Wednesday, June 30, 2010

Roy Blunt Continues to Vote for Big Bank Bailouts

Roy Blunt has taken a lot of heat from genuine conservatives (but not poseurs) for his hypocritical vote in favor of the Troubled Asset Relief Program (TARP), the multibillion dollar bailout of the big banks who crashed our economy. For someone who claims to be a true believer in the free market, it's pretty strange that Blunt was so willing for fork over billions in taxpayer dollars to prop up greedy banks.

Apparently, that criticism has had no effect on Blunt, because today he voted to continue TARP payments. The financial reform legislation was originally going to include $19 billion in taxes on the banks, but Republicans thought that this was just too unbelievably unfair to the poor, helpless bankers who run our financial system, so the legislation was instead changed to provide $11 billion by ending TARP early. The bill passed the House of Representatives today, but Blunt and all but three Republicans voted against reforming our defective financial system and against ending the TARP payouts.

Apparently, Roy Blunt is a firm believer in socialism for the rich and capitalism for the poor.

1 comment:

  1. Your last sentence summed everything perfectly.