Monday, November 17, 2008

Inhofe: Yank Paulson's Leash

Oklahoma (R) Senator Inhofe thinks Paulson should be stopped.

U.S. Sen. Jim Inhofe said Saturday that Congress was not told the truth about the bailout of the nation's financial system and should take back what is left of the $700 billion "blank check'' it gave the Bush administration.

"It is just outrageous that the American people don't know that Congress doesn't know how much money he (Treasury Secretary Henry Paulson) has given away to anyone,'' the Oklahoma Republican told the Tulsa World.

Inhofe makes a very good case:

Last week the Treasury secretary announced he was abandoning his plan to free up the nation's credit system by buying up toxic assets from troubled financial institutions. Instead, Paulson wants to take a more direct action on the consumer credit front. "He was able to get this authority from Congress predicated on what he was going to do, and then he didn't do it,'' Inhofe said.

Inhofe would make changes in the legislation during the lame-duck session, but he's not likely to get much support; the Bailout passed, 74-25.

Harry Reid had no comment. There's a reason: Reid would LOVE to stick this mess onto the Republicans.


andy k. said...

Why do our Congress-Critters vote on stuff, when they don't even know what it does?

Whatever happened to "scrutiny", and maybe even... "reading text of bill"?

Gretchen said...

I'm sorry, but Congress knew durn well that there was no oversight. I read reports of that on a few of the conservative sites well before it passed the second time around. They knew, they were just caught up in the 'emergency' and let it go.