Louie Gohmert: “Well, if we go back to the day that the Wall Street bailout passed, that first week in October of 2008, I made the…”

“Well, if we go back to the day that the Wall Street bailout passed, that first week in October of 2008, I made the statement that when the Federal Government buys private assets and holds them in order to try to make money, or the Federal Government decides it's going to start trying to make money for the taxpayer, it's called socialism. And I was belittled by colleagues that serve here in this body for saying that it was socialist. One person even said, well, I only know three Socialists in America, and they're all against the Wall Street bailout. Well, I was pretty depressed and devastated when the Wall Street bailout passed. The next morning, Saturday morning, I was watching Neil Cavuto, and he had the Presidential nominee of the Socialist Party, and the Socialist candidate for President being interviewed by Neil Cavuto was asked, basically, what's the deal? I thought you guys were against the TARP bailout, the Wall Street bailout? And now this morning you're saying it was a good thing. And in essence, the Presidential nominee of the Socialist Party said, well, yes, they were against the TARP, Wall Street bailout. In essence, they didn't feel like the government should pay anything to take over the assets they were taking over. But once it passed and was signed into law, they realized this is probably the greatest day for socialists in American history because the Federal Government has begun the takeover, in a substantial way, of private assets.”