Bob Kelleher Says “Just Say No to Foreign Bank Welfare”

September 23, 2008--

  When I put out my press release on the Wall Street bailout (Sept 22, 2008), I had not considered that any member of the US government would even consider extending this to foreign banking conglomerates.  Now, we find that Treasury Secretary Paulson is saying if a foreign bank carries some of Americas domestic debt, then they too would be entitled to participate in the bailout.  In an interview with Fox News Paulson said "It's a distinction without a difference whether it's a foreign or a U.S. one".  I have to ask the question; “What the hell are they thinking?  Of course there is a difference!”  If the Swiss government, with banking experience that predates the American Revolution, wants to bailout their banks, they should do it with their own money, not the money of the American taxpayer.  Under no circumstances should any of the funds being considered for this financial sector welfare plan be used for foreign financial companies.

  Because Baucus is afraid to debate me, but says he will answer questions posed by the voters, please call his office today ((202) 224-2651) and ask Max if he is planning stop this welfare for foreign banks and why, exactly 9 years before this coming election day, on November 4 of 1999 he voted to eliminate taxpayer protection by deregulating the financial industry.  Remember that on November 4 of this year!

For More Information Contact:

Bob Kelleher for US Senate 2008
Box 397, Butte MT 59703
Tel: 406-565-5711
FAX: 406-565-5251
Email: bob@bobkelleher2008.com
Web: www.bobkelleher2008.com