Donnelly Congressman Joe Donnelly, in a tele-conference call Tuesday morning with news media across the state, said the financial rescue package voted down by members of the U.S. House of Representatives Monday was not a "bail-out" for mortgage and insurance companies. He said the package will prevent the loss of jobs and retirement savings on Main St., U.S.A.

"I am angry at the greedy people who put this country in this position," he said. "But this is the best way to protect our jobs and our futures."

"This bill is not to help Wall Street," he added. "It is to ensure our economy will run smoothly."

Donnelly said he would vote for the same bill when the vote is taken again, which is expected later this week. He emphasized the taxpayer would not lose money with the plan. He stated it was important for Congress to ensure American jobs were preserved as well as to protect 401k retirement and savings accounts.

"This is not a perfect piece of legislation. The goal is to provide stabilization," he said. "Something has to be done."

Donnelly said he expected a different outcome with the next vote.

"The people who voted 'no' the first time will re-evaluate the situation and that will provide a new perspective," he said.

The Congressman briefly described the plan which included government oversight "put back into the game." He said banks would have to pay back "every penny to the taxpayers." The banking and lending model established would ensure "prudent, responsible banking" when followed, Donnelly added.

The Comet's non-scientific Web poll question last week was, "Do you agree with the federal government's bailout of mortgage and insurance companies with our tax dollars?" Seventy-one percent of respondents answered "No" while 19 percent said "Yes."

It was noted that 93 Congressional Democrats also voted against the bill Monday afternoon.

Donnelly said Carroll County residents must realize the bill is not a bail-out but a measure to save retirement and savings accounts while protecting jobs and the economy. He said government oversight would protect the American taxpayers.

"But I am as angry as anyone about this," he concluded.

A staff member from Donnelly's office, or Donnelly himself, will be available for office hours today, Wednesday, from 4 to 5 p.m. at the Delphi Public Library.