Thursday, January 15, 2009
Bayh Votes Against Bailout II
Sen. Evan Bayh was among a handful of Democrats to vote to deny President-elect Barack Obama the authority to tap the remaining $350 billion in TARP funds. The Senate voted down the resolution to block the funds on a 42-52 vote. Sen. Lugar joined Bayh in supporting the resolution. We now know that Treasury Secretary Henry Paulsen and Federal Reserve Board Chairman Ben Bernanke completely misled the public about the state of the country's financial system and how the TARP bailout dollars would be used to rescue us from complete disaster. While I supported the original bailout bill, I have quickly come to regret that support. I haven't seen a statement from Bayh on the reason behind his vote, but it is a clear sign he is trying to reposition himself to the center as he prepares for his 2010 re-election race. Now if he would only show some more courage and tell Obama he needs to withdraw Treasury Secretary nominee Timothy Geithner. Replacing the dishonest Paulsen with the tax cheat Geithner offers little comfort to the American people.