MARKETS IN TURMOIL

Georgia’s Marshall stakes career on bill

The Atlanta Journal-Constitution

Tuesday, September 30, 2008

One of the more dramatic moments of a stunning Monday in Washington occurred over the radio.

Rep. Jim Marshall, a Macon Democrat, had just cast his vote in favor of the $700 billion Bush administration proposal to rescue Washington.

Marshall is in a Republican-leaning district, with well-funded opposition. President Bush has weighed in against him.

The day before, at a caucus of Georgia Democrats, Marshall was adamant that he and other Democrats should support the measure.

“I am willing to give up my seat over this,” he told his colleagues. It was that important, he said, to the national economy and national security.

The quote leaked, and Marshall was a sought-after property in the hours before the House vote. At about 2 p.m., Marshall was on the phone with National Public Radio.

“That’s an accurate quote. I was trying to persuade my colleagues to support this bill,” Marshall told his interviewer.

“I don’t want to help out one whit the irresponsible people who have dragged us into this,” Marshall said.

Still, he called his vote in favor of the bill the most important of his career.

“That’s truly what’s at stake here,” he said.

At that point, his interviewer gave him the news: “This bill has just gone down to defeat in the House, and the Dow has gone down 700 points,” she said.

“Oh my God,” Marshall said.

There was a lengthy pause before he continued.

“Well,” he said. “We voted to adjourn, subject to the chair, and I trust the speaker will be calling us back in session to see how this can be salvaged.

“I just hope that the damage that was predicted to be done if we weren’t able to pass something, does not occur, that the experts were wrong and that we don’t see the kind of terrible problems the expert said we would see if we couldn’t pass something.”

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