Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: FTJM; stephenjohnbanker; mkjessup

Any Republican who voted for any of the bailouts is a RINO!


2 posted on 02/14/2010 4:41:47 PM PST by rabscuttle385 (Purge the RINOs! * http://restoretheconstitution.ning.com/)
[ Post Reply | Private Reply | To 1 | View Replies ]


To: rabscuttle385
You’ve got to remember Obama won my district. Dukakis and Gore won my district. Clinton won my district. So I don’t come from, you know, a red area. So I think it’s important to keep in mind where I come from. I don’t hear that here.

A Freudian answer.

3 posted on 02/14/2010 4:47:25 PM PST by FTJM
[ Post Reply | Private Reply | To 2 | View Replies ]

To: rabscuttle385

“Any Republican who voted for any of the bailouts is a RINO!”

Yes, by definition!


8 posted on 02/14/2010 5:13:22 PM PST by stephenjohnbanker (Support our troops, and vote out the RINOS)
[ Post Reply | Private Reply | To 2 | View Replies ]

To: rabscuttle385

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.


16 posted on 02/14/2010 7:02:45 PM PST by LRoggy (Peter's Son's Business)
[ Post Reply | Private Reply | To 2 | View Replies ]

To: rabscuttle385
The man certainly doesn't sound like a RINO to me. He gives a good explanation in the article about what he was thinking at the time.

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.

18 posted on 02/14/2010 8:15:28 PM PST by SuziQ
[ Post Reply | Private Reply | To 2 | View Replies ]

To: rabscuttle385

Still think Paul Ryan is a RINO?


27 posted on 02/26/2010 5:41:03 AM PST by Trust but Verify
[ Post Reply | Private Reply | To 2 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson