Posted on 11/17/2008 4:45:14 AM PST by Virginia Ridgerunner
U.S. Sen. Jim Inhofe said Saturday that Congress was not told the truth about the bailout of the nation's financial system and should take back what is left of the $700 billion "blank check'' it gave the Bush administration.
"It is just outrageous that the American people don't know that Congress doesn't know how much money he (Treasury Secretary Henry Paulson) has given away to anyone,'' the Oklahoma Republican told the Tulsa World.
"It could be to his friends. It could be to anybody else. We don't know. There is no way of knowing.''
(snip)
Last week the Treasury secretary announced he was abandoning his plan to free up the nation's credit system by buying up toxic assets from troubled financial institutions. Instead, Paulson wants to take a more direct action on the consumer credit front.
"He was able to get this authority from Congress predicated on what he was going to do, and then he didn't do it,'' Inhofe said.
"So, that's enough reason right there.''
Inhofe recalled earlier comments opposing Paulson's plan because the administration's point man did not have answers for a number of questions. He also recalled questioning the rush to get the bailout passed.
"I have learned a long time ago. When they come up and say this has to be done and has to be done immediately, there is no other way of doing it, you have to sit back and take a deep breath and nine times out of 10 they are not telling the truth,'' he said.
"And this is one of those nine times.''
(Excerpt) Read more at tulsaworld.com ...
Sanity strikes DC. Inhofe for leader.
Considering that Senator Inhofe voted AGAINST it, it’s not buyer’s remorse on his part - he didn’t buy it. Even so, let’s hope the message, that Paulson deceived the Congress and he ought to be stopped, catches on.
Paulson is a liar and has done great harm to the Republic. He has known for more than a year that the sub-prime loan issue was going to blow up and threaten the national economy, and he did nothing . . . until less than two months from a critical national election.
Bush selected poorly, again.
If someone on FR said something like what Inhofe said, he’d be accused by others on FR of bashing Bush.
I say we’re past due for some Bush bashing from our conservative leaders.
torches and pitchforks are coming soon...
The American people were so furious at the original $700billion package they nearly burnt down the phone lines.
so Congress apparently thought what we wanted was MORE PORK so they turned it into an $800billion bill by filling it with $100billion (BILLION!!!!!) in EARMARKS.
torches and pitchforks...
If Oklahoma had better roads and no state income tax, I'd consider moving there. It seems to be one of the last bastions of sanity in what has become an insane country.....
I’m making calls to my Congresscritters this morning stating my opposition to the auto bailout. Unfortunately, I don’t hold out much hope. As you mentioned, the public, both Democrats and Republicans were overwhelmingly against it, and made their will known. Congress chose to turn a deaf ear, and now they’re surprised that the whole thing stunk to high heaven.
I hate to say it, and I’m no conspiracy theorist, but the whole thing seems so staged at this point. Crisis, crisis, hurry, hurry, the economy’s in the tank, crisis, Obama takes the lead from McCain, and the rest is history.
He could have listened to the constituents who were screaming and pleading for congress not to act so rashly. There is no accountability, the power is given to one, and it is not an elective position. It was funny last week when Barney Frank was upset that the money wasn’t been used as they had intended. Welcome the the world of the taxpayers who opposed this bailout.
Bingo. And the remorse sets the stage for nixing future bailouts.
He DID listen. He voted NO.
I don’t think Congress can admit a mistake.
Where’s Bush?? Paulson?
HE SHOULD FIRE HISASS RIGHT NOW!
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