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Cannon calls bailout only real option; Bishop hopeful

Cannon calls bailout only real option; Bishop hopeful



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It's the morning after the single largest daily point loss in the history of the Dow Jones Industrial Average, and many people are blaming Washington.

One Utah congressman, Rep. Chris Cannon, voted for the bailout.

He says the situation is dire as trillions of dollars of wealth evaporate. He told KSL's Nightside Project that Republicans should hope for a 2,000 point Dow recovery today.

"If it doesn't happen, the Republican Party has probably committed suicide," he said.

He says maybe there will be some tweaks to the bill Thursday, but it is the only substantial option.

Utah Congressman Rob Bishop voted against the bill yesterday, but he says he still has hope for the bailout.

Bishop says something needs to happen, and it may happen before the end of the week.

"I think a little tweaking will give a comfort level to at least the hundred Democrats and hundred plus Republicans who voted no," he said.

Bishop told Utah's Morning News to this point there simply have been too many arbitrary deadlines. He says all Wall Street needs to know is something is coming soon.

Utah Rep. Jim Matheson also voted against the bill yesterday.

Representatives will get back to work on it Thursday.

E-mail: aadams@ksl.com

Andrew Adams

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