Interview With Congressman McCotter 1

Interview With Congressman McCotter

700 billion bailing out bankrupt Wall Street institutions. Following the homely house of Associates voted against the legislative proposal, the congressman called on President Bush to flames Paulson. Great job on shooting down the expenses effectively. Well, we don’t notice as a victory here, it’s just the duty to complete the job for the American people.

What were your main known reasons for opposing the Paulson plan, on today even in the modified form that you voted? It isn’t about me. I suppose this is a representative federal government. Now, Congress is going to act. It will act in an accountable and timely fashion on a piece of legislation that the American people know is fair to their interests and will help with this financial situation. In the ultimate evaluation, the Paulson plan fundamentally failed in that it needed the American taxpayer to buy noxious, harmful assets out of the marketplace.

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You have to eliminate both plan and Mr. Paulson from the process. I’ve asked the President to demand Mr. Paulson’s resignation and deputize another person so that the Congress and the White House can get on with an idea the American people encourage. Speaking of the actual American people shall accept, A poll was taken by me of my readers and the Right Wing Information took a poll of its readers.

Only 15 percent of the Right Wing News visitors supported the bailout, and no more than one percent of my readers did. Are the administration and the other users of Congress who backed the bill unacquainted with the strength of open public opposition to the plan or do they just not care?

I’ll let them speak for themselves, but I think that what you’re finding is a similar thing for other users of Congress are finding. First, there’s a disagreement that the American people don’t seem to understand what’s happening if these expenses failed. I believe the contrary holds true. The American people, from the entire minute this Paulson bailout was announced, understood what it meant plus they decided they didn’t like it.

What happened was an arrogant administration compelled it upon Congress and finally, finally, thanks to the U.S. House, the people’s tone of voice was heard and obeyed. Now we can finally get down to the serious business of doing what is in the needs of the American people. What basic financial theory is operative in Congress right now? Right now, the thing that was operative, that was devoted front of us, was Paulson’s plan, that was to buy those toxic assets at public expense. There are many other models out there that other nations have used far more often and far more successfully than the flawed model Paulson devote there for the Wall Street bailout.