Republican anger at ‘financial socialism’

Richard Shelby, the top Republican on the Senate banking committee, warned “we could very well spend $700bn and not resolve the crisis”. He called on the US to exhaust “all reasonable alternatives” before committing itself to the plan.

Elizabeth Dole of North Carolina said: “I am very sceptical of this proposal and am extremely frustrated that we find ourselves in this position.” Jim Bunning of Kentucky added: “This massive bail-out is not the solution, it is financial socialism, it is un-American.”

FT.com / In depth – Republican anger at ‘financial socialism’.

What’s $700bn between friends?

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2 Comments on “Republican anger at ‘financial socialism’”


  1. Yeah, now we have Bush making America into a socialist nation.

    Well, the GOP brought in on by unbridled greed.

    http://christianliberal.wordpress.com/2008/10/10/democratic-landslide/

  2. jess Says:

    Throwing out unsubstantiated claims doesn’t make it so.

    I agree with the socialism comment, but lay it at the feet of both parties. I am represented in Congress by both parties in my state, and they both voted for the bill – unrelated earmarks and all.

    As for greed only existing in the GOP, take the blinders off:

    http://www.opensecrets.org/news/2008/07/top-senate-recipients-of-fanni.html


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