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Meadville Trib: "Kelly backs "Wall Street Bailout" while other candidates don't" (May 7, 2010) Meadville Tribune May 7, 2010 Erie – In a debate hosted on WJET-AM radio in Erie Thursday between the six candidates for the Third Congressional District, Mike Kelly voiced his support for the TARP bill, commonly referred to as the “Wall Street Bailout.” According to a press release issued Thursday afternoon by another GOP candidate, Paul Huber. The TARP bill, or Troubled Asset Relief Program, is a U.S. government program to purchase assets and equity from financial institutions to strengthen its financial sector. It is the largest component of the government’s measures in 2008 to address the subprime mortgage crisis, Huber’s release noted. Kelly acknowledged his support for the Wall Street bailout was a distinction between himself and the other five candidates when asked by the debate moderator, according to the release. Huber said he opposed the bill because it used taxpayers’ money “to reward those who played Las Vegas style capitalism.” “This $750 billion bailout further increases the national debt and put more money on the credit card bill that our children and grandchildren will have to pay,” Huber said in a statement Thursday. The Third Congressional District includes almost all of Crawford County. The candidates are vying for the Republican nomination in the May 18 primary. ### |
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