‘We Chose Panic,’ Senate’s Top GOP Banking Expert Declares as He Rips Bailout

(CNSNews.com) - The leading Republican on the Senate Banking Committee systematically shredded the $700-billion financial industry bailout bill in a speech delivered on the Senate floor last night shortly before the bill passed by a 75-24 vote.

Sen. Richard Shelby (R.-Ala.) concluded his indictment of the bill by telling Senate colleagues: “The choice we faced was between pursuing an informed response, or panic. I think we chose panic.”