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Rep. John McHugh (R-Pierrepont Manor)
Rep. John McHugh (R-Pierrepont Manor)

McHugh: Bailout "ugly" but necessary

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Lawmakers on both sides of the aisle reacted angrily and skeptically to the Bush Administration's $700-billion financial bailout plan yesterday. Democratic Senator Chris Dodd, who chairs the Senate Banking Committee that held yesterday's hearing, called the proposal "stunning and unprecedented in its scope and lack of detail." Republican Senator Jim Bunning of Kentucky called it "financial socialism." North Country Congressman John McHugh says he shares those concerns. But he says the bailout is necessary. The Republican told David Sommerstein many of the financial executives don't deserve saving.

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David Sommerstein
Reporter/ Producer

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