May 25, 2010

Candidate Forum Fact Check #2: Bank Bailouts

THE TRUTH ABOUT…Carly’s views on the Wall Street bailouts.

CLAIM:
Carly supported bailing out Wall Street.

FACT:
Had she been in the U.S. Senate when the bailout was being debated, Carly would have voted against it. Carly recognizes the importance of ensuring our nation did not have a massive bank failure, which would have cut off the blood supply to our country’s economy. However, there were serious problems with the TARP program, not the least of which was its failure to get capital flowing again.

Bailouts Didn’t Tackle The Root Causes Of The Financial Crisis And Another Bailout Won’t Save The Auto Industry. “When credit isn’t available, consumers don’t have the money they need to spend. So I think we have to go back to the root of this problem, ultimately, which is credit is still unavailable. And that is despite massive bailouts of big financial institutions who are still not lending. And I think we also have to remember in this debate about the automakers, whether it’s a $15 billion bailout or a $30 billion bailout that won’t save the auto industry.” (Carly Fiorina, NBC, 12/14/08)

“A Big Government Bailout Won’t Fix The Fundamental Problem.” (Carly Fiorina, Fox News, January 21, 2009)

Fiorina, January 2009: “The Bailout Hasn’t Worked.” “The bailouts thus far have not worked. The original purpose behind the TARP and the bailouts was to get the credit markets unfrozen, and to stop the crisis in the financial system. And, of course, that hasn’t happened yet. And so, credit isn’t flowing to small businesses. Credit isn’t flowing even to big businesses. Remember that the federal government had to bail out General Motors and Chrysler because they couldn’t get a bridge loan from the banks. And small businesses can’t get credit right now. So, the bailout hasn’t worked.” (Carly Fiorina, Fox News, January 21, 2009)

Fiorina On The Bailout: “What We’ve Done Is We’ve Helped The Banks, But We Haven’t Helped America.” “Specifically, with regard to the Wall Street bail-out, what I have said for some time is that if we were going to bail out Wall Street, we needed to make sure that taxpayer money was used to actually solve the credit crisis. And to date, it has not been. So we have all this taxpayer money tied up in making Wall Street’s balance sheet stronger, and yet still, access to credit is extremely difficult, if not impossible, for small businesses who are the life blood of the economy. Access to credit for consumers is still incredibly tight. There is a looming problem with commercial real estate that will come onto the table probably next year. So what we’ve done is we’ve helped the banks, but we haven’t helped America.” (“Interview With Carly Fiorina,” The Flash Report, 11/4/09)

Share this on

  • Facebook
  • Twitter
  • Google Buzz
CarlyforCalifornia.com Site Map
About Carly Fiorina

Carly Fiorina is running for the U. S. Senate because she knows fiscal conservatism and a focus on jobs is the way to return America to greatness. More

Contact and Resource Information
915 L Street, Suite C-378
Sacramento, CA 95814
(877) 664-6676
Paid for by Carly for California