"Tea Party favorites such as Stephen Fincher of Tennessee were swept into
Congress on a wave of anger over government-funded bailouts of banks.
Now
those incumbents are collecting thousands of dollars for re-election
campaigns from the same Wall Street firms whose excesses they
criticized. They have taken no significant steps to curb them or prevent
future taxpayer-financed rescues.
Republican freshmen have made
clear their disdain for expanding government, and openly opposed a
financial regulatory overhaul enacted by Democrats in 2010 before the
newcomers arrived in Washington. Their ranks include 10 Tea Party-backed
freshmen on the House Financial Services Committee, part of a force
that won election in a populist backlash to government spending that
included emergency lending to major banks and bailout of firms including
U.S. automakers.
Still, the lawmakers haven’t passed, considered
or even introduced legislation to address concerns about “too-big-to-
fail” banks voiced by members of both parties and such Federal Reserve
bank presidents as Richard Fisher of Dallas and Jeffrey Lacker of
Richmond, Virginia.
“I haven’t seen any of them putting forth
legislation on breaking up the big banks or on other things that would
genuinely prevent a bailout next time,” said Marcus Stanley, policy
director of Americans for Financial Reform, a Washington- based umbrella
group of organizations that supported the 2010 Dodd-Frank Act and other
financial regulations..."(1)
A real gem that helps highlight what rot those Tea Partyiers are. They can't even be consistent.
Footnote:
(1) http://www.bloomberg.com/news/2012-04-30/tea-party-congressmen-accept-cash-from-bailed-out-bankers.html
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