Bailout Bob Corker: At it Again

It’s not often the two Republican Senators from Maine safeguard the country from excessive government with more vigilance than a Republican Senator from Tennessee. But on the issue of Financial Reform, Sen. Collins and Snowe have become champions for the taxpayers — holding the line against more bailouts and bureaucracy — while Sen. Bob Corker continues to push the country toward permanent bailouts and a Washington regulatory scheme “one like we have not seen before.”

Big Government readers are well aware of Corker’s repeated attempts to cut a deal with “Countrywide” Chris Dodd. Despite signing a letter pledging to oppose the legislation, Corker is now taking to the airwaves denying the legislation contains a permanent bank bailout provision.

Neat trick Senator. Swear to your constituents that you oppose further bailouts and then push a bailout bill by simply saying it contains no bailouts.

Corker has become to Financial Reform what Sen. Lindsey Graham is to climate change legislation — a sucker. And his words are being used by left-wing activists to deny there is a bailout in the legislation.

Corker took to the Senate floor and said ” this fund that’s been set up is anything but a bailout. It’s been set up to, in essence, provide upfront funding by the industry so that when these companies are seized, there’s money available to make payroll and to wind it down while the pieces are being sold off. Now, a lot of people have said this is a Republican idea. There’s no question that this is something Sheila Bair has proposed. The FDIC wants to see a ‘prefund.’ The Treasury would like to see a ‘postfund.'”

Isn’t that precious. Corker is praising the fact that the legislation empowers the federal government to “provide upfront funding” for its seizure of banks and breakup by the feds. Earth to Corker — conservatives support smaller government.

Senator Corkers Office Numbers

Nashville 615-279-8125

Knoxville 865-637-4180

Memphis 901-683-1910

Chattanooga 423-756-2757

Tri-Cities 423-323-1252

Jackson 731-424-9655

Washington DC 202-224-3344