Saturday, October 04, 2008

Carl Levin Voted for the Bailout

Michigan Senator Carl Levin voted for corporate welfare for Wall Street firms bankrupted by bad lending. An email from Jack Hoogendyk elaborates further.


Hoogendyk: Levin is on the Side of Big Government

US Senate Candidate Calls for Action in Favor of the Market

Michigan - October 3, 2008 - US Senate Candidate Jack Hoogendyk expressed his strong disagreement with Senator Carl Levin's vote in favor of the bailout package. Two days ago, Michigan's US senators split on the bill: Senator Stabenow voted against it, whereas Senator Levin voted for it.

"I applaud Senator Stabenow's 'no' vote," Hoogendyk said, "but it does not come as a surprise that, once again, Senator Carl Levin has chosen to put himself on the side of the 'we-know-better-than-you' government rather than on the side of the people, individual potential, and the free market. If Congress does indeed pass this legislation, we will have missed a golden opportunity to reduce the burden of taxation and misguided regulation."

"The capital gains tax, the corporate tax, and the mark to market rule of accounting are all examples of government burdens that, if removed, would produce immediate results for the economy. While I recognize the urgency of this crisis, I cannot support a government solution that may provide short-term relief but will further hamper economic growth in the long run."

1 comment:

Adam said...

your boy hoogendyke needs to take a couple of finance classes.

mark-to-market accounting is not a burden.. it is a tool that business fought for that allowed them to mislead their books and screw themselves up.

it has nothing to do with the government.

but i guess it doesnt matter since no one in the state knows who he is outside kalamazoo and he's going to get demolished in november.