On the recordJanuary 27, 2010
In the last Congress, with the last administration, President Bush came to Congress during the financial meltdown, along with Secretary Paulson, and asked for hundreds of billions of dollars. They said they were going to use it to buy bad debt from the banks. It was threatening to bring down our financial system. Did they use it for that? No. Instead, they started to use it to nationalize American companies. They bought automobile companies; they bought banks. They used the government to take over the means of production. It now falls to us to break this socialist stranglehold on our country. The Wall Street Reform and Consumer Protection Act is one of the first steps. We ban future TARP bailouts. We require the companies pay into a fund. No longer will companies be bailed out by taxpayer dollars. I call upon the United States Senate to pass the Wall Street Reform and Consumer Protection Act and for us to take additional steps to privatize these companies that the Federal Government now owns.
