On the recordJanuary 26, 2010
I thank the gentleman from Virginia. Following on the gentleman from Vermont, as well as the gentleman from Ohio, taking us back to where we were before I was in this body, my colleague from Vermont was here, when President Bush, Secretary Paulson said we need a blank check for a whole lot of money, $700 billion. Well, what are you going to do with it? Well, we are going to buy toxic assets. We are going to take some of the bad debt off the books of banks and we are going to then relieve them of that, and that will improve their balance sheets, and they will be able to loan again. Well, okay. At that point the Congress said, well, not one dollar of that TARP money has gone to buying bad debt. Instead, the Bush administration started nationalizing companies left and right. They bought up banks. They are now owned by the government. They bought up automobile companies now owned by the government. They bought insurance companies. They went on a shopping spree and nationalized the means of production in this country. Now we are at a place where you have Big Government in league with Big Business, the worst of both worlds for the people of this country. This is made worse by a recent Supreme Court decision that opened the channels for unregulated use of corporate funds to influence political elections. That is right.…





