Period.
Cruz has ‘Em talking...
Hey, John,. ever heard of the Federal Deposit Insurance Corporation?
I own some Bank of America stock, and I completely agree with Ted Cruz on this.
“Ted Cruz will eliminate the Department of Commerce more than any other GOP candidate,” tweeted DNC spokeswoman Holly Shulman. “Not just once but twice!!”
Sen. Cruz joked about that himself in his post-debate appearance with Megyn Kelly.
“Megyn, I think the Department of Commerce is such a hotbed of corruption that we should eliminate it twice.”
Good that means Cruz is against the TARP
While Fox Business is for the TARP
Like a freight train chugging up a hill.
It was not a flub or mistake.
Cruz did not respond to the assertion that "Oh my God, you will let all the poor shlubs get wiped out? How horrible!"
The reason he did not respond is the assertion is stupid!
We have the federal Reserve, as he mentioned, to loan the bank money, but failing that, we also have the FDIC that insures all accounts up to $250.000. So the poor shlubs, like myself, would not loose any money.Those with accounts over and above the 250K limit are taking a risk that any decent banker or advisor or accountant would advise you not to do.
So it was not a error on his part, it was a stupid statement by another and he did not respond to it.
Taxpayers should not be in the business of helping those who do stupid things. He would not have bailed out GM either. Or Chrysler, who was bailed out twice to mollify unions.
Eliminate the IRS? That’s just populist pap. We all hate taxes, but if there’s no IRS who’s going to collect whatever type of tax we have? Just voluntarily mail it in? Where? When? Who do you make the check out to?
If we replace income tax with a sales tax who’s going to collect it from the retail businesses? Businesses never cheat on their taxes right? Under any tax system with no oversight or no enforcement this country would be broke in six months.
Should the IRS and their powers be scaled back? Absolutely. But you can’t eliminate a tax collector altogether.
The Constitution doesn’t grant power to prevent bankruptcy but even if the Power to write uniform rules concerning bankruptcies were construed to allow the federal to prevent them ... what exact came of the word “uniform”?
“Too big to fail” implicitly speaks of a lack of uniformity in the rules. One rule for this one and another for that one rather than the same rule for both.
Either bail out every failing Mom’n’Pop or let even the largest fall where they fall.
2008 was a systemic problem.
Allowing large banks to fail in such an environment can lead to much bigger problems.
Some around here seem to want another Great Depression but I don’t think it’s the way to go. It didn’t work out for Hoover or the rest of the GOP. We ended up with a bunch of socialist programs from the Democrats.
The source is the “Texas Tribune”, which is another of the liberal sites/rags in deep blue Austin TX. Trash.
Cruz is 100% right! The Establishment hates this because then they lose control.
The bank accounts are FDIC insured. So people would not lose their money. They would just move their money to another bank, and the middle size banks would pick up what is left of the big bank. That is how Capitalism works.
Anyone for bailing out the banks ... Liked the TARP and like Cronyism because that is what it was.
The worst thing you can do is keep a business in business when they have failed.
There is an easier way to reduce the risk of a big bank fail. First reinstate Glass-Stegall separating commercial banks from investment banks. Secondly the mega banks need to be broken up into regional units
Cruz is frankly smarter and better spoken than anyone else on that stage, and I don’t say that to belittle the others. They are all 20 IQ points or more above Obama and Hillary. Biden and Sanders can’t even tie their shoes unassisted.
That slobbering worshipers of the befuddled Kenyan would pounce on Cruz for a momentary blank, says far more about them than it does him.
He shoulda commented on the 57 states.
He’d be a shoo-in. /s