N.M. Delegation Split on Bailout: Senators, Wilson support move; Pearce, Udall express concerns

http://www.tmcnet.com ^ | [September 20, 2008] | Albuquerque Journal

[Maelstorm]

(Albuquerque Journal (NM) Via Acquire Media NewsEdge) Sep. 20--WASHINGTON -- New Mexico's U.S. senators, as well as Rep. Heather Wilson, said Friday that the federal government has little choice but to use its financial muscle to help stabilize a trembling Wall Street.

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But Rep. Steve Pearce said in a Journal interview that he is "deeply suspicious" of a Bush administration plan expected in Congress early next week that would use tax dollars to buy hundreds of billions worth of bad mortgages.

"It's deeply concerning," said Pearce, a Republican candidate for U.S. Senate. "When we say that institutions are too large to fail, what kind of economic principle is that? To lay this burden at the doorstep of the taxpayers is not going to get us out of this at all."

[Maelstorm]

I think Pearce is absolutely right on this. The polls also show that the people are skeptical of this huge bailout. I might recommend that this is the time for the GOP to stand apart and oppose this horrible idea. It just really stinks. I think cracks are quickly appearing in this bailout. It is time for the stupid horrible socialist idea to be shot in the head. This is bad legislation based on the false idea that it will fix anything it will fix one thing. It will send this country off the cliff of socialism. Is this what conservatism do? Get scared and run for the hills? This is the time to go head and stand for something more than more of the failed fiscal liberalism.

[aimhigh]

A year from now, we’ll be reading about bailed out companies granting themselves huge bonuses.

[Theodore R.]

Pearce is a good candidate, but he is running in NM!

[FlingWingFlyer]

This bailout reminds me of the bailout the taxpayers had to pay for after the Katrina fiasco in the Socialist utopia of New Orleans. It’s funny when you look at the differences between the response to New Orleans and the response to Houston and Galveston.

[Maelstorm]

This just amazes me. The American people do not support this stupid bailout. McCain was right in his first instinct on this. It has been the only time he has disappointed me lately.
This is another opportunity to differentiate the left from the right and General George Bush Mcfkup is leading us into liberalism as if he is strapped to a rocket. I’m tired of his bumbling. This a stupid idea and the GOP should oppose this.

[Domandred]

This a stupid idea and the GOP should oppose this.

EVERYONE should oppose this just on the section 8 clause alone, no matter what the rest of the bill says.