Ted Cruz: I Would ‘Absolutely Not’ Bail Out The Big Banks Again!

Ted Cruz speaks during the Republican presidential debate at the Milwaukee Theatre, Tuesday, Nov. 10, 2015, in Milwaukee. (AP Photo/Jeffrey Phelps)
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While other GOP candidates participating in the Fox Business Network debate dodged the question as to whether they would bail out major banks in a financial crisis, Sen. Ted Cruz (R-TX) made his opposition to “cronyism” position clear.

“The opening question [moderator Jerry Seib] asked — would you bailout the big banks again — nobody gave you an answer to that. I will give you an answer,” Cruz said. “Absolutely not.”

Like his Republican rivals, Cruz claimed that the Dodd-Frank financial reform legislation was actually making a future financial crisis more likely. Moderator Neil Cavuto asked him to clarify whether he would let a bank like Bank of America fail if it were on the brink.

“Yes,” Cruz said, before turning his scorn toward the Federal Reserve, which he said was run by a “a series of philosopher kings.”

Cavuto asked him to confirm one more time that he would let a Bank of America go.

“Let me be clear. I would not bail them out,” Cruz said.

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