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The Bob Corker Bailout Sellout

Posted on March 3 2010 6:26 pm
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by Capitol Confident

While the media and most of the public are consumed by the health care death march, the Senate is deep in negotiations to pass a sweeping re-regulation of the financial sector. As the public knows, ObamaCare is an attempt to regulate 1/6th of the US economy. The financial ‘reform’ proposal, though, will impact the other 5/6ths of the economy. In many respects, the financial services ‘reform’ is much more damaging to the economy and our future competitiveness. Worse, its passage is being aided by Bob Corker.

Sen. Bob Corker (R-TN) has snatched defeat from the jaws of victory with his complete capitulation and total surrender on the Financial Services bill. The bill, passed by the House with a $4 trillion bailout provision, making bailouts the permanent policy of the United States government, was on it’s last legs until Corker came to the rescue. Now the Washington Post and other are reporting that Corker and ethically-challenged, retiring Sen. Chris Dodd (D-CT) are on the verge of a deal to breathe life back into the regulatory and bailout scheme.

Read the whole thing.

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