Thursday, September 25, 2008

Someone needs to bail Williams out before hurts himself

Wow, Craig Williams just doesn't get it on the financial crisis.

In the Sept 23 Delco Times story:
"Williams said government-sponsored enterprises, like Fannie Mae and Freddie Mac, need to be removed from the equation and the market must be allowed to operate freely to prevent future problems - an attitude espoused by former President Ronald Reagan."

But earlier in the article:
"Williams said if emergency legislation goes through allowing the bailouts to an as-yet-unknown number of financial agencies, he wants to see some serious accountability built into the provisions. He also stressed the need for transparency in the process and, if appropriate, some subpoenas and indictments being handed down."

Different positions (from the same article):
"Get government out of the way," said Williams. "If government had been out of the way from the start when it came to mortgage lending, the companies would have done fine."

Sestak said he does not agree with that philosophy. If anything, he said, this crisis resulted from a lack of responsible oversight and accountability.

So which is it Craig? Market rules only or regulation? You can't have it both ways. Reaganomics were awful, so if Williams makes up his mind and chooses trickle-down economics, it's just another reason to vote for Sestak.

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3 Comments:

Anonymous Anonymous said...

Sestak is in favor of the bailout, vote him out!
http://www.pottsmerc.com/site/news.cfm?newsid=20140522&BRD=1674&PAG=461&dept_id=18041&rfi=6

12:10 PM  
Anonymous Anonymous said...

I agree!! Anyone who approves this bailout need to go!! The American people do not want it! My vote is with Craig Williams!

9:19 PM  
Blogger David Diano said...

777 point drop in the DOW indicates some kind of bailout is needed (along with FBI investigations of bribery or wrongdoing, particularly "rosy" financial reports).

Unfortunately, it is unclear what the results will be if nothing is down vs. the competing plans.

I'm willing to go along with a bipartisan agreement supported by a majority of both sides, as it is likely better than any of the one-sided alternatives.

Sestak's not a financial expert. He'll go with the majority. His seat is safe with a vote either way.

11:07 AM  

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