But there was picking and choosing between winner and loser here. You picked Bear Stearns to save and you let Lehman Brothers go down the tubes.
Jim Bunning
The Public Record
Jim Bunning is a former United States Senator from Kentucky, serving from 1999 to 2011. A member of the Republican Party, Bunning was known for his strong conservative positions and advocacy for fiscal responsibility. Before his political career, he was a professional baseball player, notably a pitcher in Major League Baseball, where he was inducted into the Baseball Hall of Fame in 1987. Bunning's tenure in the Senate included a focus on issues such as energy policy and workers' compensation reform, often criticizing the Department of Energy's handling of compensation programs for workers.
One of the causes of the recession is the American people don't believe you or anybody sitting here is telling them the truth.
Do you believe the chaos that followed Lehman Brothers' bankruptcy was a result of the bankruptcy itself or the market realization that not everyone would be bailed out?
I can tell you, my phones in my office rang off the hook, 25,000 calls. I have not gotten 25,000 calls since I have been in the Senate.
the previous Treasury Secretary and the Fed Chairman pulled a bait-and-switch on us
The American people are screaming because they think that the TARP money was designed for one reason--to relieve the credit crunch--and it was being used completely to take care of friends and others on Wall Street.
Not only is the money being used in ways Congress did not intend, but we do not have the transparency that was promised.
I urge you, I urge you as strongly as I can as a member sitting on this Committee to not be bashful.
If that is the case, then why is your administration proposing that we dedicate less than 20 percent of the auctioned revenues from this assumed cap-and-trade program to emerging technologies in clean coal and renewables?
You were part of the problem. You were the head of the Federal Bank of New York.