CONLEY SAYS $700 BILLION TAXPAYER BAILOUT A FIASCO
COLUMBIA,SC - Democratic challenger Bob Conley, running for South Carolina’s U.S. Senate seat, is strongly opposed to the bailout of Wall Street at the expense of Main Street. “I said at the very start that the bailout would not restore confidence in Wall Street or the financial markets,” said Conley.
“Now we see the Dow Jones continuing its sharp decline to the lowest point in four years and banks still refusing to lend to each other. The result is that credit is still not becoming available to businesses and consumers, despite the anticipated $700 Billion from taxpayers,” Conley said.
“Picking the pockets of taxpayers to compensate for the disastrous policies of Congress, lax oversight of regulators, and the excesses of Wall Street is no way to restore the confidence of Main Street,” said Conley.
“The people will have to take matters into their own hands,” Conley said. “If they don’t, they will be fleeced of even more money, which could lead to bigger trouble ahead.”
“I call on all voters to take corrective action in November by using the power of the ballot box to remove from office incumbents like Lindsey Graham who voted in favor of the policies that set up South Carolina and the nation for this catastrophe,” Conley said.
“We can begin to restore confidence by getting rid of politicians who have been proven wrong time and again,” said Conley. “The future of South Carolina and the Republic are at risk by leaving these people in charge of finding solutions. Quite simply, they are not up to the task.”
Conley said that as the next United States Senator for South Carolina, he would work immediately for legislation to accomplish the following goals and restore confidence in the economy:
* Outlaw lobbying in Washington by banking and finance firms
* Stop market-distorting bailouts
* Put strict leverage limits on all financial institutions
Revise “mark to market” accounting rules
* Limit the size of financial firms so they can never be “too big to fail”
* Reinstate the separation of banking, insurance and brokerage
* Mandate transparency among banks to remove trust barriers
* Roll back government policies that encourage mortgages for those who cannot afford them
* Prohibit congressional earmarks, wasteful spending, and no-bid contracts
* Correct massive trade imbalances
http://aimhighwithbob.com/
2 comments:
We are suffering the nightmare Lindsey Graham has imposed on this country right now.
Between 5 million illegal aliens using fraudulent IDs to get mortgages and their huge default rate and Lindsey Graham's vote in 1999 to repeal regulations that expanded the Community Reinvestment Act, I'd say that Graham doesn't have anyway to defend himself except to again admit that he's "part of the problem."
Of course, he wants to be "part of the solution" as well. Yeah, right!
We can end Grahamnesty for the entire country from our little state of South Carolina. We will shake D.C. to its foundations if we kick out its biggest traitor!
its a conspiracy
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