Tierney: Compromises weakened bailout plan

Moments after voting against the Wall Street bailout plan, Congressman John Tierney said Monday that key provisions in the legislation were weakened during the negotiation process.

U.S. Rep. John Tierney (D-Salem)"There were compromises made in this version of the bill, ostensibly to gain bipartisan support," the Salem Democrat said in a statement. "Unfortunately, such compromises were made at the expense of key priorities -- investment in helping homeowners, protections to ensure that the taxpayer will not have to absorb the full cost, and incentives to get the economy back on track."

Tierney also noted that he is optimistic that the House will continue to work toward a better bill this week.

"This bill can be improved," he said, "and a different approach can be taken. We expect to continue reviewing this matter as the week progresses."