Wednesday, September 24, 2008

Huckabee's Harsh Words on the Bailout

Gov. Mike Hucakbee posted some harsh words today on his HuckPAC blog regarded the bailout. I have not yet made up my mind on it. I don't like it on its face but I have not yet decided if it is a necessary evil or not. For a long term perspective, I believe we need to find a way for the stock market to represent the true value of the companies that are being traded. How we get there in the short term I am not completely sure. Anyway, here is some of what Gov. Huckabee had to say...

"Frankly, I’m disappointed and disgusted with my own Republican party as I watch them attempt to strong-arm a bailout of some of America’s biggest corporations by asking the taxpayers to suck up the staggering results of the hubris, greed, and arrogance of those who sought to make a quick buck by throwing the dice. They lost, but want the rest of us to cover their bets so they won’t be effected in their lavish lifestyles as they figure out how to spend their tens of millions and in some cases, hundreds of millions in bonuses and compensation which was their reward for not only sinking their companies, but basically doing the same to the entire American economy.

It’s especially disconcerting to see the very people who pilloried me during the Presidential campaign for being a “populist” and not “understanding Wall Street” to now line up like thirsty dogs at the Washington, D. C. water dish, otherwise known as Congress, and plead for help. I thought these guys were the smartest people in America! I thought that taxpayers like you and I were similar to the people at the U. N. who have no translator speaking into their headset - that we just needed to trust those that I called the power bunch in the “Wall Street to Washington axis of power.”

The idea of a government bailout in which we’d entrust $700 billion to one man without Congressional oversight or accountability is absurd. My party or not, that is insanity and I believe unconstitutional...more"

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