Burr votes yes, Dole no, on bailout

U.S. Sen. Richard Burr, a Winston-Salem Republican, supported tonight's Senate vote on a bailout deal for the financial markets. In a statement on the Senate floor, Burr said he believes both the markets and small businesses need the stability that a rescue plan will offer, warning of an economic downturn rivaling the Great Depression if action isn't taken.

Burr also blamed the crisis on "greedy behavior."

"Much of what got us to this point was not only reckless behavior on Wall Street, but also the fact that many people took out risky mortgages that they simply could never afford," Burr said.

U.S. Sen. Elizabeth Dole, a Salisbury Republican, voted no. In a statement released this afternoon, Dole said Congress should take more time to develop a better plan.

"Now is the time for careful, deliberate actions - not hasty, knee-jerk reactions," Dole said. "I will stand up for the taxpayers and vote no."

Dole said she wants "a market-based solution, not a government bailout." She said the current plan would do nothing to address the housing crisis and would help foreign investors before it helps homeowners.

She called for a plan that would tax credits for homebuyers and that would offer a loan program rather than direct payments for illiquid assets.