In shift, Hagan supports new bailout dollars
RALEIGH (AP) - North Carolina Sen. Kay Hagan supports the release of $350 billion in bailout funds, shifting her position just a few months after opposing a bailout bill that passed while she was running for Congress.
Hagan said Thursday that President-elect Barack Obama provided assurances that the new money will be invested transparently and with accountability.
The Democrat from Greensboro was vocally opposed to the bailout measure during her campaign. She called it a fix for Wall Street, not Main Street and said it only addressed half the problem.
Hagan said the new bill helps Main Street by limiting executive compensation and helping homeowners facing foreclosure.
Hagan took the oath of office last week, replacing Republican Sen. Elizabeth Dole.
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