Rick Perry Fervently Supported the TARP Bailouts in 2008

Posted by Paul Krugman on August 16th, 2011


Back in October of 2008 when the financial crisis had reached it’s peak as far as fearmongering and sensationalism were concerned, Rick Perry was still the Chairman of the Republican Governor’s Assocation, a position which he held until a few days ago. After the Emergency Economic Stabilization Act of 2008, of which the Troubled Asset Relief Program(TARP) was a part of, failed to pass in the House in its first vote, Rick Perry teamed up with Joe Manchin, who was then the head of the Democratic Governor’s Assocation. Perry and Manchin wrote and sent a letter to Pelosi, Boehner, Reid, and McConnell on October 1st, 2008 urging them to come together and pass the $800 billion bailout, which ended up costing trillions.

Perry even went as far as lambasting members of Congress on their inability to pass the bailout. After the House initially voted against the bailout, Perry went on the attack on behalf of the bailout. The Houston Chronicle reported, on September 30, 2008, days before the bailout passed in an article titled, “Perry slams Washington for Bailout Failure”,

AUSTIN — Gov. Rick Perry, saying he’s “sick and tired” of the partisan gridlock in Washington, slammed the federal government on Tuesday for failing to agree on a rescue of the U.S. financial markets.

“Washington needs to get over the partisan bickering,” Perry said. “They’ve got their work cut out, but one of them is to get over the initial behind their names and start being Americans first and quit being Democrats and Republicans.”
Rick Perry now claims that supporting the TARP bailouts in 2008 was a mistake. He claims that being the Chief of Staff of Al Gore’s campaign in 1988 was a mistake too. Not too long ago–actually less than a year ago–there was a huge conservative movement that kicked fiscally irresponsible members of the House and Senate out of office for voting for the TARP Bailouts and the stimulus package. This is the movement that Rick Perry hopes to co-opt so that he can win the 2012 GOP nomination for President.

http://www.unelected.org/rick-perry-fervently-supported-the-tarp-bailouts-in-2008