Troubled Assets Relief Fund (TARP)

Nothing defines members of congress more accurately than how they vote on key issues. Far more often than not, you’ll find Tom Udall’s votes on the “wrong” side of important bills! Reference supporting article links below.

What This Bill Does:

This bill provides government bailouts of the financial sector, bails out too-big-to-fail banks, bails out Wall Street investment banks, bails out government insured mortgage companies (Fannie Mae and Freddie Mac), bails out insurance companies, shores up a death spiral of a financial sector run amok.

What Vote Aids Middle America: “No”

There can be nothing too big to fail in the United States. Capitalism involves risk and consequences. Bailing out large corporate interests using taxpayer dollars is unacceptable.

What Tom Udall Voted: “No” and “Yes”

In voting “No” for the initial bill Tom Udall had the right idea and cast the right vote. He was against TARP because it would just enrich the bankers, encourage further speculation and gambling with money,and not represent Americans. George Bush was President and he wasn’t going to sign on to a bad bill. However, when President Obama asked him to vote for release of the second half of TARP funds, Tom Udall capitulated and changed his mind. He was assured by President OBAMA that all would be fine so he changed his mind – again. Tom Udall is often a fair weather voter in Congress. He moves the direction his party moves, usually at the back of the herd so he can see where the leaders are going. It is safer that way.