{"id":32681,"date":"2009-06-16T01:01:01","date_gmt":"2011-05-19T02:15:40","guid":{"rendered":""},"modified":"2011-05-19T02:15:40","modified_gmt":"2011-05-19T02:15:40","slug":"the_bailouts_were_a_bunch_of_bs","status":"publish","type":"post","link":"https:\/\/www.rushlimbaugh.com\/daily\/2009\/06\/16\/the_bailouts_were_a_bunch_of_bs\/","title":{"rendered":"The Bailouts Were a Bunch of BS"},"content":{"rendered":"
\n

RUSH: Palm Coast, Florida. Emmett, you\u2019re next on the EIB Network. Hello.<\/p>\n

CALLER: How you doing, Rush?<\/p>\n

RUSH: Never better, sir. Thank you.<\/p>\n

CALLER: Yeah. I recently wrote you the letter called Middle American, and one of the things I didn\u2019t get quite to get to on that was, everyone\u2019s so concerned about this bailout and all — and these companies made bad decisions and poor decisions that we bailed \u2019em out on. What would have happened if we just let it go? I mean, there\u2019s a doomsday theory that all America would have just crumbled beneath everything if we hadn\u2019t have jumped in and paid our taxes to get these guys out of trouble.<\/p>\n

RUSH: That is an excellent question. Now, which bailout are you… There have been, what? Four of note. Which one specifically? Are you talking about GM? Are you talking about GM and Chrysler? Are you talking about banks? Are you talking about TARP? Which one are you specifically referring to here?<\/p>\n

CALLER: Well, to get specific, we\u2019ll do the GM bailout. I mean, they made poor choices on financing the wrong people and people who aren\u2019t ready to finance, so in my way of thinking…<\/p>\n

CALLER: Okay, here\u2019s the thing on that. In a normal capitalist economic system, if they can\u2019t make it they file Chapter 11. Which they shoulda done in the first place. How many billions did we throw at both companies to save \u2019em. It didn\u2019t work and they both end up going modified Chapter 11, written and dominated by Obama? And now Obama controls them, which is what he was after from the start. And I know that Bush was the guy that actually started the first bailout of GM, but Obama during the transition called Bush and urged him to do it. And Obama was trying to play hide-and-seek during the transition but he was in on this. He wanted Bush to do it. Bush was, I think, just trying to be cooperative — he\u2019s a class guy — with the incoming chief of state. <\/p>\n

The TARP bailout, that was a ruse from the get-go. We have since learned… Look at what we were told about that. We were told if we didn\u2019t do the TARP bailout that the country would cease to exist and the country would default and we would all be essentially penniless in 24 hours! That\u2019s how they sold that. Remember Hank Paulson was running around with Ben Bernanke? We\u2019ve bailed out all these banks and all it\u2019s done is led to government control of the banks. Remember the original purpose of the TARP bailout was to get credit going again so people could borrow? It still hasn\u2019t happened. It still hasn\u2019t happened! The whole thing, the whole thing was a ruse, folks. I don\u2019t know what the purpose is.<\/p>\n

I mean, you could speculate and say this was about Wall Street being made whole with your taxpayer dollars. It was about Paulson trying to take care of his buddies so they didn\u2019t lose their homes in the Hamptons. But we know it wasn\u2019t about saving the economy. It wasn\u2019t about saving the country. We\u2019ve done far more than TARP now. Obama has spent — over ten years, if he doesn\u2019t spend another dime — $12 trillion! Money we don\u2019t have. What we\u2019ve done in response to whatever financial crisis there was, was compound the crisis by a multiple of ten if we\u2019d have just left it alone. If things are that bad and if things are running irresponsibly, people are running business irresponsibly, it happens in small business to people all the time. <\/p>\n

It doesn\u2019t work. They have to shut down. But somehow when it\u2019s large and so forth… We wanted to save it, right? The theory was we wanted to save the banks, save Wall Street, get credit going again. What\u2019s happened? What\u2019s happened is that Obama\u2019s now setting payment, compensation schedules for people on Wall Street — and he\u2019s talking about doing it in businesses that have nothing to do or have not even taken any bailout money. This whole thing was a ruse and a scam from day one. People, one of our great problems in the United States, people will trade their liberty for security. Even though the natural yearning of the human spirit, as created, is to be free, security is a big competitor to liberty. That\u2019s why they are able to sell this health care crap. That\u2019s why they\u2019re able to sell the bailouts. <\/p>\n

Because it was about security and about people not ‘getting hurt\u2019 and about people not losing their jobs and people not losing this or that. We just can\u2019t stand after all of this self-esteem education that we\u2019ve been pummeling our kids with for 35 or 40 years and all this stupid, rotten conflict resolution stuff. We can\u2019t have any pain — and we\u2019ve got more pain ahead of us than you can possibly imagine because of the steps taken to eliminate pain at the moment. And we still have a lot of pain! It\u2019s 9.4% unemployed. We\u2019ve got a lot of pain. Look at the latest numbers here. ‘The value of loans held by the 21 largest institutions getting support from the government $700 billion bailout fund fell,\u2019 the value of the loans fell ‘in April, the fifth decline in six months. The bottom line is that more than 9% of all mortgages are at least 30 days late now. People in 9% are 30 days late behind payment.\u2019 None of this was supposed to happen! We were supposed to fix this. <\/p>\n

And remember the people who were in trouble? They were supposed to even go to an Obama website and stay in their house without being foreclosed. None of it\u2019s happened, every bit was a lie! The stimulus was a lie. The stimulus package. Tom Coburn of Oklahoma has found ‘Repairs for rural bridges, an under-highway safe crossing for turtles and efforts to protect the sage grouse population are among 100 projects a [he] pointed to Monday as questionable federal stimulus\u2019 money. Stimulus money was supposed to get you a job! It was supposed to put people back to work. Instead, we passed stimulus and have 9.4% unemployment. ‘The list by Senator Coburn includes projects others would identify as ideal for creating jobs and benefiting generations of Americans.\u2019 Skateboard parks? I mean, would not be ideal. Skateboard parks, streetscrapes, upgrades of park facilities, bike trails, parking garages? That\u2019s what\u2019s being built with stimulus money. Stimulus money was to stimulate the economy. <\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: Palm Coast, Florida. Emmett, you\u2019re next on the EIB Network. Hello. CALLER: How you doing, Rush? RUSH: Never better, sir. Thank you. CALLER: Yeah. I recently wrote you the letter called Middle American, and one of the things I didn\u2019t get quite to get to on that was, everyone\u2019s so concerned about this bailout […]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[],"tags":[],"yoast_head":"\nThe Bailouts Were a Bunch of BS - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rushlimbaugh.com\/daily\/2009\/06\/16\/the_bailouts_were_a_bunch_of_bs\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"The Bailouts Were a Bunch of BS - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: Palm Coast, Florida. Emmett, you\u2019re next on the EIB Network. Hello. CALLER: How you doing, Rush? RUSH: Never better, sir. Thank you. CALLER: Yeah. 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