Rep Cmte Financial Services

Democrats Reject Republican Amendments to End, or Even Limit, Bailouts



June 17, 2010


- Financial Services Committee Ranking Member Spencer Bachus today expressed disappointment as House Democrats defeated a series of amendments offered by Republicans to put an end to, or even limit, taxpayer-funded bailouts, including those for government sponsored enterprises Fannie Mae and Freddie Mac. 

"Even though Democrats in both the Senate and the House have passed bills to permanently institutionalize bailouts for Wall Street. I know - and everyone at this Conference knows - that the American people are tired of bailouts," Bachus said.  "The only way to end the bailouts is to ensure failed institutions do what all other businesses and individuals are required to do - declare bankruptcy instead of relying on taxpayer handouts. Bankruptcy is the only way to protect taxpayers and end the bailouts. But the Democrats have fought us at every step, and the bankruptcy provisions - and any restrictions on future bailouts - are still not included in the bill." 

The following anti-bailout amendments were proposed and supported by House Republicans, but rejected by the Democrats in the majority. 

For more information on the House Republican plan to ensure failed firms qualify for bankruptcy, not bailouts, click here