Rick Perry's Lie O the Minute-That He Did NOT Support TARP-YES, He DID! Somervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas

Salon is now an archive. New site here
This site's archives

Rick Perry's Lie O the Minute-That He Did NOT Support TARP-YES, He DID!

17 September 2011 at 9:01:08 AM

It's like Rick Perry is a serial liar that says "Who are you gonna believe? Me? Or Your Lying Eyes?  Sheesh.

Here's from yesterday where Perry was up in Newton Iowa and asked about a letter he had signed asking for TARP money.

Here's an interview from KSEV 700 AM

Here is a link to Rick Perry and the Republican Governors Association letter asking Congress to pass TARP- go read it for yourself

and Here's his letter to Nancy Pelosi asking her to get it passed.

Here's Steve Deace with better audio

After an appearance in Newton, Iowa today, Rick Perry denied to an unidentified woman that he'd ever supported the 2008 bank bailout known as TARP.

"No Ma'am," he told her. 

"I thought I saw a letter where you had written encouraging the support of TARP legislation," she persisted.

"You saw wrong,"

Maxwell asked this question of Perry because contrary to his own assertion he never supported the big-government boondoggle, there is ample evidence to the contrary which says in fact he actually did.

As a side note, it's interesting that Rick Perry is not doing press conferences or interviews in Iowa. Doesn't want to get asked questions.

Rick Perry is denying this, essentially telling people who SEE THE LETTERS that they are dumb. Or maybe because he supported the "economic recovery package", and didn't CALL it TARP, he thinks that will let him weasel out.

But let's examine. The date of the letter, which presumably was faxed, is October 1 2008. That's when Congress, under George Bush, was debating the Emergency Economic Stabilization Act of 2008.

The Emergency Economic Stabilization Act of 2008 (Division A of Pub.L. 110-343, 122 Stat. 3765, enacted October 3, 2008, commonly referred to as a bailout of the U.S. financial system, is a law enacted in response to the subprime mortgage crisis authorizing the United States Secretary of the Treasury to spend up to US$700 billion to purchase distressed assets, especially mortgage-backed securities, and make capital injections into banks (however, the plan to purchase distressed assets has been abandoned).[1][2] Both foreign and domestic banks are included in the program. The Federal Reserve also extended help to American Express, whose bank-holding application it recently approved.[3] The Act was proposed by Treasury Secretary Henry Paulson during the global financial crisis of 2008.

The original proposal was submitted to the United States House of Representatives, with the purpose of purchasing bad assets, reducing uncertainty regarding the worth of the remaining assets, and restoring confidence in the credit markets. The bill was then expanded and put forth as an amendment to H.R. 3997.[4] The amendment was rejected via a vote of the House of Representatives on September 29, 2008, voting 205–228.[5]

On October 1, 2008, the Senate debated and voted on an amendment to H.R. 1424, which substituted a newly revised version of the Emergency Economic Stabilization Act of 2008 for the language of H.R. 1424.[6][7] The Senate accepted the amendment and passed the entire amended bill, voting 74–25.[8] Additional unrelated provisions added an estimated $150 billion to the cost of the package and increased the length of the bill to 451 pages.[9][10] (See Public Law 110-343 for details on the added provisions.) The amended version of H.R. 1424 was sent to the House for consideration, and on October 3, the House voted 263-171 to enact the bill into law.[6][11][12] President George W. Bush signed the bill into law within hours of its congressional enactment, creating the $700 billion Troubled Asset Relief Program (TARP) to purchase failing bank assets.[13]

Supporters of the plan argued that the market intervention called for by the plan was vital to prevent further erosion of confidence in the U.S. credit markets and that failure to act could lead to an economic depression. Opponents objected to the plan's cost and rapidity, pointing to polls that showed little support among the public for "bailing out" Wall Street investment banks,[14] claimed that better alternatives were not considered,[15] and that the Senate forced passage of the unpopular version through the opposing house by "sweetening" the bailout package.[16]

And that would be Rick Perry, the Republican Governors Association and then President George Bush.

From October 3 2008 Money

After two weeks of contentious and often emotional debate, the federal government's far-reaching and historic plan to bail out the nation's financial system was signed into law by President Bush on Friday afternoon.

After 2 weeks of debate........This legislation didn't happen in a cave

"By coming together on this legislation, we have acted boldly to prevent the crisis on Wall Street from becoming a crisis in communities across our country," Bush said less than an hour after the House voted 263 to 171 to pass the bill.

The House vote followed a strong lobbying push by the White House and other supporters of the bill. The House rejected a similar measure on Monday - a defeat that shocked the markets and congressional leaders on both sides of the aisle.

Anybody really think that President Bush wasn't pushing for the Republican Governors and his OWN STATE'S Rick Perry to push for his program?

The law, which allows the Treasury Secretary to purchase as much as $700 billion in troubled assets in a bid to kick-start lending, ushers in one of the most far-reaching interventions in the economy since the Great Depression.

We've pointed out here before that Rick Perry is a huge liar and hypocrite. Gee! Is it because he's running for president?

Keep in mind that Perry has his own special slush fund in Texas way of picking winners and losers, including putting money into companies like Countrywide that then go bellyup.  It's called Texas Enterprise Fund.

UPDATE 9/1/2014: An interesting section in the case that exposes (again) Texas education funding system as being unconstitutional. Texas used stimulus money to bolster education and when that went away, the Texas lege didn't replace. 

Permalink Tags:          
     Views: 1954 
Latest Blog Post by salon -Video- Somervell County Commissioners Court Special Sessions (2) Dec 23 2019
More Posts You Might Enjoy
Laugh O Day- Remember When Rick Perry Couldn't Remember the 3rd federal agency he would abolish??
Rick Perry really is a terrible dancer-but i'll give him points for trying
I actually agree with Rick Perry about the State and Power-Whodathunk?
Desperate Much? Rick *Ooops* Perry Puts Out Word He'd Consider Being Trump's VP
Somervell County Salon Blog is now an archive site. Commenting not enabled.

Click Here for Main Page

Today Is  
Sunday, November 27, 2022

Latest Posts

More Blog Headlines