The Brian Sullivan Blog
  • September 19, 2008 02:30 PM EDT by Brian Sullivan

    Bunning: Free Market Dead

    This was just realized by Senator Jim Bunning's office:

    WASHINGTON, D.C. -- U.S. Senator Jim Bunning today issued the following statement regarding the Treasury Department’s bailout of Wall Street.

    “Instead of celebrating the Fourth of July next year Americans will be celebrating Bastille Day; the free market for all intents and purposes is dead in America,” said Bunning.  “The action proposed today by the Treasury Department will take away the free market and institute socialism in America.  The American taxpayer has been mislead throughout this economic crisis. The government on all fronts has failed the American people miserably.

    “My great grandchildren will be saddled with the estimated $1 trillion debt left in the wake of this proposal.  We have gotten to this point because nobody has been minding the store.  Both Secretary Paulson and Chairmen Bernanke should be held accountable for their inaction – and now because of that inaction – the American taxpayer is left with bill.

    “We must take care of Main Street.  Small businesses in Ashland, Bowling Green, and Paducah are hurting because of high taxes, and energy costs.  Those small businesses are the economic engines that fuel our economy.  I hope in the closing days of this Congress we can pass legislation to help those good people on Main Street rather then helping the power brokers on Wall Street.”

Gary

At first I was outraged that a Republican administration, committed as are most such animals to let the market do its thing, let the subprime mortgage debacle happen (especially the huge roles that Fannie Mae and Freddie Mac played). Then I heard on the news that about a year ago the Administration really wanted to rein in the 2 Macs but -- get this -- Chris Dodd and Barney Frank, the respective chairs of the Senate and House Banking Committees refused to allow any pressure on them. Then it came out yesterday that Dodd had received something like $200,000 campaign contributions from them, double the person who got the second highest amount (Barack Obama). So, you tell me, whose fault was it????

September 19, 2008 at 5:51 pm

Chiefos McStacy

Mr. Sullivan, It is indeed a dark day for the free market, and for capitalism as we knew it. The nationalization of the banking system, and now the AIG bail out, have been the trillion dollar straw that broke capitalism's back! The gains on Wall St, and around the globe today, are an artificial reaction to a decision which will forever change the global marketplace. This government has vastly overstepped it's bounds, and now that Pandora's box is open, we will all reap the whirlwind! We are on the doorstep of fascism, way beyond the predictions of a new socialistic state. The nationalism of this many businesses, and this amount of money, will bankrupt us all and leave utter financial destruction in it's wake globally. What will we do? How can any American who has read the Constitution stand for this? Respectfully, Chiefos McStacy

September 19, 2008 at 5:47 pm

bravetruth

How'd we get so socialist? Here's how: So if I'm part of an ethnic group that's less than 2% of the population how can we possibly gain control? We'd need to create allies. The majority we're up against are real capitalists, in fact they built their booming economy by inventing and manufacturing just about everything in the last century. We are more 'anti-capitalism' so we created unions. Now they all vote with us so they can make more money and not work as hard as their non-union neighbors. Another large group we recruited was Afro-Americans. We ran the Civil Rights movement, got them all sorts of programs, encouraged their population boom and now they are voting with us. But there was still too many of these original 'real american' type yahoos voting against us so we changed the immigration policy and let lots of different cultures in to make us more 'diverse'. They now get all kinds of benefits so they vote with us. Oh and the Gays are all ours. We totally support them and whatever excesses they can think of. That goes for child molesters, pornographers, gangstas- anything the Christian majority has a problem with. Our ACLU protects them. And makes sure we don't have to endure their Christmas celebration anymore. Without much opposition we were able to buy up just about all of their information sources. We have our people writing and producing most of the news, movies, magazines, books, TV shows and reviews. Now our liberal fringe ideas are considered 'politically correct'. Lots of our award winning shows and articles (we control the awards of course) work in a little bit about how bad our government ,corporations and 'narrow minded white men' are and how really great and misunderstood gays, immigrants and minorities are. Our people run the public broadcasting, schools and universities making sure no alternative message gets through. We had it made for a while. Then Limbaugh slipped through somehow. We got a book out as fast as we could -'Rush Limbaugh is a big fat idiot'. That's the kind of attack we use. Ann Coulter is stupid. O'Reilly is stupid. We do our best to control the Internet and soon hope to shut down what we consider 'hate' sites. No, not the DailyKos, that's good hate. Google is ours and we have so many rabid bloggers you'd think we were the majority in this 'democracy'. We recruit any 'real american' types we can to be our puppets. They make a lot of money if they behave. Some of our favorites are Al Gore, Katie Couric, and any actors who want to work. This country has really been a cakewalk. 'Real americans' were so caring and moral they'll accept all our schemes to buy voters using their tax dollars. More programs to help minorities and immigrants. They've seen nothing but positive portrayals from us so 'sure'. We may have milked them dry now though. They seemed to have an endless supply of riches from their inventive creativity and hard work. A few of those early heroes like Henry Ford and Charles Lindbergh tried to warn them about us. We sued and wrote negative stuff about them. That's worked very well for us. Like Joe McCarthy, ever seen anything positive about him? Okay only from Ann Coulter. She's stupid.

September 19, 2008 at 4:37 pm

Justin

Markets regulate themselves. Let these wall streeters go bankrupt. Someone explain to me how bailing out some of the richest people in this country is somehow good for the "general welfare". We don't need more regulation. We need to let winners win and losers lose.

September 19, 2008 at 4:24 pm

William Teaney

I totally agree with Senator Bunning's statements. The Free Market is dead. & we are now heading straight into a Socialistic economy which is right where Senator Obama wants us to be. I am just flabbergasted that it was a republican watch that this is happening on. I am seething with rage & would love to go to Washington & burn it to the ground & execute the entire congress. What I want to know is WHY no one has the gumption to say " what happened to responsibility for your actions/decisions? " No one held a gun to all these nitwits who lied on loan applications or borrowed/bought more then they could afford. They gambled ( just like going to Vegas) & lost. Accept your losses, chalk it up to experience & leave the rest of us who know better & played by the rules alone & unscathed. I do not want to/nor should have to pay for their poor judgement & gambling losses.

September 19, 2008 at 3:28 pm

Kris

Free market was dead long time back... 1) You go to school and the education is costly. 2) We get a job to payoff.. but we are stuck with mortgage worries and healthcare insurance. 3) The we have a social security which may not pay well. I think we are almost back to gold standard!!! If my employers pay me cash I wont open a bank account! Now I probably wont buy a car or a house. Only people who can live in America are doctors, lawyers and wall street folks..... Guess what 1 down and 2 to go!! Power up!!

September 19, 2008 at 3:19 pm

Isabel G

Bunning is a numbskull. He and his congressional cronies were the idots who failed to regulate appropriately.

September 19, 2008 at 3:02 pm

about this blog

  • Brian Sullivan joined FOX Business Network (FBN) in April 2008 as an anchor. He co-anchors the 10am-12pm ET hours of the FOX Business block. Prior to joining FBN, Sullivan served as an anchor for Bloomberg Television where he hosted the programs Morning Call and In Focus.

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