Many voice anger over $700b outlay

From Boston to Southern California, many Americans are questioning the government's plan to spend $700 billion to rescue ailing Wall Street investment firms.

A series of hastily arranged demonstrations were held yesterday to protest the plan, including one on Boston Common and one outside the White House. Some US lawmakers said they were flooded with calls and e-mails from constituents expressing concern. And public opinion polls showed widespread opposition.

A Suffolk University/Boston Globe poll of 400 Massachusetts residents this week found nearly twice as many people opposed the White House proposal as supported it. About 49 percent disagreed with the plan, while 29 percent agreed with it.

National polls have also found widespread skepticism. A Los Angeles Times/Bloomberg poll found that 55 percent of Americans opposed using taxpayer money to support a bailout plan. An NBC/Wall Street Journal poll earlier this week found one-third of US voters supported the plan. Another one-third opposed it.

In downtown Boston yesterday, several people interviewed about the rescue plan questioned why taxpayers had to rescue corporate America. "These big companies sold us something. They have made big money. And then we have to pay?" asked Dan Wang, 35, of Brookline.

John Weston, 62, of Providence, wondered why Congress needed to act so quickly. "We're going into this like we went into Iraq," Weston said, referring to President Bush's decision to go to war five years ago. "The president is saying, 'I know what we have to do, and we have to do it now before the weekend.' "

The anger appears to cut across party and ideological lines. Some conservatives have questioned whether the government should interfere with the free markets. And liberals have asked why the government is bailing out Wall Street institutions instead of aiding struggling homeowners, especially when many financiers stand to earn millions of dollars in bonuses.

While many Americans oppose the bailout plan, many also believe something must be done.

Mary L. Gardiner of Boston said she generally supported the $700 billion plan, provided there are provisions to make sure Treasury Secretary Henry Paulson doesn't have unlimited power to administer the aid.

"It is a good idea, but I think they need to examine how much power Paulson has," Gardiner said. "Thank goodness congressmen are speaking out about this."

Despite lawmakers' work to address objections to the plan, public anger erupted in a flurry of protests yesterday. Truemajority.org, a Washington group, said it was helping to organize protests in 190 cities and towns in 40 states through next week.

Outside the White House, a few hundred people rallied in the late afternoon rain.

A coalition of groups calling itself the Main Street Coalition marched from the Treasury Department down Pennsylvania Avenue, chanting "No deal for Wall Street, New Deal for Main Street" and handing out copies of a "Taxpayer Invoice" for $700 billion.

"Something has to be done, but this is going to be put on the backs of the average taxpayer when they had nothing to do with it," said Skip Roberts, 63, a government affairs specialist for the Service Employees International Union.

On Boston Common, about two dozen activists handed out leaflets opposing the plan. One held a sign aloft that said, "No Bush, No Bail Out," while yelling at passers-by.

The movement took shape over the weekend after Truemajority.org urged its 700,000 members and partner organizations to contact members of Congress. When it became clear that many members wanted to do more, the group started to recruit volunteers to hold "emergency rallies," said Matt Holland of Truemajority.org.

The Neighborhood Assistance Corporation of America, a Boston homeownership group, held its own protest in Washington with about 150 people in the offices of two Senate leaders yesterday, said Bruce Marks, the group's chief executive. The group opposes the bailout, instead advocating a plan to stop foreclosures against homeowners and a freeze on rising mortgage rates.

Todd Wallack can be reached at twallack@globe.com and Bryan Bender at bender@globe.com. Globe correspondent Jonnelle Marte contributed to this report.