Local reaction on bailout - KTRE.com | Lufkin and Nacogdoches, Texas

Local reaction on bailout

By Mystic Matthews

LUFKIN, TX (KTRE) - A financial bailout proposed by the United States Treasury and the Federal Government has failed in the house.  Wednesday night, it heads to the senate for a vote.

We asked locals Lufkin what they thought of the impending financial crisis.  Most agree with the recent rejection that a bailout is not the answer and want to see other options before any decision is made.

"I just think the bailout would be a simple, quick fix, not a permanent solution.  They need to really see and study and take the politics out of it," says Suzanne Barber.

"I don't know if they can do anything quick, but they'll come up with a quick fix, but it won't last. Somebody is going to have to get in there and do something about it," says Mike Hartman.

Congressman Louie Gohmert organized a conference call with numerous bankers in East Texas to get their input on the financial situation. He says our local banks are doing well and they will continue providing loans and serving our communities.

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