Tag Archives: TARP

Setting the Record Straight About My Remarks on Rick Santorum and TARP

[We the jury] find the defendants incredibly guilty.

~ from Mel Brooks’ The Producers

By Gary P Jackson

In a recent article Supporting Sarah Palin’s Mission to Eliminate Corruption vs Presidential Politics I wrongly implied Presidential candidate Rick Santorum voted for TARP. Not only was I wrong, I was really, really wrong.

I pride myself in doing the research before I go off on one of my long tangents, and have links to back things up. It seems I failed Rick Santorum, and his supporters, spectacularly.

Much of that article talked about Sarah Palin’s record, as well the records of the candidates for president. Most of that text was devoted to candidates other than Rick Santorum, if for no other reason than I agree with Santorum on most of the issues, and the rest have so many problems I felt more compelled to discuss those candidates. I felt it was enough to say Santorum was the one candidate I could vote for and not have to take a hot shower afterward.

Going from what I thought was memory, rather research, I stated Santorum backed TARP. That was sloppy and as it turned out, incredibly wrong.

I’ve corrected the text, but that isn’t nearly enough.

Santorum has been outspoken against TARP.

Some examples:

At CPAC 2010 Santorum said this:

Whether TARP was the right thing to do for the economy at the time, it was the wrong thing to do for America, because it set a precedent of crony capitalism and government involvement in the private sector that will ultimately destroy this country.

In March Santorum spoke at the Woodbury County Republican Party forum:

From The New Hampshire debate:

At the Dartmouth University Economic debate:

Though we’ve rarely had to correct articles on our blog, this was such a glaring mistake it simply had to be addressed by more than just a change in the original text.

I sincerely apologize for any problems this may have caused Senator Santorum, or our readers.


Filed under In The News, Politics

Caught In A Lie: Rick Perry Claims He Didn’t Support TARP, When In Fact He Begged Congress For It

By Gary P Jackson

From Ben Smith:

After an appearance in Newton, Iowa today, Rick Perry denied to an unidentified woman that he’d ever supported the 2008 bank bailout known as TARP.

No Ma’am,” he told her.

I thought I saw a letter where you had written encouraging the support of TARP legislation,” he persisted.

“You saw wrong,” he replied flatly, as shown in this video, taken by a tracker, of this morning’s event.

Some video:

And now for something completely different:

In An Interview On KSEV 700 AM, Rick Perry Touts His Letter In Support Of TARP:

Perry: As a matter of fact, I signed a letter with the Governor of West Virginia, who’s a Democrat, when September/October a year ago, when they were talking about, Oh my goodness, the economy is tanking. We’ve got to do something. We signed a letter that basically said you know don’t get all frozen up in fear, act.

I didn’t know we needed to write it out for them and say stop spending all of the money and cut the taxes. That’s the blueprint that worked. And still we got people that voted for this bailout that was in hindsight now just an absolute giveaway, didn’t help the economy at all.


In August I wrote Rick Perry Teamed Up With Democrat Governor’s Association To Pressure Congress For TARP and included text of the letters that Perry and Democrat Joe Manchin signed. Perry was acting in his official capacity as Chairman of the Republican Governor’s Association. Manchin was doing the same, as the Chairman of the DGA.

This isn’t a “gaff” and Perry didn’t “misspeak” he out and out lied to the lady in the video when asked a straightforward question point blank. I’m not even sure Barack Obama could pull that off so smoothly!

What a guy!

Smith also reports Perry has tried to run away from this issue before. Read more here.

Look, Rick Perry didn’t just support TARP, he teamed up with a democrat to openly BEG Congress to pass the thing. He and his team can spin things ’til the cows come home, but the facts are the facts.

If Rick Perry would lie about something, that in the grand scheme of things, is so trivial, what else would he lie to the American people about?

This speaks to Perry’s basic character. And it doesn’t speak well at all.


Filed under In The News, Politics

Rick Perry Teamed Up With Democrat Governor’s Association To Pressure Congress For TARP

By Gary P Jackson

In his capacity as Chairman of the Republican Governors Association, Rick Perry teamed up with his counterpart over at the Democrat Governors Association, Joe Manchin of West Virginia, to put pressure on Congress to pass TARP, which turned out to be nothing more than welfare for the Wall Street set. $1 trillion worth of crony capitalism at it’s finest.

Perry and Manchin both signed a series of letters addressed to Senate Majority Leader Harry Reid, Senate Minority Leader Mitch McConnell, Speaker of the House Nancy Pelosi, and House Minority Leader John Boehner.

The body of text reads:

As leaders of our respective organizations, we don’t always see eye to eye on policy, but we come together today with one clear purpose. We strongly urge Congress to leave partisanship at the door and pass an economic recovery package. We both believe that it’s time to stand together for our country.

There is a time for partisanship and there is a time for getting things done. No one likes the hand they’ve been dealt, and now is not the time to assign blame. It is time for Washington, D.C. to step up, be responsible and do what’s in the best interest of American taxpayers and our economy.

This economic crisis is not just impacting Wall Street; it is also making life harder for everyday Americans. Americans across the country and in every demographic are feeling the pinch. If Congress does not act soon, the situation will grow appreciably worse. It’s time for leadership. Congress needs to act now.

History tells us Congress took their advice and did act. History also shows us we would have achieved roughly the same results had we gathered up that $1 trillion, taken it down to College Station, placed it in a large pile, hosed it down with gasoline and had a bonfire that would make an Aggie proud!

You can read copies of all the letters here.

That’s not all, doing his best Mitt Romney/John Kerry imitation, Perry, who was in a tough re-election battle, flip-flopped and came out against the very crap sandwich he helped shove down the American people’s collective throat!

Non-Texans who think Rick Perry is the second coming don’t realize before the 2010 election, Perry could barely spell conservative, let alone pretend to be one. Unlike Mitt Romney who sticks his finger in the wind AFTER events happen, then reacts, Perry sticks his finger in the wind too, but has the ability to act before the wind gets too far past him.It makes him look like he’s been there all along. That is if you don’t look too hard.

Perry, a Big Government establishment guy if there ever was one, saw the writing on the wall, and reinvented himself as a “Tea Party” kinda conservative in 2010. Even wrote a book about it.

Truth is, under Rick Perry, Texas debt exploded a mind blowing 184.2% or 20% a year. That’s AFTER taking bailout money from Uncle Sam. As Whitney Pitcher points out, Governors Huntsman, Palin, Pawlenty, and yes, even Romney, have far better records, as fiscal Conservatives, than Perry.

Perry is calling himself a conservative these days, and he talks the sweet talk, but when one looks at his actual record, they quickly find Perry’s boots aren’t made for walking the walk!

Perry’s flip-flop on TARP:


Filed under In The News, Politics