The Hattiesburg American, 10/2/8

Rep. Gene Taylor, D-Bay St. Louis, voted against the financial bailout package that was defeated in the U.S. House on Monday.

On Wednesday, he said he would do it again.

“If I had to choose between hell no, no and yes, I would have pushed the hell no button,” Taylor said during a stop at the Hattiesburg American.

He said he is unlikely to vote for the bailout, which may come before the House again today, under any terms.

Instead of throwing money at the problem, some regulations need to return to the banking industry, he said.

“The first thing we need to do is put the Glass-Steagall Act back on the books,” Taylor said.

The act was passed in 1933 and was repealed in 1999 when Congress removed restrictions on bank and securities-firm affiliations. Taylor voted against the repeal.