrat, had campaigned against the bailout as part of her effort to unseat Republican Rep. Jon Porter, who had supported the rescue plan.

“I cannot support releasing the funds until there are sufficient safeguards to ensure accountability and transparency,” Titus said in a statement.

Republican Rep. Dean Heller also voted against releasing the money. He voted against the first bailout.

The House voted 270-155 to reject releasing the money, with 99 Democrats joining Republicans.

In many ways, the House vote was an easy one in that it has no real effect. The money will be released to the Obama administration anyway.

The Senate tried and failed last week to block the release. Under the original bailout bill passed in October, both houses of Congress would have to reject the disbursement for it to be blocked. Republican Sen. John Ensign was among the 42 senators who voted to reject the release — becoming one of several senators who supported the initial bailout but not this one.

Ensign’s spokesman said he was concerned about how the money was being spent.

Senate Majority Leader Harry Reid is the only Nevada lawmaker who voted to release the money.

A report issued in December said the Treasury Department needed to improve accountability and oversight of the program, as it was unclear whether the money was being spent appropriately. Opinion polls show the bailout is unpopular with the public.