On MSNBC a few minutes ago, Rep. Barney Frank (D-MA) criticized Republican claims that the Democrats’ financial reform bill is a “bailout bill,” calling that assertion “triply phony.”
“There is the issue that the Republicans tried to say, ‘It’s a bailout bill,’ which is the phoniest issue I’ve seen in a very long time,” Frank said.
“That’s saying something,” said MSNBC’s Andrea Mitchell. “That’s saying a lot, because you’ve seen a lot of phony things in your time up there.”
“I have,” Frank said, “and this one is about triply phony.”
“No one will be bailed out,” Frank continued, saying that money couldn’t be used to bail out financial institutions until they’re dead. No more AIG-like bailouts, he said.
We make that illegal, impossible. What we have here, and my Republican friends, they found death panels where there weren’t in the health bill. They’re ignoring death panels where they are in the financial bill. None of the money involved here…can be spent except as funeral expenses to put an institution out of business.
Watch:
