Skip to comments.Paul Ryan explains his votes for TARP, bailouts and tax on AIG bonuses
Posted on 02/14/2010 4:37:15 PM PST by FTJM
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In honor of this, will someone please call me a newbie and tell me to go back to DU?
Any Republican who voted for any of the bailouts is a RINO!
A Freudian answer.
What a tool.
I can see where people may have gotten surprised by the TARP bailout and not completely understood what was going on.
I don’t see any excuse whatever for the Government Motors takeover. None. It was a pure union payoff, and it will end up destroying Detroit’s car companies.
Not so sure why people have recently been championing this guy. He sounds like Kerry trying to explain away a vote (well, I voted for it to prevent what I thought would happen and it happened anyway....HUH?!?!?)
Moreover, he basically admitted that he is playing to the crown by saying, “remember what district I’m in”. TARP, Porkulus and GM Bailout are all easy votes; I don’t care what the lawyers were saying the “commoner” had no problem determining that these were pork sandwiches
In other words, he wants to reinflate the bubble. In my mind, Paul Ryan's cautious answers to the questions have not alleviated the concerns Matt articulated. The representative wants it both ways, and for that reason, he cannot be a credible advocate of the free market. If Ryan does not see the virtue in voting in favor of the free market when given the opportunity, at the very least, the sincerity of his convictions must be questioned.
“Any Republican who voted for any of the bailouts is a RINO!”
Yes, by definition!
I still have not seen a credible argument for blocking the price discovery process. The TARP vote was a coward vote.
I agree with you on TARP, that was a most dire time for the markets.
The rest was a terribly misguided group of votes. No excuse at all.
in other words: the govt screwed up so we have to fix it with tarp and since tarp screwed things up, we need to fix it again with the auto bailout and since that screwed things up, we need another govt program to fix all of those problems and...
“Youve got to remember Obama won my district. Dukakis and Gore won my district. Clinton won my district. So I dont come from, you know, a red area. So I think its important to keep in mind where I come from. I dont hear that here.”
yeah I’m sure all those liberals were jumping and down for TARP and the auto bailouts. /sarc
I was against it. But you have your own Republican-appointed Treasury Secretary saying that if you don’t do it, the world will come to an end. It was not evident to everyone at the time that Paulson was a crook. I thought it was a mistake, but a lot of smart people said it was the only possible thing to do.
So, sure, the vote was misguided. But I’d be more incline to forgive it if he hadn’t voted for Obama’s Government Motors takeover.
NO QUARTER for anyone who voted for TARP, signed off on TARP, or had anything at all to do with TARP.
New and Improved CONSERVATIVE RINO!
For all those of you who are so indignant about TARP, just ask yourself one question:
If we hadn’t passed TARP and foreigners had decided to liquidate all their time deposits from our institutions, how much more would it have cost the FDIC to pay off all of the bank deposits that were insured when ALL of the major financial institutions were shut?
All of you forget that the FIRST THING that happened before TARP was that most of the major money center banks raised capital from the foreign sovereign wealth funds, about $20 billion worth. ALL of that capital was lost in less than a month.
It was clearly stated to the US government by these investors who had just been RIPPED OFF by US institutions that if the government didn’t get involved they would withdraw their money from the US banking system.
THAT would have been TRILLIONS in withdrawals. All of you big talkers have any idea who would have replaced that money?
When a bank loses it deposits it either has to call in its loans OR SHUT DOWN IMMEDIATELY.
TARP was clearly the lesser of two evils. The problem with TARP is that it should have been given to the smaller, healthier banks to buy the assets of the schmucks that lost it, not to the large money center banks.
That way, moral hazard would mean something, the loss of power and lifestyle of the NY-centric banking world.
I've seen him speaking on other occasions, and he seems like a strong fiscal conservative, he just got spooked by what was going on at the time.
See what I mean by lemmings and stupidity here ? A member of our party doesn't know what "red" means when he just described his district voted for RED moonbats ?
And this is why I don’t trust Paul Ryan despite so many here on FR Touting him as the Future of the Republican Party in Congress!! He is a useful idiot at best, and fool at worst (at least he doesn’t understand the Constitution).
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