San Diego Democratic Congressman Bob Filner says the $700 billion financial bailout package is not the best way to stabilize the economy. KPBS Reporter Ed Joyce has details.
The Senate votes tonight on a revised financial bailout package.
Many economists say it's needed so Americans can continue to borrow money.
San Diego Democratic Congressman Bob Filner voted against the plan when the House rejected it Monday.
Filner:
Well I saw this as a typical trickle-down kind of economic policy that has not worked for the majority of Americans. That is, they bail out or give money to the wealthiest and the biggest companies and hope that it'll trickle-down to the rest of us at the bottom.
He says the President is going about solving economic problems the wrong way.
Filner says the financial system can be stabilized by allowing people to renegotiate their home loans rather than giving the money to Wall Street.
He expects the revised bill may have enough support to pass the House later this week.
Filner made his comments on the KPBS program These Days.
Ed Joyce, KPBS News.
