Wed, Oct 01, 2008 - Page 7 News List

Taiwanese-American votes against bill

By Charles Snyder  /  STAFF REPORTER IN WASHINGTON

The only Taiwanese-American in Congress, Representative David Wu (吳振偉) of Oregon, voted against the House of Representatives’ emergency financial bailout bill because, he said, “this hasty bill was not the right answer.”

Wu was among the minority of Democrats who voted against the bailout, which was rejected by the House 205-228.

Republicans voted 2-1 against the bailout bill.

In a statement after the vote, Wu said the bill, which centered on a US$700 billion bailout to the financial industries, “didn’t have adequate protection for taxpayers.”

“I am committed to staying here [in congressional session] as long as it takes to do the right thing,” Wu said.

Taxpayers, he said, deserve “a thoughtful solution” to the crisis, including meaningful regulations “to rein in the over-the-top excesses of Wall Street,” and provisions to have “the people who caused this problem bear some responsibility for fixing it.”

Wu was born in Hsinchu in April 1955 of Chinese parents who moved to Taiwan after the Chinese civil war and emigrated to New York in 1961. Moving to Oregon, where he established a law firm after graduating from Yale Law School, Wu was elected to Congress in 1998.

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