By JUSTIN ROOD
It turns out, Republicans oppose massive bailouts for private companies.
Who knew?
Just weeks before the Bush administration proposed its massive, $700 billion bailout for U.S. banks, the Republican Party adopted as a plank to its platform a statement declaring just that.
"We do not support government bailouts of private institutions," states the platform, approved Sept. 1. "Government interference in the markets exacerbates problems in the marketplace and causes the free market to take longer to correct itself."
Three nights later, the party nominated Sen. John McCain its presidential candidate. To date, McCain has not publicly opposed the idea of bailing out American financial institutions, although he has said he has concerns about the lack of oversight built into the White House bailout proposal. "We will not solve a problem caused by poor oversight with a plan that has no oversight," he has been quoted as saying.
Just weeks before the Bush administration proposed its massive, $700 billion bailout for U.S. banks, the Republican Party adopted as a plank to its platform a statement declaring just that.
"We do not support government bailouts of private institutions," states the platform, approved Sept. 1. "Government interference in the markets exacerbates problems in the marketplace and causes the free market to take longer to correct itself."
Three nights later, the party nominated Sen. John McCain its presidential candidate. To date, McCain has not publicly opposed the idea of bailing out American financial institutions, although he has said he has concerns about the lack of oversight built into the White House bailout proposal. "We will not solve a problem caused by poor oversight with a plan that has no oversight," he has been quoted as saying.
How will the McCain campaign deal with this issue?
How will the Obama campaign deal with this issue?
2 comments:
I think that if they accept this that something bad might happen. They might just think of it as taking a risk. But its not just the money, other things fall behind that.
I think that both campaigns need to deal with this issue by proposing a stroner economy that will be more efficient. They need to respond to this issue by presenting their own personal views on it and assuring the public that the economy they propose will not result in another huge bailout like this. They need suggest methods that will prevent this from ever occuring again. Both campaigns also need to make clear to the public if they are opposed to this masive bailout or not.
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