The Bailouts: Who Got it Right & Who Got it Wrong
When the financial crisis hit, Cong. Kanjorski, Mayor Barletta and I all took public positions on the bailout. Well, guess which one of us got it right?
As you know, Cong. Kanjorski was a leader in the effort to bailout the banks. He justified his support for bailing out Wall Street by claiming it was "necessary" to save the world. Well, do you feel saved?
Significantly, Mayor Barletta fell for Wall Street's nonsense as well. See, e.g., Borys Krawczeniuk, “Barletta Backs Bailout, Penalizing Executives,” Times Tribune, September 25, 2008; Kent Jackson, “Barletta: Government Makes Economic Problems Worse,” Standard Speaker, October 17, 2008; and Borys Krawczeniuk, “Analysts: Kanjorski’s OK of Bailout Invites Voter Ire,” Times Tribune, October 7, 2008.
Most independent political analysts agree that Barletta's half-hearted opposition to the bailout effectively wasted this issue. See, e.g., John Fortier, “Bailout Vote May Come Back to Haunt,” Politico.Com, October 6, 2008; and Richard Cullen, “The Risks of Being a Yes Man,” Politico.com, October 1, 2008.
In contrast, I purchased an ad in The Pocono Record that ran in early October 2008 in which I explained why the bailouts were both unnecessary and ineffective. In short, I was the only candidate who got it right, and I got it right in the middle of the crisis.
Look, I don't pound Barletta for my health; I pound him because he'll lose this race just like he lost his last two races because he's simply not prepared to fight Kanjorski on economic issues, and we can't win if we can't fight Kanjorski on economic issues.
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