Jim Inhofe: “I have been pretty outspoken in the last several weeks on the $700 billion bailout. I still believe historians will look…”

“I have been pretty outspoken in the last several weeks on the $700 billion bailout. I still believe historians will look back someday and say it was the most outrageous vote ever taken. It is the largest single expenditure in the history of the country. To make matters worse, it was giving an unelected bureaucrat total power, usurping our powers, to make all decisions over the $700 billion with no oversight whatsoever. It had never been done before. It was unprecedented in American history. Nobody seems to care. It is mind-boggling to me to know that it happened, and now it looks as though we will be voting in the other body as well as here on a motion that would be hostile to the whole idea, but it will not pass. The money is going to be there anyway. The reason is, if the legislation that will be coming before the House and the Senate is passed, it still can be vetoed by the President, and it would be vetoed by the President. So all of a sudden he is going to have the second half of the $700 billion, the $350 billion laid at his doorstep to do with as he wishes. I wouldn't want that for a Republican President or a Democratic President, for any President. It is not the way we are supposed to function. I believe it is a fait accompli. I don't see any way a resolution of disapproval is going to be effective, because I think it is going to pass the House and very likely could pass here. I am inclined to think it will not.”