Mitch McConnell voted for the bank bailout

The Senate Minority Leader has been talking tough lately about how the best way to reform the financial sector is with just three words:  No. More. Bailouts.

Two main drawbacks to this Three Word Game:

(1) The collateral damage to the rest of the economy, notably the credit markets,  is likely to be huge if financial behemoths fail;

(2) Politicians and policy makers know that and will tend to choose a bailout over colossal damage to the economy, no matter what they say.

One such politician is the senior Republican senator from Kentucky, who voted for the financial bailout of 2008, along with 74 other senators.  (The party breakdown was 39-9 in favor among Democrats, 34-15 among Republicans.)

Senator McConnell, I call bullshit.

Advertisements

Tags: , ,

2 Responses to “Mitch McConnell voted for the bank bailout”

  1. Goswald Hughes Says:

    Very interesting new strategy. To killl the bill by pretending to be more fierce than the legislation. I just don’t see how this is not more obvious to people. I suppose their vision is clouded by their hate.

  2. Jim Pangborn Says:

    Good call.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: