Tuesday, October 11, 2011

Romney Defends Bank Bailouts

Political elite establishment favorite Governor Mitt Romney defended bank bailout in tonight's Republican Presidential Economic debate. 

As reported in real time by BrevardTimes.com, Governor Romey dodged the question on whether he would rule out another bank bailout. 

And why wouldn't Romney rule out giving more taxpayer dollars to the banks that ruined the global economy? 
After all, as reported by BrevardTimes.com, Romney just received the favor of lawyer-turned-Senator-turned-Banker Mel Martinez who voted for TARP and then landed a lucrative job with TBTF Chase.

Posted below are the BrevardTimes.com's Republican Presidential Economic Debate Highlights wherein Romney dodged the question as to future bailouts:

Cain:  Throw out the current tax code, go with my 9-9-9 plan.

Moderator: U.S. Banks have $700 billion exposure to Europe.  How do we avoid a financial meltdown?

Romney:  That's a hypothetical question.   

Moderator: Would you be open to another bank bailout?

Romney: No one likes a bank bailout.  Preserving our currency and financial system is essential [Romney avoids ruling out another bailout].

Moderator: Any institution TBTF?

Romney: You don't want to bail out anybody [Romney avoids completely ruling out another bailout].

Cain:  Implementation of TARP was wrong.

Gingrich: There is a possibility that a meltdown could occur next year.  We are not any better prepared today for a financial crisis as we were then.

Paul: We've been living in a Keynesian economy for decades.  Austrian economists predicted these bubbles.  The middle class lost their jobs, lost their houses.  

A free market with sound money and without the Federal Reserve is the only way you put a stop to these bubbles.

Republican Presidential Economic Debate Highlights Part I

Republican Presidential Economic Debate Highlights Part II

Republican Presidential Economic Debate Highlight Part III

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