Harkin backs bailout despite opposition - KWWL - Eastern Iowa Breaking News, Weather, Closings

Harkin backs bailout despite opposition

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DES MOINES, Iowa (AP) - U.S. Sen. Tom Harkin concedes he supported a financial rescue plan despite overwhelming opposition back home.

Harkin says he voted for the bailout Wednesday only because he feared doing nothing would lead to chaos in the financial system.

The Democrat opted to back the plan less than five weeks before the Nov. 4 election, in which he'll seek a fifth term in office. His Republican opponent, Christopher Reed, says he's not sure how he would have voted but noted he is leery of government intrusion into the marketplace.

Iowa Republican Sen. Charles Grassley also supported the bailout.

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