TARP Trouble
Published February 23, 2012 4:47 PM
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Updated February 23, 2012 4:53 PM
1 Min Read
Rick Santorum
“I opposed the Wall Street bailout…I held the same position when it came to the auto bailouts. I can say that with respect to Governor Romney, that was not the case. He supported the folks on Wall Street and bailed out Wall Street, was all for it. And then when it came to the auto workers, the folks in Detroit, he said, no. That to me is not a consistent, principled position. (Image: Bloomberg News)
Mitt Romney
“With regards to -- to TARP it's very simple…, I don't want to save any Wall Street Banks. I just don't want [to] make sure we lose all of our banks. And like President Bush at the time, I was concerned that if we didn't do something, there were some pretty high risks that not just Wall Street banks, but all banks would collapse. And like many other people -- many other economists, they were concerned that our entire currency system would go down.” (Image: Bloomberg News)
Ron Paul
“First, I don't like the idea that you have good bailouts and bad bailouts. If bailouts are bad, they're bad, and we shouldn't be doing it… The government is supposed to protect contracts. They're not supposed to regulate contracts and they're not supposed to undermine contracts. And that's what we've been doing.” (Image: Bloomberg News)
Newt Gingrich
Gingrich did not address TARP in his remarks, but instead focused on his opposition to the auto bailout. Still, the former House Speaker told American Banker last year that he would have voted in favor of the bailout if he had still been in Congress. “At the time, I would have voted for it because you can't have the Treasury and Federal Reserve saying to you, 'We are at the edge of total collapse.' I think it's irresponsible to say, 'I'm so smart that I'm going to reject all the experts at Treasury and the Federal Reserve.' But I look at it now-the whole thing is a mess.” (Image: Bloomberg News)
