September 25, 2008

More Conservative Opposition to Wall Street Bailout

Via the Washington Times:

Rarely have Republican lawmakers - and especially the best conservative brains among them - been so openly rebellious against their own leadership in Congress and so critical of a GOP administration as they have been during the current financial debacle.

Elected conservatives, answerable to their constituencies back home and looking at less than two months before the general election, are saying they no longer believe the Bush administration.

RSC Chairman Jeb Hensarling says:
It defies common-sense to pass a potential trillion dollar bailout bill without having a rational and deliberate conversation about other potential alternatives and remedies. I remain skeptical of the Paulson plan and am utterly unconvinced that this is the only alternative.
Rep. John Shadegg says:
They are saying the consequences will be dire and imminent if we don't take up this solution now...Paulson says we can talk about reform later but the bailout must be accepted now. That's not where conservatives are now....Expecting Congress to the fix the current financial crisis is like expecting an arsonist to put out the fire he started. Government created this problem.
Sen. Jim DeMint:
They said new authority to bailout Fannie Mae and Freddie Mac would solve the problem without being used, but they were wrong again. Now they want us to trust them to spend nearly a trillion dollars on more government bailouts. Its completely irresponsible and I cannot support it.
Sen. Richard Shelby:
Without question, our markets and financial institutions need serious attention. I do not believe, however, that we can solve this crisis by spending a massive amount of money on bad securities.
Where do you stand? If you have an opinion, this would be a good time to share it with your people in Washington: (202) 224-3121

By Ragnar Danneskjold, Typical Bitter Gun-Clinger at 07:20 PM | Comments |