In his opening speech to members, Cannon criticized ``government run amok'' in Washington and blasted Congress for ``taking over banks and financial institutions . . . socializing medicine . . . and trampling the property rights of citizens and the sovereignty of states.''
Cannon doesn't like the bailouts? Would Speaker Cannon have supported letting investment banks with commercial arms lose the financial savings of millions of Americans?
Would Cannon supported letting AIG fold not not being able to pay the banks that were owed money on 440 billion they owed investment banks?
Would Cannon have preferred hard-working Americans who placed their life saving in these banks just lose their money because of the mistakes of others?
Does Cannon realize a Republican-controlled Senate and President Bush passed and signed TARP?
Cannon doesn't support regulations? The free market failed and the American economy has still not completely recovered. Can Cannon propose policies that are devoid of bumber sticker slogans and addresses the problems of the financial syetem?
If Cannon can do none of these things then there is no reason anyone should take him seriously. My patients for economic illiterates is at zero.
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