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Pulling the tarp over TARP

Finally, a voice of sanity in the US Senate. Republican Sen. Mike Johanns of Nebraska, and former Governor of that State, has introduced a bill that is co-sponsored by 26 other Republicans in the the Senate to require Congressional approval for any use of TARP funds that would result in government ownership of private businesses through obtaining common or preferred equity stock shares.

He is calling it the "Free Enterprise Amendment." No Democratic Senator  has signed on so far.

As Johanns rightly points out, the President and the Administration are operating unchecked in this arena. In my view, this is contrary to Constitutional provisions.

We certainly don't need more bailouts or public ownership of failing corporations. I've contacted my Senators. Calling on all free marketers to do the same.

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Comment balloon 1 commentKevin Robinson • June 05 2009 12:54PM

Comments

It is about time one of them stepped up. We need checks and balances!-Dinah Lee

Posted by Dinah Lee Griffey, Managing Broker Windermere Peninsula Properties (Windermere Peninsula Properties) over 8 years ago

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