Matheson, Bishop oppose bailout, Cannon supports

"The overriding issue is that no one convinced me this bill will fix the underlying problem. When you talk about spending $700 billion, you want to have some certainty about what impact it will have on the problem," Matheson said.

He said the Senate's version of the bill was worse than the original. "It was just larded up with unrelated issues to secure votes, and we're adding more debt on the federal balance sheet as a result." He said that's ironic because "living with too much debt is how we got into this problem."

Matheson added that passing the bailout "is just chapter one in a long process." He added, "I will ask Congress to take hard look in January when we return to look at the underlying causes of what happened," and how to fix them long-term.

Cannon earlier this week said he supported the bailout because he sees it as "necessary to get our frozen economy back on track."

Bennett, who had been a chief negotiator on the bailout, praised the House for passing it on Friday.

"I applaud the House of Representatives for rising to the occasion and doing what is in the best interest of the country," Bennett said. "The 1.2 trillion loss in the stock market on Monday (when the House originally defeated the package) served as a stark reminder of the severity of this crisis."

Bennett added, "This bill is not the answer to all of our economic problems, but is a critical step in the right direction to stabilize our credit market and restore confidence so ordinary American can keep their businesses open, collect paychecks and obtain loans."

Hatch explained his support of the bailout earlier this week saying the rewritten bill "is designed to help families. This law will help workers hand on to their retirement savings, help small-business owners make payroll and help restore the American people's confidence in their own financial well-being."

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