I Need A Paul Ryan Talking Point...
Tommy De Seno ·
August 12, 2012 at 8:58pm
Paul Ryan voted for TARP – President Bush’s “abandonment of free market principles so he could save the free market system:”
If Rick Santelli’s rant was the birth of the Tea Party, TARP was its gestation period.
Some are already holding up Ryan’s TARP vote as hypocritical to his small government, anti-spending speeches.
When they ask me to explain Ryan’s TARP vote – what should I tell them?
- Comment (11)
- · Quote
- · UnfollowFollow (2)
Comments:
Nov '10
Re: I Need A Paul Ryan Talking Point...
The government had set up a system where the banking system was so enormously interconnected and dependent on liquidity that the entire system would have crashed and many otherwise healthy businesses that are normally debt financed would have failed. Supporting a more free market system is not necessarily incompatible with realizing that we don't currently have that system and, consequently voting for the least of a series of bad options to ensure the crisis spreads as little as possible and does the least damage. Reform the system gradually. Don't exacerbate a crisis. Just my $0.02.
May '10
Re: I Need A Paul Ryan Talking Point...
He chose poorly. Sometimes people have to take decisions quickly, without all the information they need to get the best answer. Lots of smart people said we needed TARP. They were wrong. Paul Ryan was one of them.
We will never have politicians who vote the right way or do the rights things all the time. Paul Ryan, however, has done right far more often that he's done wrong, unlike the men he and Mitt Romney want to replace.
Sep '10
Re: I Need A Paul Ryan Talking Point...
Read Ryan's own explanation (h/t EJHill).
Alternatively, try this.
May '10
Re: I Need A Paul Ryan Talking Point...
I would add to the above "internationally interconnected." Trillions of worthless bundled securities were held internationally and TARP, which because of the way it was structured ultimately cost the taxpayers almost nothing, assured the world finance market that the US Government was standing behind the investment securities community. The major cost of TARP was added by Obama after the fact which was the $50 billion Obama gave GM to come out of bankruptcy. TARP was necessary at the time, and was not flawed except for the almost worthless GM stock now owned by the taxpayers.
It is important to understand the initial TARP program, which Ryan voted for, and the changes to it made by executive fiat under Obama. The majority of the $118 outstanding in TARP is from Obama's helping GM and the UAW.
Jul '12
Re: I Need A Paul Ryan Talking Point...
Good and decent men and women may sometimes vote based on urgency and the information that is available to them. The only hypocrisy is if they do not admit to mistakes. The American people are forgiving of sincere people who admit errors.
Jul '12
Re: I Need A Paul Ryan Talking Point...
Good and decent men and women may sometimes vote based on urgency and the information that is available to them. The only hypocrisy is if they do not admit to mistakes. The American people are forgiving of sincere people who admit errors.
Aug '12
Re: I Need A Paul Ryan Talking Point...
"Fella I once knew in El Paso, one day he took all his clothes off and jumped in a mess of cactus. I asked him the same question, why? He said it seemed to be a good idea at the time."
I should think that covers the initial explanation.
(It's also one of the best lines from Magnificent Seven)
Jan '11
Re: I Need A Paul Ryan Talking Point...
You don't need to explain it! Ask them (whomever is going to hound you for a Ryan explanation) if they would have had the stomach to endure the disruption that would likely had occurred if there was a panic and bank runs. If they say they would have had the stomach to let the free market make the adjustment, then you already know that they're more inclined to vote Republican (or libertarian) as it is. If they claim they would have had the stomach, and you know that they're so-called progressive, hound them right back and ask why government needs to intervene as much as it currently does in the free market. Either way, you're dealing with someone who's extreme...and if they're extreme for free markets [not that that's a bad thing at all], are they really going to shun an anti Obama vote if they live in a swing state? And if it's not a swing state, who really cares anyway? I'm in Georgia and it's very safely red. For this reason Gary Johnson will get my vote. But if I lived in OH, FL, VA, etc...
Jul '10
Re: I Need A Paul Ryan Talking Point...
If Paul Ryan is your problem with the GOP Tommy, talking points aren't your issue.
Did he vote "Present?"
There you go.
Nov '10
Re: I Need A Paul Ryan Talking Point...
drlorentz: Read Ryan's own explanation (h/t EJHill).
Alternatively, try this. · 3 hours ago
The first link is broken, it seems. Could you fix it? I'd like to read that.
May '10
Re: I Need A Paul Ryan Talking Point...
There was nothing whatever wrong with voting for TARP 1.
What was wrong was, first, political demagogy by the Bachmann crowd running for every camera available to shriek about "Bailouts!" at a time when things were in an unknown crisis state, instead of, second, doing the job of governing by tailoring the TARP legislation to prevent it from becoming a bailout of the creditor banks and a slush fund for GM.
What Ryan did was far more responsible than what Bachmann did. And his vote for Medicare Part D wa sa sensible and necessary first step in health care reform.