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Lloyd Doggett grills Ben Bernake on bailout

Congressman Lloyd Doggett questions Ben Bernake about the $700 billion Wall Street bailout. -------------------- ------------ The President's Gilded Trillion-Dollar Bridge to Wall Street Rep. Lloyd Doggett September 25, 2008 In somber tones last night, President Bush described a crisis as if it had emerged on Wall Street from outer space. Never accepting any personal responsibility, this is the man, who chased the sheriff off Wall Street, while they had a party - a Grand Old Party. That infamous Republican earmark - the Bridge to Nowhere up in Alaska - it carried a hefty price tag: $223 million. Well, what President Bush is now asking Americans to do is pay for the equivalent of 4500 Alaskan bridges - a trillion dollar, gold-plated, diamond-encrusted "Bridge to Wall Street." Our job here in Congress is to ask "Is this just another bridge to nowhere?" And to ask why is it that the partygoers don't have to pay for the party? Why should American taxpayers and future generations of Americans have their future mortgaged to pay for a party they never participated in? ------------------------- ------- "Wall Street got drunk-Mr. President, you gave them the keys to liquor cabinet." Rep. Lloyd Doggett September 23, 2008 A few months ago, President Bush accurately diagnosed the problem he just dumped in the lap of Congress. "Wall Street got drunk, and now it's got a hangover," he said. But Mr. President, you gave them the keys to the liquor cabinet by failing to enforce our laws. And now you're really demanding that Americans, who didn't get invited to the party, must pay for everything destroyed in the drunken brawl. These late night negotiators have not asked the President, "Where do we find $700 billion?" It is time to demand that bailout supporters outline the revenue measures necessary to pay for it. And the place to begin is with those who enriched themselves when Republicans took the cops off the corporate beat. We need an alternative to just raising the credit card limit-an alternative to more irresponsible "borrow and spend" from a President who has already borrowed more from foreigners than all previous Presidents in American history put together and who continues to mortgage America's future.

Channel: News & Politics
Uploaded: November 30, 1999 at 12:00 am
Author: rexm

Length: 06:56
Rating: 5.00
Views: 525

Tags: 700  bailout  ben  bernake  billion  dogget  lloyd  street  trillion  wall  wallstreet  

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