Jim McDermott (my Congressman) explains his vote on that $700B bailout:

[pnorman]

Rep. Jim McDermott, Democrat, 7th Congressional District (Seattle). Voted for the bill.

"I thought long and hard about it, and I know that (House Speaker) Nancy (Pelosi, D-Calif.) and (House Financial Services Committee Chairman) Barney Frank (D-Mass.), who negotiated it, care about the American people in much the same way I do and they got the very best deal they thought they could get. I can tell you 27 reasons why it was not a good package but I think we needed to get started on this issue," McDermott said in an interview with the P-I.

McDermott said the Democrats who voted against the bill shared his concerns about it: that it didn't give the government enough of an equity stake in the distressed assets that would be bailed out; that it didn't provide for enough oversight by Congress; and that it didn't offer homeowners enough protection from foreclosure.

McDermott also said he wished Congress could hold hearings on the bill.

"We're trying to do this on the back of a galloping horse," he said.
Despite the setback for the bill, McDermott said he thinks negotiators will resume discussions and produce a financial rescue package that can win approval.
"Every time something like this happens, people think it's the end of the world; it's not," he said. We're going to come up with something, I think, because everyone agrees something needs to happen."

http://blog.seattlepi.nwsource.com/seattlepolitics/archives/149886.asp?source=mypi