July 17, 2008
Once in a While a Politician Says Something Sensible

I'm sure if I were to research this, I'd find that Jim Bunning's voting record does not uphold the words he spoke during his question-and-answer session with Fed Chairman Ben Bernanke. I listened to this on Bloomberg, and found a short transcript at the Wall Street Journal.

[L]et me say a few words about the GSE bailout plan. When I picked up my newspaper yesterday, I thought I woke up in France. But no, it turns out socialism is alive and well in America. The Treasury Secretary is asking for a blank check to buy as much Fannie and Freddie debt or equity as he wants. The Fed's purchase of Bear Stearns' assets was amateur socialism compared to this.

And he even used the "s" word ... twice!

Posted by Karen De Coster