Busted: Watch Paul Ryan Beg Congress For A $1 Trillion Wall Street Bailout


My fellow colleagues, we’ve heard a lot of nonsense and nay-saying this morning, some of it hard to believe, but the pile of bullshit I’m about to deliver, is going to be massive.”

Rep. Paul Ryan (R-WI) on the House floor during the debate over TARP – Sept. 29, 2008

The video starts automatically at Ryan’s speech.

Ryan voted for the bailout while clearly having no clue as to why he was doing so, other than following orders from Paulson. Like most TARP supporters, he doesn’t use rational, well-developed arguments to convince his colleagues to vote for an open-ended Wall Street bailout. Instead, he offers the same platitudes we’ve been hearing for 3 years — stale metaphors, blatant fear-mongering, whining about the personal difficulty of voting for TARP, etc. Select quotes below.

“We also made sure that the executives of these companies that made these bad bets don’t profit from this rescue recovery plan.” [LOL this blows his credibility clean out of the water]

“This Wall St. crisis is quickly becoming a Main St crisis.” [yeah, because you guys are about to f*** us over by bailing out Wall St.]

“If it goes the way it could go, that means credit shuts down. Businesses can’t get money to pay their payroll….Students can’t get student loans for next semester. People can’t get car loans. Seniors may not have access to their savings.” [Fear-Mongering 101: this is straight from the Paulson and Bernanke playbook]

“Are we standing at the edge of this abyss? Nobody knows. But maybe. It’s very probable.” [OK, he both admits and demonstrates that he has no clue, and neither doesn anyone else, but they’re going to vote for TARP anyway, by gum — just fantastic]

“Madam Speaker, this bill offends my principles. But I’m gonna vote for this bill — in order to preserve my principles.” [yes, now we know exactly how much Paul Ryan’s “principles” are worth — probably within a nickel or two of John Boehner’s “principles”]

“This is a Herbert Hoover moment. He made some big mistakes after[???] the Great Depression.”

“All eyes of the world markets are here on congress. It’s a heavy load to bury. It’s a heavy load to bear.” [aw, poor little congressman…]

“Colleagues, we’re in the moment….We’re here. We’re in this moment. And if we fail to do the right thing, heaven help us. If we fail to pass this, I fear the worst is yet to come.” [if Ryan had decided at this point to don some kind of feathery tribal head dress, wave his hands in the air, and shout absolute, inarticulate gibberish, he might have actually made more sense — “we’re in the moment”??? ]

“I believe with all my heart, as bad as it is, it could get a whole lot worse. And that’s why I think we have to pass this bill.” [belief based on what? this is a totally fact-free rationale Ryan gives here — all of it — TOTAL FAIL]

Categories: ECONOMY

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