WASHINGTON, D.C.—New Jersey congressmen split 7-6 in voting against the $700 billion Wall Street bail out plan proposed by the Bush administration in the wake of a nationwide mortgage crisis, which triggered bank failures and a diminutive stock market crash Monday.
Democrats Donald Payne, Steve Rothman and Bill Pascrell voted against the $700 billion proposal along with Republicans Rodney Frelinghuysen, Scott Garrett, Frank LoBiondo and Chris Smith.
Republicans Mike Ferguson and James Saxton joined Democrats Rush Holt, Albio Sires, Frank Pallone and Rob Andrews in voting for the financial bailout package that had been negotiated by the White House and a bipartisan group of elected and appointed officials.
