Lexington, KY newspaper editorial calling out McConnell's lies

[Tennessee Gal]

McConnell's statements are perfectly calibrated to inflame the public. He insists the bill would "allow endless taxpayer-funded bailouts for big Wall Street banks."

Their resemblance to the truth is another matter.

The provision that McConnell claims would allow endless bailouts emerged from a bipartisan collaboration by Sens. John Warner, D-Va., and Bob Corker, R-Tenn.

Warner, who learned a thing or two about capitalism as a successful dot.com entrepreneur before becoming Virginia's governor, told The Washington Post: "It appears that the Republican leader either doesn't understand or chooses not to understand the basic underlying premise of what this bill puts in place."

The provision to which McConnell particularly objects creates an orderly process for letting "too big to fail" banks fail, at the industry's expense, without taking down the entire economy.

The losers would be the management and shareholders, not the taxpayers. So onerous would this process be for failing financial institutions, says Warner, that it would serve as a deterrent to reckless decision-making.



Read more: http://www.kentucky.com/2010/04/15/1224749/mcconnell-to-big-banks-rescue.html#ixzz0lBmguu1K

[babylonsister]

1. Thanks, that's great to read. nt

[Ernesto]

2. K&R!!! nt

[GodlessBiker]

3. McConnell is such a piece of shit. A useless pustule.

[Uncle Joe]

4. Kicked and recommended.

Thanks for the thread, Tennessee Gal.

[quiet.american]

5. K&R nt

[femrap]

6. If McConnell out and out

LIES about a piece of legislation, why isn't he brought up on Ethics Charges?

Hell, put him in jail for Fraud.

I'm so sick of the LIES.

BTW, I certainly do miss Lexington, KY. A beautiful place....plus the Herald used to carry the NYT Crossword Puzzle daily. Not some stupid puzzle for the Willfully Ignorant like here in Columbus, OH.

[Tennessee Gal]

7. Good question ...............

And you are all welcome for the thread.

[Qutzupalotl]

9. I believe Congress exempted itself from the statute

regarding lying in the course of public duties, as outrageous as that sounds.

I imagine the idea was to encourage freedom of speech among members without triggering recriminations for misstatements of facts -- was that an honest mistake or a lie? Sometimes it's hard to tell, but of course McConnell's lie is easily shown for what it is.

[femrap]

10. The System

is broken.

[Zoroastor]

11. It's not a question of if...

...he lies, it's a question of degree. I'm sure you've run across one of those bloggers or trolls that are so full of shit, you just don't know where to start. The ethics committee probably feels that way about McConnell and a number of others.

[Tennessee Gal]

12. Good point.

[Qutzupalotl]

8. Of course, they mean Mark Warner, not John Warner.

Mark's a D and John's a retired R.