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MANCHESTER, Iowa (AP) - Texas Gov. Rick Perry is calling the Wall Street bailout "the single biggest act of theft in American history.
Campaigning in Iowa on Monday, Perry sought to cast himself as an outsider who would cut Washington's influence. He painted Newt Gingrich and Mitt Romney, his rivals for the GOP presidential nomination, as status quo politicians who should worry Republicans voters.
Perry says the country needs a president who understands Main Street and is not beholden to Wall Street.
With just two weeks before Iowans begin assessing the GOP field, Perry says the values he learned in rural Texas have shaped his views. He says "no one was going to bail out a dry-land cotton farmer" and no one should have bailed out Wall Street during the 2008 financial crisis.
Pingback: Perry: Wall Street bailout biggest theft in US | JamesCatledge.net
December 19, 2011 @ 2:30 pm
In my judgement…NO ONE, regardless, should have been “Bailed Out”…the auto industry had bankruptcy courts availavble to them, including reorganization. They would not have dissolved…but they would have had to drastically reduce spending, bonuses, as well as some unsuccessful autos that were not selling…
They wou;ld have come back stronger, having the experience of the consequences resulting from poor management…
And if necessary, they should be allowed to fail….to bail them out simply rewards them…for poor management practices, and makes them realize they have control over our chicken-manure politicians…and down the line they will do the same thing…
Frankly, it weakens our republic, and our belief in capitalism as our foundation for obtaining and earning wealth in this country…
The key word here is “Earning” wealth…not having it handed to them on a silver platter as a reqward for failing…being “too large” to allow them to fail is BS!
Any time you give politicians the role as “financial managers” you are inviting trouble and failure…they do not understand capitalism, nor the concepts of what makes a company strong…they believe obviously that money grows on trees…
gutless, they are…
If I have a company that fails because I managed it poorly, I will fail…but if I managed to come back…I will be certain not to make the same mistakes, and try to understand my history so as not to repeat it…politicians don’t comprehend that…
Just look at our choices…Newt?…no financial experience….Michle?…the same…Mitt?…pretty sound experience in that category…Perry?…forget it…
I don’t know…somewheres out there is the right person…I just don’t see him or her right now…Trump?….God help the Chinese if he gets the nod…:>)
December 19, 2011 @ 7:04 pm
Good post, downdraft.
I might add that the main reason Obummer bailed the auto industry out was to keep his grossly overpaid union buddies employed and their bloated and I might add, looted pension funds afloat.
If the auto companies were left to their own devices, they would have immediately declaired bankruptsy and reorganized into more streamlined and efficient companies. This would have necessitated re negotiation of union contracts with realisitc wage rates and benefits.
Many of the criminal union bosses would have been out of a job. The unions gave millions to Obummer’s, Pelosi’s and Reid’s campaigns. They wouldn’t dare allow their beloved contributors to be defunded.
Now, thanks to our tax dollars, the unions are heavily funded again and will be able to make even more grandiose contributions to Obummers reelection campaign.
Ain’t it great.
December 19, 2011 @ 9:09 pm
Comment by TRUTHTELLER
You make a good point(s) I have not looked for…it makes sense that”bailout” was not the target but the means to satisfy the unions…you know, one could get completely exhausted looking for the true motive, the true culprits, especially if not with experience working in an arena that breeds crooks like rabbits….
I guess thats why many Americans just want a relief from having to deal with crooks ans chaliitans (sp)…
There are days that I just don’t want to evaluate and comment on a situation just because of mental exhaustion…but I try to remember that this is my country at stake…my childrfen’s and grand children’s future at stake, not to forget that many of our children and grandchildren and friends perished trying to defend our country from animals like we have in the White House…
I guess the best we can do is help protect us from within while our brave souls do so from the outside culprits…
THNX Truthteller
December 19, 2011 @ 2:35 pm
Apparently he has forgotten about the farm subsidies. Of course, rather than helping the family farmers they have instead attracted large corporate farms who drive all the little guys out of business. The ethanol subsidies are downright ridiculous. Al Gore admitted that ethanol was not a good product but that he kept supporting it because he didn’t want to lose votes in the corn growing states.
December 19, 2011 @ 5:17 pm
I agree ‘TX’…
Ethanol subsidies have been having a free ride for better than 2 decades…from a business point of view I firmly believe that if a product has to have a public funded ’subsidy’ attached to it for any length of time it simply means the product is not able to pay for itself…
Politicians don’t really give a hoot about that…just the votes they produce…and the subsidized don’t give a hoot either, just the freeby their politician gets for them.
December 19, 2011 @ 6:05 pm
Gov. Perry your coments are on the money. But talk is cheap, especially inflamatory statements like this. What are you and your fellow gutless Republicans going to do about it? A henious crime has been committed, and the criminals who committed the crime are known; but no one has been charged, convicted or punished. In fact, most of the guilty parties have moved on completely unscathed. Do something, don’t just rant about it!
December 19, 2011 @ 6:45 pm
You know moonshine…you bring up a good point…all the campaigners verbally expose and charge the crooks, but do nothing. It seems to me a legitimate Presidential selection would be a person who is in a position to file charges, or begin impeachment process, and does it…not just talk about it!
Does that mean that if they don’t win the election they woiuld just walk away from the issue and forget it? That the iissue was really not important enough to “act” upon, just to defame a component?
Moonshine, you seem to have cleverly found a simple formula to separate the BSers from the real patriots and leaders…the BS’ers just talk about it…the real patriots do something about it…then talk
THNX
December 20, 2011 @ 4:44 am
So downdraft, what you’re trying to say is: Shoot first – then ask your questions later!?!? ;>)
December 20, 2011 @ 12:50 pm
The excellent point downdraft is making is that there ia an incestuous relationship between the Unions and the DEMS. The DEMS fund the Unions (both Public and Private Sectors), and vice versa; and the kicker is that its all done with taxpayer dollars! Really sweet. Only the Private Sector taxpayers are getting screwed!
We need to elect representatives who are going to do more than just criticize this ongoing atrocity. These criminals need to be punished, not just reprimanded. They need some jail time in a real prison. Otherwise, they simply walk away with their pockets full of our tax dollars. The only path forward is to require candidates to support Accountability and Term Limits, and hold them to it. Career politicians are the root of all evil. Absolute power corrupts absolutely. Merry Christmas to all.
December 20, 2011 @ 9:57 am
I am opposed to bailing out anyone. But the truth is that the government made a big profit on the Wall St. bank bailout. The terms were very unfavorable to the banks, giving the government huge positions in the company stock, and the funds have been repaid with interest. The banks were told they had to take the money; they were not given a choice. The problem is that the same money was then taken without any congressional approval and used to steal the car companies from the stockholders and bondholders and give them to the unions in the case of GM and the Fiat in the case of Chrysler. How anyone can still call Chrysler a US car company is a joke. The government stole it from its rightful owners and gave it to Fiat.
December 20, 2011 @ 11:59 am
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