Newt was appalled and disgusted at the amount of dictatorial power that Secretary of the Treasury Henry Paulson tried to grab for himself at the outset of the financial crisis. However, he reluctantly supported a scaled-down plan after Paulson told the country that the world financial system was going to collapse without this emergency support.
Newt believes that the reckless, secretive and opaque way in which the Federal Reserve and the Treasury Department administered the bailouts has been an affront to democracy. The Fed was picking winners and losers, using several emergency lending facilities to make all types of loans to connected parties, including to a bank owned by the Libyan government.
and yet he praised john mccain leaving the trail in 2008 and going back to d.c to help push it all thru...i know he did it “reluctantly”...
Newt has been a longtime loyalist to the party. He even backed Bush, Sr. for reelection even after their big public disagreement on Bush, Sr.'s tax hikes. Newt believes in having a vigorous debate within the party but when it comes time to elections, he does not believe it's in our interest to undercut the party's chosen candidates. Which makes it all the more ironic how much the establishment has been trying to undercut him since his candidacy started.