Friday, May 7, 2010

Yo-ho-ho, I need a bottle of rum...

Don't these bailouts remind you of the aid shipments to the People's States of Europe in Atlas Shrugged?

Where is Ragnar Danneskjold when you need him?

GOP continues effort to thwart EU bailouts

By Jay Heflin - 05/06/10 06:30 PM ET

Rep. Cathy McMorris Rodgers (R-Wash), vice chair of the House Republican Conference, on Thursday said the Dow losing approximately 348 points should signal the Obama administration that the Greece bailout will not help to restore the market.

"The market downturn supports the argument of bailout opponents that investors don't have confidence that the Greek bailout deal will work," she said in prepared remarks.

Rodgers and House Republican Conference Chairman Mike Pence (R-Ind.) also sent a letter to Vice President Joseph Biden urging him to oppose a potential bailout of Spain, which appears to be teetering toward financial crisis.

"Should Spain request a bailout from the IMF, we urge you to make it clear that the U.S. will oppose such a bailout, and do all in its power as the IMF's leading contributor to reject putting American money further at risk," they wrote. "The U.S. did not implement the policies that have caused Spain's debt issue and the U.S. taxpayer should not be put at risk to bail them out."

The lawmakers have already sent a letter to Treasury Secretary Timothy Geithner calling on him to oppose the $145 billion bailout of Greece, as well as future European bailouts.;_ylt=AmPhWupHO4yf1orPyddFmKes0NUE;_ylu=X3oDMTQyZTQ5bWM0BGFzc2V0A2FwLzIwMTAwNTEwL3VzX2V1cm9wZV9maW5hbmNpYWxfY3Jpc2lzX2ZlZARjY29kZQNtb3N0cG9wdWxhcgRjcG9zAzYEcG9zAzMEcHQDaG9tZV9jb2tlBHNlYwN5bl9oZWFkbGluZV9saXN0BHNsawNmZWRlcmFscmVzZXI-

Federal Reserve opens credit line to Europe

No comments:

Post a Comment

Comments must be polite and well-reasoned, but passion is allowed when directed at the subject matter and not someone who posts -- violate this, and your comment doesn't get posted. Comments may not post immediately -- I'm pretty busy and don't live on the web.