April 20, 2010
- A d v e r t i s e m e n t
Talk about taking another giant leap in the wrong direction.
Fresh off his successful (for now) effort to ram through an unpopular healthcare “reform” law, President Barack Obama is now fighting for legislation on Capitol Hill that would set up a permanent fund to bail out companies in the financial sector.
Of course, that’s not how his team is spinning things. On the White House Blog, Jen Psaki claims that “under the Senate bill, the taxpayers will never be asked to foot the bill for Wall Street’s irresponsibility.” But that’s simply not true.
“If you liked the bailouts in 2008, you’ll love the Dodd bill,” Sen. David Vitter (R.-La.) tells HUMAN EVENTS. “Congressional Democrats and the Obama Administration want to create a permanent bailout mechanism all while spouting their rhetoric of getting tough on Wall Street, but if you look at who is already lining up to support their ‘reform’ measure it’s a who’s who of the big banks that have already received the taxpayer bailout the first time.”