Political Quotes

“Mr. Speaker, the conventional wisdom flowing through the media to our Nation is that without the Wall Street bailout, America would have gone into economic depression and many banks would have failed. Well, the bailout passed. But think about it, then America fell into depression. Unemployment skyrocketed, and since January of last year, 141 banks have failed and been resolved through the Federal Deposit Insurance Corporation with more to come. Yet the biggest banks that did the damage were rescued rather than broken up and held accountable. These big banks gambled wildly, taking huge risks with our money and our mortgages, and now they are transferring their trillions of dollars of mistakes to our taxpayers for generations to come. What's wrong with this picture? The public's anger is rising, rightly. That can make a difference because that will affect elections. Yet the powerhouses of Wall Street who took TARP money within a year are earning the strongest profits in America compared to every other business, and they are handing themselves exorbitant bonuses, over $150 billion and counting. Clearly what Congress did was incorrect. {time} 1645 America has fallen into a deepening depression, more unemployment, with projections for a jobless recovery, with rising trade deficits, which weren't supposed to happen because of the value of the dollar. Why? Because the financial crisis was resolved in the wrong way.…”