G.O.P. Bigs Back Bailout Condemnation
EmailABC News’ Teddy Davis Reports:
During a Monday debate in Washington, D.C., five of the six Republicans hoping to chair the national party endorsed a resolution which would break with President Bush and GOP congressional leaders by putting the party’s governing body on record as opposing the recently enacted bailout of the financial industry.
"The bailout was a bust. It should never have happened. Republicans should have had a little bit more you-know-what to withstand the pressure. They didn’t and we’re paying for it. I absolutely support the resolution because it reflects the frustration of our base," said former Maryland Lt. Gov. Michael Steele.
Steele was not alone in voicing his support for a resolution condemning the bailout. Joining him were Michigan Republican Party Chairman Saul Anuzis, South Carolina Republican Party Chairman Katon Dawson, former Ohio Secretary of State Ken Blackwell, and former Huckabee campaign manager Chip Saltsman.
The resolution, which was co-authored by R.N.C. Vice Chairman James Bopp, Jr., and Oregon Republican National Committeeman Solomon Yue, will be considered by the party’s resolutions committee on Jan. 29. To be adopted by the party, the resolution must get beyond the resolutions panel and win a majority support from the RNC’s full 168-person membership.
The candidates for R.N.C. chair were asked for their positions on the bailout resolution by debate moderator Grover Norquist who heads Americans for Tax Reform, a conservative anti-tax group.
"There’s a resolution that’s being offered to the Republican National Committee criticizing the bailout that was done this summer for the banks suggesting that it was criminally stupid . . . is this a resolution you intend to vote for? Or, if you’re not on the committee, would you support its enactment?"
The only candidate who did not endorse the resolution during Monday’s debate at the National Press Club was Mike Duncan, the current RNC chairman who is seeking an additional two-year term.
"This is not the kind of question I believe you can answer with ‘yes’ or ‘no,’" said Duncan. "As a banker, I probably understand this as well as anyone on this stage."
Although he stopped short of offering an on-the-spot endorsement, Duncan had critical words about the bailout.
"I resent the TARP money," said Duncan, referring to the Troubled Assets Relief Program contained in the Wall Street bailout plan. "And I think there are problems in this whole area."
Bopp was delighted by the anti-bailout sentiment expressed at Monday’s debate.
"There is widespread understanding among Republicans that we have to do this," said Bopp, referring to his anti-bailout resolution.
"Bush has been a fabulous president," he continued, "but nobody is perfect and this was a serious error which was not controlling spending, not controlling earmarks and then doing the bailouts. Unless you say you’re wrong, no one is going to believe you when you say that you’re not going to do it again."
In quickly describing the resolution at Monday’s debate, Norquist only referenced its condemnation of the bailout that the financial industry received.
In an interview with ABC News, Bopp explained that the resolution goes much further.
"The resolution opposes the bailout of the financial industry and their nationalization," said Bopp. "It opposes the bailout and nationalization of the auto industry, and it opposes any future bailouts including Obama’s public works projects which amount to a bailout of cities and states because they would have the federal taxpayer assume the responsibility to pay for all the state and local public works projects."
Bopp, who backed former Gov. Mitt Romney’s, R-Mass., presidential bid and is uncommitted in the RNC chairman’s race, thinks Sen. John McCain, R-Ariz., blew his chances against Barack Obama by voting for the Wall Street bailout.
"If McCain had voted against it, I think he would have won the presidency," said Bopp. "He would have separated himself from Bush. He would have showed that he was not an insider. He would have showed that he understands the American people."
Norquist, who is neutral in the GOP chairman’s race, told ABC News that the anti-bailout resolution is important because it gets the RNC "back into the swing of having an opinion as a party" on something as central as "giving $750 billion of other people’s money to people whose claim to fame is that they lost their money."
ABC News’ Ferdous Al-Faruque contributed to this report.
Gulf of Mexico to Become Gulf of America? 
Can Mitt Romney Win Conservatives Back?
It’s about time somebody challenged this march of lemmings to the sea of bankruptcy for our nation.
The economy is cyclical and will right itself in short order. We got into this problem by keeping interest rates too low and allowing unqualified people to buy houses.
Let’s not complicate it anymore by continuing to spend money we do not have and bankrupting our future to make Wall Street go higher.
Posted by: jim 234 | January 5, 2009, 9:04 pm 9:04 pm
Did anyone ever really believe this would work? Money down the tube and in many cases, probably straight into the offshore accounts of the rich. Paulson is the worst treasury secretary that could have possibly been in charge of this. I KNEW IT!
Posted by: LongT | January 5, 2009, 9:28 pm 9:28 pm
Not sure what this resolution would accomplish other than saying “we told you so,” but the bailout has definitely been a shameful waste: http://articles.moneycentral.msn.com/Investing/CompanyFocus/the-10-worst-bailout-boondoggles-slides.aspx?slide-number=6
Posted by: 1bluestocking | January 5, 2009, 9:48 pm 9:48 pm
Bush a wonderful president…
What planet has this nut been visiting?
Posted by: MrSleepy | January 5, 2009, 9:50 pm 9:50 pm
Jim 234 is right! Bears and bulls are cyclical and therefore should allow this to correct itself. What a wasted worth of effort and taxpayers money.
Why must financial institutions and car companies be given highest priority and allow to survive by bailout? Nevertheless, these are corporations and shld adopt the same style to be efficient and then profitable.
The Govts have dug themselves so deep that when (not if!) these bailout fails, even the Govt is a pauper and have to increase taxes
Posted by: Alan | January 5, 2009, 9:53 pm 9:53 pm
More Monday morning quarterbacking from people who aren’t fit to be water boys. They have no idea of what a good or bad idea is. Ample evidence can be found in the quote “Bush has been a fabulous president.” For all they know, TARP could indeed be working, they’re just too stupid to know the difference. Thank goodness the smart people take over on January 20th. They’ll either use TARP, adjust it or ditch it. But they’ll do it after intelligent analysis. All these cretins can do is whine and apologize for their fallen monkey king. What a bunch of losers, they make me sick.
Posted by: hey Scoob | January 5, 2009, 9:54 pm 9:54 pm
Finally reengaging their minds. How come we elect teenagers to office?
Posted by: JC | January 5, 2009, 9:57 pm 9:57 pm
Republican economic policies since Reagan have caused the crises we’re in today. Listening to anything this same group offers by way of criticism or suggestion is for amusement purposes only. Where were these whiners when Bush was flushing hundreds of billions down the toilet he called the central front of the war on terror? And as for expressing opinions, it would be nice if they could say something constructive, but they can’t!
Posted by: Butch Dillon | January 5, 2009, 10:04 pm 10:04 pm
Republican hypocrites.
You have not seen anything yet. Your party is finished.
You voted to give money to the super rich Wall Street CEOs who ran down the economy and now you are pretending to hate the stimulus package because President Obama intends to extend it to help Main Street.
Damn hypocrites. You will be crushed in the 2010 elections.
Posted by: Steve_NJ | January 5, 2009, 10:15 pm 10:15 pm
Republicans should do America a favor and just leave.They could all go to Irag and screw that up some more.
Posted by: con me not | January 5, 2009, 10:23 pm 10:23 pm
Ron Paul’s on the phone again. He’s calling to say “I told you so…”
Posted by: Skeptic | January 5, 2009, 10:24 pm 10:24 pm
Too Funny, The republican party is done. I agree with this comment posted by Butch Dillon: Republican economic policies since Reagan have caused the crises we’re in today. Listening to anything this same group offers by way of criticism or suggestion is for amusement purposes only. Where were these whiners when Bush was flushing hundreds of billions down the toilet he called the central front of the war on terror? And as for expressing opinions, it would be nice if they could say something constructive, but they can’t!
Posted by: rightbehind | January 5, 2009, 10:32 pm 10:32 pm
The blind leading the blind!!!!
Posted by: sisterdearest09 | January 5, 2009, 10:49 pm 10:49 pm
The GOP led us down to the path of financial meltdown. Markets require confidence to work. We all invested, people bougtht and sold securities based on some confidence that the financial regulations in place were being enforced. Under Bush and a GOP Congress they were not and let things slide.
McCain lost the election for a number of reasons, the principal one is that he forgot the nation was center right and he made a hard right to keep the GOP base happy.
We all know that the GOP BASE is never and will never be happy. McCain and the GOp were clueless for years on their spend thrift, look the other way governing. McCain and the GOP lost on putting personal financial gain ahead of the nation or trying to impose thier reglion upon the country. The should see that over half of the nation does not idendify as being Christian and have not desire to live a Christian theocracy.
Posted by: scott jeffries | January 5, 2009, 10:50 pm 10:50 pm
If these Republicans truly mean what they’re saying, they will support a bill requiring these financial institutions to lend $$$ now or pay it all back under threat of jail time for the CEOs of these banks. AND support a bill limiting/eliminating the golden parachutes. Otherwise, it’s all just political posturing.
Posted by: realvalues | January 5, 2009, 10:52 pm 10:52 pm
God how out of touch can you get. Condemn it after the fact.
Good job GOPers. Thank god you didn’t win.
Posted by: keredte | January 5, 2009, 10:54 pm 10:54 pm
Where were the GOP budget hawks during Bush’s years of squandering on the War in Iraq? And during his handing the keys to the kingdom to his Wall Street buddies with the help of Congressional Republicans, as well as the, at the time, minority Democrats?
I agree with their condemnation, but it’s a little late now. If Bush and Congress hadn’t run up this huge deficit with the tax cuts for the rich and with the Iraq War, then we’d be able to handle a stimulus now for the average citizen when it is so badly needed but all the money has already been blown by the Bush Administration. It’s a little late to grouse about the size of Obama’s stimulus package. That is only a relatively small part of our whole national debt picture run up since the Repubicans had control of both houses of Congress and the White House.
Posted by: JL | January 5, 2009, 11:11 pm 11:11 pm
The people who are blaming Republicans today for deficit spending will be blaming Democrats in another six months. Obama is proposing a trillion dollar stimulus plan. On top of this the US automakers will be back to ask for another 200-300 billion dollars. The steel industry is asking for another trillion and Democrat governors are asking for yet another trillion. There is even talk of the newspapers wanting several hundred billion to bail their sorry rears out.
The Democrats are simply not going to tell these people no. I don’t have any faith that Obama will be willing to take on his own party to stop this insanity. If he does not then we are in for a very long and very painful depression. The federal government is out of control with each pary trying to outspend the other in promising giveaways to their supporters.
Posted by: gerry | January 5, 2009, 11:38 pm 11:38 pm
Ron Paul fan Grover Nordquist was the moderator. The RNC might be getting their act together after all. Maybe they realize Dr. Paul was correct on the bailout. Yeah!
Posted by: Huh | January 6, 2009, 12:45 am 12:45 am
republican “trickle down economics” and a hands off attitude by an 8 year republican administration is what led us to this point. Its just a wonder they didn’t rename that theory “Patriot Economics” so the simple minded could wave flags while the country went down.The republicans put us in the crapper-and want to complain when the rest of us have to go to work to figure out how to get us out. The republican party is dead and dying and for good reason. Their ideas are old-they haven’t worked even in the regan days-and they cling to their old ideas like a deflated life preserver-I am from Oregon and never heard of the moron who proposed this-but then oregon is the wilderness for a republican..ship them all to Alaska-then if we get invaded by Russia-they can be the first responders-or put them on the frount lines in Afganistan..If you like war so much-go fight one…
Posted by: cowgirlblues | January 6, 2009, 7:18 am 7:18 am
What a boondoggle nonsense coming from some of the republicans now….where were their outrage when the nation ran up more than a trillion dollar deficit? Spend and spend has been the last two-terms mantra. What an embarrassment for the rest of us who knew better.
Posted by: ConservativesForJustice | January 6, 2009, 7:42 am 7:42 am
God Bless the GOP. When your new democrazy monkey king (as hey scoob put it) puts us trillions more in dept the GOP will be there to pick up America! The uhhh, andddd, Iiiiii, uhhhh man doesn’t have a teleprompter preprogrammed to make his huuuu decisions, his uhhhhh answers are not uhhhhh, uhhhhh, dhuuuu prewritten. Lets hope he huuuu doesn’t have to make a decision on the uhhhh spot.
Posted by: alreadysickof dems | January 6, 2009, 7:45 am 7:45 am
As someone else mentioned, all this amounts to is a big “I told you so”. How about repealing the TARP act and asking for the money back.
Posted by: Terri508 | January 6, 2009, 8:09 am 8:09 am
What the GOP did when it was in control was use up all the tax payer monies and then some to bail out the mismanaged mega companies on wall street and pay millions just in bonuses to the CEOs and the top executives. Now when it is time for the middle class to get some left over crumbs to stimulate the economy they are saying the party is over, it did not work. Well it was not supposed to work it was an exclusive party for fradulent people. Party should be over for the GOP, like the made off with billions, GOP is the gone off with billions party.
Posted by: gjkotw01 | January 6, 2009, 8:13 am 8:13 am
I will vote out my representatives that voted for any bailout past, present and future.
Posted by: Joe Average | January 6, 2009, 8:26 am 8:26 am
The American people voted convincingly for Barack Obama over John McCain because for the last eight years the Republican administration has had NO plan. John McCain had NO plan. The Republicans continue to have NO plan. Leave things alone and stay the course is NOT a plan. It is obvious that the only intentions the Republicans have for the coming administration is to play the role of obstruction. A little over two years ago the American people tossed several Republicans from Congress and this past election several more were tossed out. It seems the Republican “leadership” doesn’t get it. For whatever reason they strongly believe they should dig in their heals on “conservatism”. Conserve meaning’ no change. We want a change in direction and Obama with his vision is the change we voted for.
Posted by: dan | January 6, 2009, 8:27 am 8:27 am
When the U.S. government created social security, it told us that it would save our money for retirement. It didn’t. Instead it spent the money. After it spend the money, it borrowed against the account (like a double mortgage). Now there is no money. When Fannie Mae and Freddie Mac were created it was so that people who couldn’t afford to buy a home could buy a home. This failed too. The U.S. mail is another federally run program, which is why we have UPS and Fedex. Time and time again our elected officials say the same thing, ‘just give us more money and we’ll fix the problem’. The problem is that Federal involvement is more than half the problem. Did banks and corrupt institutions play a hand in this? Sure. But even without this problem, the U.S. was already headed for a credit crisis. If the U.S. government stopped spending altogether and just paid our debt, it would take 10 years to pay off. And what is Obama’s plan? To take the national debt from about 9 trillion to about 12 trillion. American taxpayers need to revolt. We’re being robbed. We, our children, and our children’s children.
Posted by: jche | January 6, 2009, 8:31 am 8:31 am
They can say whatever they want now, the money is gone and no new credit. Wow! Surprise! Wish my congress people would have sided with my letter.
Posted by: Dennis | January 6, 2009, 8:35 am 8:35 am
We wrote to Congress in unprecedented numbers pleading with them not to pass the TARP bill. They did it anyway. Some people (most likely Paulson’s buddies) have gotten very rich off the taxpayer’s backs. Obama voted for it, Pelosi voted for it, Frank voted for it, yet they were ALL returned to Washington by the voters. Our system of government is absolutely broken.
Posted by: MadeInUSA | January 6, 2009, 8:38 am 8:38 am
All of a sudden the Republican Party is talking about fiscal responsibility. I’ve been laughing so hard that I can’t get up off the floor. 8 years of George Bush and 6 years of Republican control of the congress and these Repukes gave us the largest deficits in the history of the country, put us into two recessions and possibly a depression. Now all of a sudden they became smart about the economy. Sheesh, what a bunch of frauds. The GOP should be embarrased.
Posted by: Drew Hoffman | January 6, 2009, 8:48 am 8:48 am
EVERYONE INCLUDING BUSH KNEW THE BAILOUT WOULD NOT WORK. IT WAS A WAY TO HELP ALL HIS RICH FRIENDS BEFORE HE LEFT OFFICE. HE KNOWS THEM ALL AND THEY HELPED GET HIM AND KEEP HIM IN OFFICE. YOU KNOW THAT IS THE WAY AMERICA WORKS. YOU SCRATCH MY BACK I SCRATCH YOURS. THE AMERICAN PEOPLE DID NOT BUY INTO IT. BUT WASHINGTON REPULICANS AND DEMOCRATS DID IT ANYWAY. THEY GAVE BUSH WHAT HE WANTED. THEY DID NOT LISTEN TO MAIN STREET ONLY TO BUSH. Most of them in Washington are already rich and looking out for their investments.
Posted by: lowes4321 | January 6, 2009, 9:06 am 9:06 am
One of the poorest journalistic train-wrecks of the new year was provided by Chris Cuomo this morning in his idiotic interview (1/6/09) of Barney Frank.
Cuomo refused to listen to Sen. Frank and regurgitated the same questions; then tried to unsuccessfully “couch” the answers to seemingly “indict” Frank and the Democratic Congress for this mess. Frank repeatedly told him the other half ($350bn)of the financial bailout was not admnistered by Paulson as agreed and as such, the remaining $350bn was “frozen” until the new administration took office where he felt the funds would be administered with the ACTUAL intent (to help taxpayers in foreclosure)in which they were appropriated. Cuomo was rude, and constantly interrupted Frank, seeemingly because he wasn’t getting the answer that he wanted Frank to give. He actually wanted to blame the Democrats for the Republican economic blow-up.
The GOP hacks are now admitting that the bailout hasn’t worked, yet, not a there is not a word of disdain for Paulson’s administration of the bailout money, just fools trying to point fingers at the Democrats with them that voted to keep the entire U.S. financial system from flushing. Even John McCain interrupted his campaign to fly to Washington when the crisis loomed. Any word from the present White House? Oh yes, their “cat died”. The cat is the lucky one, he doesn’t have to suffer through this economy. He also doesn’t have to watch Chris Cuomo’s clumsy journalism skills.
Fire Paulson TODAY, and yank every dime from any financial instution that does not demonstrate a verifiable and successful Foreclosure/Loss Mitigation operation that is up and running 10 days after receipt of the bailout funds.
Posted by: houstontosandiego | January 6, 2009, 9:28 am 9:28 am
I don’t think I fully understand all of the Republican bashing on this issue. The Democrats are bailout happy too aren’t they?
Posted by: LongT | January 6, 2009, 9:35 am 9:35 am
To all those basing the GOP:
Atleast these guys are saying what we all were condemning from day one.
Where is the Democratic leadership’s opinion? Still waiting for it to be politically correct to condemn? Democratic Congressional “leaders” are afraid to tell the American people what we already know. These bailouts are a bust. They seem to be afraid of leading, or fear that they might offend their constituents.
Posted by: i just love him soooo much | January 6, 2009, 10:03 am 10:03 am
We’re going to listen to somebody who calls Bush a “fabulous” president????!!!!!
Posted by: Bob Brown | January 6, 2009, 10:06 am 10:06 am
We’re going to listen to somebody who calls Bush a “fabulous” president????!!!!!
Posted by: Bob Brown | January 6, 2009, 10:08 am 10:08 am
Isn’t this just like the GOP. ANY historian will tell you the same. After EVERY GOP presidential term the nation is handed, in rags, over to the left and then they (the GOP) do what they are best at, historical revisionism. They blame the mess on the left. I knew it was going to happen, but so soon?!
Posted by: RW | January 6, 2009, 10:10 am 10:10 am
Maybe there’s hope for a small govt. fiscally conservative party in the future BUT I notice that not one of the so-called “bigs” here holds or has ever held national office. It appears that membership in Congress or the national executive converts conservatives instantly to supply-side borrow and spend big governement religious bigots. Time for a new party. The Republicans are the 21st century’s Whigs. We need a party that wants government out of our pockets and social engineering based on Christian nation mythology. Will we get one? I doubt it.
Posted by: dem-dog | January 6, 2009, 10:26 am 10:26 am
This bailout of the Financial industry has failed us because the Secretary of Treasury and the Federal Reserve failed to watch over the funds that were given out to these financial wizards of Wall Street. No oversight,no rules, no guidelines and no regulation were applied by them or the President to ensure the funds they received were protected from fraud or theft by the wizards of Wall Street. Do you really think that you could have gotten any money from these financial establishments without a payment plan and a reason for borrowing this money from them. The rich keep getting rich and the middle class and the poor takes the beating. I agree that the CEOs should face criminal charges for fraud or embezzlement of funds and any other charges that are concern with corruption and conpiracy
Posted by: Thomas Wilson | January 6, 2009, 10:26 am 10:26 am
It’s the time for Republicans to stand up for the government fiscal responsibilities. All that bailout and big government wasting our tax payers money without much restrictions have to be stopped on behalf of American people. Demos and Obama administration will go down to the history as the biggest spender of our tax payer money with mounting the biggest national debt and deficits, in the name of stimulus plan, even worse than Bush. The worst of all is, when all this is over, each of us has to pay the price.
Posted by: cellisis | January 6, 2009, 10:30 am 10:30 am
The Bush’S Cabinet position of Secretary of Treasury and the Federal Reserve Board failed in not overseeing how these funds were spent. President Bush failed in making it clear that these funds should have been protected. He failed to establish the guidelines in how this money was to be handle or given out to these financial wizards of Wall Street. The Bush’s adminastration failed to explain how it would be regulated and watch over it and if they failed to do what they said they would do, then crimal charges of fraud and embezzlement would be filed againest these financial genius of Wall Street. Do you really think these people would loan you money or finance something for you without a plan to pay them back. This does seems like another plan to make the rich richer and we were suppose to turn over the SSI to them so they could provide the proper oversight in governing this funds. We did not give out credit cards and loans just to increase our bottom line and soak every penny from the public to increase our profit margins. Our 401k’s were not enough, they needed more and Bush helped out his buddies with extra cash flows to their accounts before he left office.
Posted by: Thomas Wilson | January 6, 2009, 10:53 am 10:53 am
And yet again, we are screwed.
Posted by: BikernAz | January 6, 2009, 10:56 am 10:56 am
We were screwed 8 years ago and what happen to give people a chance. I had family member that are republicans and are pissed off that BO was elected and not because of his policies. When they left my house that were N this N that all a while my Niece that is half white and half black was in the other room. She was crying when I went to check on her, because she over heard this. How do you tell a 12 year old how bigotry is not the norm, when it is coming out of the wood work now a days. I wanted to ask them, when we went to thier house last summer did the put lots of chlorine in thier pool or did they just drain it since my Niece swam in it. How sick are people to just look at color and then not practice tolerance in everything? It is very shameful, I never saw in the bible where it stated our brothers and sisters only could be white, did any of you. There are good and bad in every color and every walk of life.
Posted by: USCITIZEN_04 | January 6, 2009, 11:22 am 11:22 am
uscitizen–Why don’t you ask Harry Reid for a hug?
Trust me, your mullato niece gets it just as bad from her black “friends.” If not worse.
Posted by: worker man | January 6, 2009, 11:39 am 11:39 am
Republican hypocrites – Wasn’t your party leaser G.W. Bush who along with his other cronies came to the Congress crying – The American people said NO NO NO WAY, but our politicians who want everything for themselves voted YES YES YES WAY!
Posted by: Mike M | January 6, 2009, 11:51 am 11:51 am
Hey, shut up, sit down – Me and the Fed got what we wanted – crocodile tears and all — SUCKERS
Posted by: Benjamin B | January 6, 2009, 11:54 am 11:54 am
The sad thing is the repubs still do not realize that the reason we got in this mess is there core belief of deregulation and letting business run free. Once again a core republican value has been proven wrong, but they would rather blame what had to be done to fix it (it was not perfect but we had no choice), instead of looking in the mirror and admitting that reganomics do not work.
Posted by: Eric | January 6, 2009, 11:55 am 11:55 am
Will somebody please enlighten me and tell me why this is happening? OK, some didn’t like the package. It failed, FINE! Then get off your butts and find something that does. Rather than engaging in a useful discussion to solve the crisis, they want to pander and whine about something that didn’t work? What purpose does this serve? Condemnation does nothing but prove that you have nothing useful to propose but still want the attention.
Posted by: whocares? | January 6, 2009, 11:58 am 11:58 am
worker man You are sick in the mind and I hope god has pity on your soul. I work and do not take hand outs like wall street did, I pay my mortgage on time every time. You go cry on bushes shoulders or better yet Paulson shoulders since your lovely bush put him in change of doling out billion dollar handouts to his friends on Wall Street, bigot.
Posted by: USCITIZEN_04 | January 6, 2009, 12:00 pm 12:00 pm
What a bunch of hypocritical BS!
GOP you’re not fooling us this time. You let the elite put us into this mess and then you help bail them out, then you condem.
I don’t think the dems are any better but you better start owning up for the crap that you dish out that the average American has to eat!
Posted by: randy | January 6, 2009, 12:06 pm 12:06 pm
The sad thing is the repubs still do not realize that the reason we got in this mess is there core belief of deregulation and letting business run free. Once again a core republican value has been proven wrong, but they would rather blame what had to be done to fix it (it was not perfect but we had no choice), instead of looking in the mirror and admitting that reganomics do not work.
———————————-
Eric ,
Ever hear of Larry Summers ?
Posted by: Mike_C | January 6, 2009, 1:01 pm 1:01 pm
What a bunch of hypocritical BS!
GOP you’re not fooling us this time. You let the elite put us into this mess and then you help bail them out, then you condem.
I don’t think the dems are any better but you better start owning up for the crap that you dish out that the average American has to eat!
———————————
randy ,
You do actually understand WHO controls congress right now dont you ?
1st vote on the bailout:
Democrats voted 140 to 95 in favor of the legislation, while Republicans voted 133 to 65 against it
2nd vote :
Democrats voted 172 to 63 in favor of the legislation, while Republicans voted 108 to 91 against it.
NOW….who bailed out Wall Street ?????
Posted by: Mike_C | January 6, 2009, 1:13 pm 1:13 pm
uscitizen–Don’t worry about me.
PS: I didn’t mention handouts or your mortgage. You had a knee jerk reaction to try and prove yourself responsible.
Does your niece get to experience black raism? Or do is she kept sheltered away from them? Or is she a fatherless mulatto, and only knows one side of her parents family?
Posted by: worker man | January 6, 2009, 1:28 pm 1:28 pm
Here’s the solution, the people that benefitted from the bailout, make them pay back the money, but do not put the bill on tax payers. We were the people who were screaming not to pass the bailout. All the bailout did was grease the bank accounts of the executives, while we still suffer.
Posted by: Angelo | January 6, 2009, 2:14 pm 2:14 pm
If I recall, it was the Republicans who were outspoken opponents of the bailout in the first place. When House republicans failed the first bailout measure, many in the media called them un-American, foolish, troublemakers. I remember even Anderson Cooper on CNN shaking his head and saying “don’t they understand how important this is?” Then the Senate reworked the bill and somehow got enough Republicans to go along that the bill finally passed, but in the end, it did no good because bailouts do not work.
Those Republicans, and the Democrats who agreed with them, should have stuck to their guns and simply let the market readjust itself – which it would have done without any government meddling.
I, for one, am getting so tired of this “we must do this NOW!” mentality that has overtaken politics. It’s creating hysteria and is forcing lots of politicians to throw their ideals out the window.
Posted by: Me | January 6, 2009, 2:18 pm 2:18 pm
I am so heartened to see so many posts here asking where was this zealousness to protect the American people while Bush was in office? They allowed that moron to do whatever he wanted without restraint and no checks and balances whatsoever. But now Boehner and McConnel want to do that. Gee thanks. Too bad you didn’t do your jobs sooner. I have never heard of Boop either but he is also a imbecile if he thinks Bush was a fantastic President.
Posted by: bckrd1 | January 6, 2009, 3:54 pm 3:54 pm
Doesn’t take a freaking rocket scientist to figure out the bailout was a bust. These people are starting to sound like the U.N. Let’s pass a resolution that will do nothing…. Oh we condemn the bailout yada, yada, yada… How about just say next time we will have a backbone and won’t cave, we will do what is best for our country regardless of which side of the isle came up with the idea.
Posted by: NoSpin1600 | January 6, 2009, 4:52 pm 4:52 pm
Why not give the rest of the bailout money to the American taxpayer? You,the government bailout the financial and auto industries but the people are still suffering. AIG had a great time, parties galore, when they received our money.If the government gave each taxpaying family a part of the bailout, we will revive the economy. There would be spending in retail, electronics, etc. Doesn’t Capital Hill ever listen to the people. I thought this was a free country.
Posted by: Peg | January 6, 2009, 6:03 pm 6:03 pm
This says it all a Quote from BUSH …•
“Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we.” — Aug. 5, 2004, at the signing ceremony for a defense spending bill.
Posted by: USCITIZEN_04 | January 6, 2009, 6:34 pm 6:34 pm
Yes, the republicans are through for decades at best. Floundering lunatics and hypocrites deserve their long awaited fate. Grover Norquist got the drowning in the bathtub he hoped for, just did not expect it to be his party of greedy clowns that are gasping for air. Watching Edwin Meese lead his Heritage Foundation speaker Judge Bork, half senile in his rants and sterotypical generalities, shows me how daft and failed the repugnicans really are. RIP…case closed…NEXT!!!!!!
Posted by: daddyblue | January 6, 2009, 7:04 pm 7:04 pm
This government never had the people in mind. Politicians dont run for office because they want to serve. When has a politician ever served the people? They’re in it for the benefit and money they get from lobbyists. Wasn’t 80% of the people against the bailout? It happened anyway. We are going to have to keep our eyes open watching this congress carefully. Let’s make them do what WE ask. Remember…they work for us.
Posted by: Dan Kolich | January 6, 2009, 7:22 pm 7:22 pm
Why can’t we get countries to payback the gazillions that we have given them?
Why is it that we take care of people who hate us and not our OWN American CITIZENS – our own country?
These are things that the government did without our approval – we only get a choice of elected officials but never get to voice our opinion and they make dumba$$ decisions!
$15 BILLION dollars to bail out the banks – you could give each American CITIZEN a couple of million so that we could afford to make purchases to keep things afloat!
Rebuild devastated areas from floods, hurricanes and tornados. Money for NATURAL disasters, not man made ones.
No one is saving American CITIZENS and we are not being asked via a vote as to what we would like or not like to be done, so money is being given away like Monopoly money.
Posted by: Sue | January 6, 2009, 7:34 pm 7:34 pm
Why are we continually bailing greedy people? Why didn”t the GOP & the democrats listen to Donald Trump when he said the auto companies should do the big “B”. They are just going to come back for more billions.Donald run for president next time, I’ll vote for you!! You were at many times in a bad position but you didn”t opt to bail out. Geee maybe thats why you’ve became a billionaire.
Posted by: Devon M Bates | January 6, 2009, 8:16 pm 8:16 pm
MadeInUSA – There is NO way you can blame any of the current economic crisis on Democrats. NO way what so ever!!!
Posted by: dan | January 6, 2009, 9:45 pm 9:45 pm
It will be fun to see how the denial-ridden Democratic party will spin the future demise of our country on Republicans even though they are in complete control. Even though it would seem odd to a sane person to cry, “It isn’t our fault” while in charge, we will hear this over the next 4-16 years until Americans decide to again elect the party that makes tough choices instead of voting as the popular wind vote blows…
Posted by: jchilman | January 6, 2009, 11:04 pm 11:04 pm
What a bunch of hypocrites. The GOP backed Bush with all their might and evil aggressiveness for most of his two terms as President. Where was their ‘budget zeal’ during the time all that money was wasted on the Iraq War? Why are they only now, after the horse is gone and the barn door left open, only now ‘opposing’ the bailout. After all, it was their own love of fat cats that got our country into trouble in the first place and created the conditions that made the bailout necessary.It’s unfortunate that Republicans have become something akin to a neo-nazi hate party, espousing all kinds of extreme slander and lies and they can’t wait to obstruct Barack Obama from his
attempts to fix the mess that George W. Bush and the Republicans made. And one more thing needs to be said: Reverend Wright may have said, in context, “God damn America” while referring to America’s historical treatment of black people, but Republicans actually turned into REALITY the damning words of Reverend Wright. Ever since Republicans have ruled Congress, since 1994, the and Gingrich’s Contract to Destroy America, the phrase God damn America has taken on a frightful new meaning and has become painful reality, brought on by Republican leaders and their policies. Even the dumbed-down American public, in its majority, have repudiated the failures of the political right wing. Wright may have said it, but Republicans actually did it and went a long way toward really damning America
Posted by: JL | January 7, 2009, 9:40 am 9:40 am
Am I the only one who has noticed how these Republicans have suddenly gotten so smart about the economy? Where were they for the first six years of Bush’s Presidency when they had total control of Congress? Oh yeah, earmarks and pet projects back to their districts helped balloon the national deficit. Bush didn’t veto one bill during the first six years of his administration. That’s fiscal irresponsibility. Now that the Repukes have been booted out of power they are attempting to make it appear as if it is the Dems fault. Republicans are hypocrites.
Posted by: PhilBgood | January 7, 2009, 12:20 pm 12:20 pm
I can’t wait to hear you idiots cry when all doesn’t come up roses with Obama and the Dems in power – and it won’t. What a bunch of idiots posted here. Why is it that not one person mentioned that the Dems have ben in control in Congress for the last 2 yrs. If they had wnated strings on TRAP, they could have gotten them. They didn’t want any more strings, than they did on Fannie and Freddie (good ole Barny’s lover might have come out on the short end of the millions). Why hasn’t anyone brought up that it was Bush’s admin. that started in 2003 trying to get some regs on Fannie and Freddie, but the Dems fought tooth and nail to prevent it? Why hasn’t anyone of you idiots brought up that the Dems passed laws that required banks, Fannie, & Freddie to lend to people who couldn’t qualify for any loan, much less a home loan they couldn’t afford, would never be able to afford or even come close to paying? There’s a lot of Repub bashing here but absolutely nothing said about the respondisibilty the lays directly at the feet of the Dems for the current condition. Never mind, I understand, you idiots don’t have a clue what damage the Dems have caused – guess your new messiah also wiped your brains clear too. Good luck with your new ‘change’. The only thing that will change is much more spending, less protection of the homeland, and terrorist attacks right here at home. Most of you are idiots and have proven it by your own words here. Hypocrites. I guess you forgot that it was the Dems that started Social Security, then taxing Social Security, using the funds collected from workers for Social Security, Welfare, continued Welfare, and oh yeah, that the KKK was a major arm of the Democratic Party until the 50′s, then started hiding the connection but still funded it, supported slavery from the beginning of our country thru the Civil War and after.Yeah, ya’ll are real winners! You’re nothing but big jokes!
Posted by: Kadie | January 16, 2009, 3:07 pm 3:07 pm