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Kay Bailey Hutchison admits to mistake supporting bank bailout

November 27th, 2009 . by TexasFred

Kay Bailey Hutchison admits to mistake supporting bank bailout

Kay Bailey Hutchison said Wednesday that she made a mistake by supporting the initial $700 billion bailout of the nation’s financial industry and would change her vote if she had the chance.

Hutchison said the implementation of the Troubled Asset Relief Program was flawed and the money wasn’t being used by banks to lend money to small businesses and prospective homebuyers.

“If I had known how TARP would be spent, I would take it back in a heartbeat,� the senator said during a taping of WFAA’s *Channel 8* Inside Texas Politics. “They spent money not on helping the housing industry, which was the problem, and helping the financial institutions lend money. Financial institutions today are not lending money to help small business get up and going.�

The show airs at 9 a.m. Sunday.

Full Story Here:
Kay Bailey Hutchison admits to mistake supporting bank bailout

Let me think for a minute. Where have we heard something eerily similar recently? Well, maybe not THAT recently, but within the lifetime of MY readers at least. Hmmm…

Oh yeah, I got it. It was Sen. John F’n Kerry back in ’04 as he tried to scam America into making him POTUS, “I actually did vote for the $87 billion before I voted against it,” SOURCE

Sen. Hutchison, hindsight is, as they say, 20/20. A HUGE majority of your constituents did everything they could to convince you, and Sen. Cornyn, to vote against the travesty that started the massive downhill slide our nation is on.

It was your vote, your actions, your support of this debacle, that gave the current inhabitant of the Oval Office the idea that he too could just give our money away. YOUR actions gave him the courage to stand against America in doing so.

The change comes on an issue that has dogged Hutchison for a year in her primary battle against Gov. Rick Perry. He has used the vote for the package to portray her as out of touch with Texas values and indulgent of massive federal spending. Perry’s campaign has constantly referred to Hutchison as “Kay Bailout� to make the point.

The next paragraph is the one that I feel will bring about the political death of either Rick Perry or Kay Bailey Hutchison.

But during the show, Hutchison was forceful in her criticism of Perry, saying that as chairman of the Republican Governors Association, he urged senators to support a bailout because he feared a financial meltdown. She used a letter that Perry co-wrote to Senate Majority Leader Harry Reid as evidence that the governor wanted something done.

Where is that letter? Why is it not published along with this story? Is there anyone that has actually read the letter and interprets it’s content to be showing Rick Perry in support of the bailouts? OR, is this simply Hutchison’s perception of “the letter”?

I am personally convinced that *Bailout* suits Hutchison to a *T* regardless of the “letter” and it’s actual existence.

“Governor Perry was the first one out of the chute to send a letter to every senator saying vote for it, vote for it because we are going to look at a financial meltdown, and that’s what 70 senators did,� Hutchison said. “We didn’t know what was on the horizon and those who are in the know on this say that it would have been a financial meltdown of global proportions.�

I want to see and read this “letter”. I want to form my own opinion regarding the intent of it. I will say this, IF it does exist, if Rick Perry did such a thing, if he specifically told the U.S. Senate to pass a $700 BILLION bailout, I will IMMEDIATELY drop support of him and his candidacy and I will be looking for another well qualified person to support. IF that is what was said and done. But as in ALL aspects of life, politics and blogging, CITATION reigns supreme, if ya got it, prove it!

I will NOT throw my support to Hutchison regardless. She is a U.S. Senator, she works for the people of Texas, at least, that’s how it’s supposed to happen.

She does NOT work for the Governor of Texas and her job is NOT to do his bidding. She is in office to represent TEXAS voters and OUR interests. And by voting FOR the Bush bailout, she failed miserably in that job.

Miner noted that Perry’s letter to Reid did not endorse the specific bailout package that Congress eventually approved and President George W. Bush signed into law. The Democratic Governors Association said the letter wasn’t meant to support a particular plan.

But it is clear that Perry wanted something done, and, Hutchison said, the $700 billion bailout was the result.

It’s CLEAR that the American people want something done too. A bailout is not, and was not it!

Sen. Hutchison is, I believe, trying to deflect the WRONG that she helped bring on the people of this nation and the people of Texas. I believe she is looking to pass the blame. No matter WHAT Rick Perry may or may not have wanted, the vote was ultimately in the hands of the Senate, and the Senate voted FOR the Bush bailout plan. Sen. Kay Bailey Hutchison voted FOR the Bush bailout plan!

Rick Perry did not!

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17 Responses to “Kay Bailey Hutchison admits to mistake supporting bank bailout”

  1. comment number 1 by: Vigilante

    She and Cornyn are prime examples of the turdscum not giving a flying F**K of what, their constituents want ,or don’t want them to do, they are going to do just what they, or the party TELLS them to do. Fred, they ALL need to be given their walking papers. I know there are others that are good people but for some reason, as soon as they are elected they get “that attitude” they no longer have to listen to the BOSS. Anybody that doesn’t listen to me……I fire their ass. The same rule needs to apply to the electorate applying for a job to represent WE THE PEOPLE. Also, as the “BOSS”, WE should grant the pay raises according to the performance of the employee, not according to when the employees needs/wants self gratification. That, is reserved for either of their hands.

  2. comment number 2 by: Silver Fox

    Politicians will never cease to amaze me with all the excuses they come up with just before election time. When is she up for re-election again, and does she plan to resign before the governor’s race is concluded. I read where she is staying in the senate for a while longer—I have a feeling that if the polls in Texas keep showing her in a weak position she will keep her senate seat. I agree with you Vigilante, we do need to clean house. Seems like there is something in the water in Washington, maybe the new members need to take bottled water with them. These guys have literally thrown the Constitution out the window and the 10th Amendment may as well not exist, of course thats been the case for a very long, long time and people kept silent and those freaks in the long black robes have given their blessings to the destruction of the Constitution. They will have to die out for that to change.

  3. comment number 3 by: TexasFred

    Ron, I have some serious suspicions concerning KBH, her leaving the Senate and her run for Governor.

    I think she’s waiting to resign the Senate seat until she knows how the voters of Texas are going to accept her in a run against Perry, I think she’s hedging her bets…

    In any case, there are many here in Texas working to remove the old bat from office, one or the other, she will not be supported as a Senator or a Governors candidate…

  4. comment number 4 by: minuteman26

    Don’t need that coniving old broad running and ruining the great state of Texas. Time for her to retire.

  5. comment number 5 by: HoosierArmyMom

    In regard to “Kay Bailout Hutchinson”, can we all say “EPIC FAIL”!!!!
    Maybe she can find a job as a greeter at Walmart! They lean left and I’m sure they would love to have her worthless butt!

    It will be interesting to see if an actual letter does emerge. As dirty as Democrat/RINO politics can get (remember the MAObama birth certificate that emerged that was “fresh off the press” during the election????), she will probably produce a letter written in crayon!!!!

  6. comment number 6 by: WILLisms

    The Perry letter KBH is referring to never mentions anything about any bailout. Here is the text of the letter, sent from Perry (when he was the head of the Republican Governors Association) and the DGA chairman Governor Joe Manchin, to Congress:

    As leaders of our respective organizations, we don’t always see eye to eye on policy, but we come together today with one clear purpose. We strongly urge Congress to leave partisanship at the door and pass an economic recovery package. We both believe that it’s time to stand together for our country.

    There is a time for partisanship and there is a time for getting things done. No one likes the hand they’ve been dealt, and now is not the time to assign blame. It is time for Washington, D.C. to step up, be responsible and do what’s in the best interest of American taxpayers and our economy.

    This economic crisis is not just impacting Wall Street; it is also making life harder for everyday Americans. Americans across the country and in every demographic are feeling the pinch. If Congress does not act soon, the situation will grow appreciably worse. It’s time for leadership. Congress needs to act now.

    When asked at the time by reporters about the intent of the letter, Perry’s spokesman said it was not an endorsement of bailouts. Even the head of the DGA said the RGA/DGA letter was “not an endorsement of any particular plan” and Perry was outspoken against taxpayer-funded bailouts both before and after the vote. I don’t know about you, but when Republicans talk about “economic recovery packages,” they don’t mean bailouts. Republicans mean tax cuts, spending reforms, ending stifling regulations, etc.

    Here is what Perry put out before the bailout vote:

    AUSTIN – Gov. Rick Perry today issued the following statement:

    “In a free market economy, government should not be in the business of using taxpayer dollars to bail out corporate America. Congress needs to take off its partisan gloves and work together to bring both short and long term stability to the credit markets. They need to stop blaming each other and start thinking about solutions that put the taxpayers of this country first.�

    At the time, KBH’s spokesman criticized Perry for opposing the bailout:

    WASHINGTON — Today’s vote in the U.S. House might be the last one Congress takes on the bailout of the financial markets, but the debate over that bailout could last well into the 2010 Texas governor’s race.

    Republican Gov. Rick Perry has said he’s running for re-election, and Republican U.S. Sen. Kay Bailey Hutchison has said she’s looking at challenging him.

    Long-standing tensions between the two rose to the surface again this week when Perry waded into the bailout debate.

    Shortly before the Senate voted on the bailout package, Perry issued a statement that appeared to condemn it.

    “In a free market economy, government should not be in the business of using taxpayer dollars to bail out corporate America,” Perry said. “Congress needs to take off its partisan gloves and work together to bring both short and long-term stability to the credit markets.”

    His statement drew a sharp rebuke from Hutchison spokesman Matt Mackowiak.

    “Texans can only conclude that Governor Perry opposes the sales tax deduction, protecting them from the alternative minimum tax, extending tax credits for refinery expansion and providing over $600 million in tax credits to help rebuild Texas communities damaged by Hurricane Ike, all of which are contained in this bill,” Mackowiak said.

    So Senator Hutchison’s spokesman back then acknowledged that Perry opposed the bill that Congress passed. Now, they are trying to re-write history and say that Perry somehow made her vote for it. Texans are too smart to fall for that.

  7. comment number 7 by: HoosierArmyMom

    Sounds like “Ms Bailout” is engaging in a little “pre-election manipulation and lying” on this. Beautiful supporting evidence WILLisms. Looks like Fred’s gut instincts about this matter, as per normal, are quite accurate (again!). Anytime Fred’s “Lying Hypocrite-O-Meter” goes off, there seems to be no need to even question it!!!!

  8. comment number 8 by: Bluebonnet Sue

    I am eager to see a response from KBH to what WILLisms just posted. Is there more communication between the two that is yet to be divulged? Stay tuned …..

  9. comment number 9 by: WhoBeen

    Thanks…I saw that very same article and was going to comment on it but could not think faster than Texas Fred…
    I just knew there was an analogy somwhere and Fred caught the Kerry connection…almost like a xerox copy!

    It never ceases to amaze me how these politicians get elected by a certian number of people and then they go off on their own making stupid decisions without ever consulting with with the very people who put them in office. If I remember right, wasn’t there a certain number of people protesting the original TARP? Hutchison should have listened to them…the people know best!

  10. comment number 10 by: HoosierArmyMom

    Personally, I don’t think Kay Bailout “gets it” even now. Why would she be stupid enough to tell outright lies to cover her faux pas??? She still thinks her constituents are dumb and she still believes playing the Washington political games are her right! I doubt seriously that she has even given one thought to the idea that “We the People” may just know better or she would just tell the truth and let the chips fall where they may! That’s what normal people who haven’t sold their souls to the devil known as “special interests” do!!! JMHO.

  11. comment number 11 by: Robin in Texas

    Kay gets it, so do all the Dems, they just don’t believe we are able to do anything about their activities. Rome had the right idea about bad leaders but they still lost their Republic.
    God save our country!

  12. comment number 12 by: Bloviating Zeppelin

    Looks like Perry’s your guy. Period.


  13. comment number 13 by: Robert

    Sounds a little fishy to me but in politics who knows. I would take Perry’s word over Kay’s if I were a Texan. But since I’m stuck in Mexifornia I’ll remain silent before the black Helo’s come down in my front lawn.

  14. comment number 14 by: Patrick Sperry

    Gads! Is there no end to the woman’s..? What should it be called? Hubris?

    Fred is on top of this, and that is a good thing for Texas,and for America.

  15. comment number 15 by: ng4779

    Kay also supports POTUS in amnesty. I am completely against amnesty. Who exactly is KBH working for?

  16. comment number 16 by: Bull

    All I can say, Fred, is that I’m glad she is your problem and not mine. We’ve got enough problems of our own here in Alabama…

  17. [...] 1st piece of evidence I am going to post is this: Kay Bailey Hutchison admits to mistake supporting bank bailout. Hutchison DID vote for the 1st bailout, the BUSH Bailout, and she has been soundly taken to task [...]