Read time: 2 minutes

Monica Crowley Thinks Bailouts Are The Government "Jackboot" On The Private Sector

[media id=7709] You Tube From The McLaughlin Group March 27, 2009. McLaughlin: Question. Are these bailouts sufficient to restore the economy I ask

You Tube

From The McLaughlin Group March 27, 2009.

McLaughlin: Question. Are these bailouts sufficient to restore the economy I ask you Monica?

Crowley: No because you put out a consecutive list of companies, institutions, sectors that have required some money over the last couple of months. In just about every single one of those cases there was a redundancy there. AIG coming back. The auto industry coming back. What we have poured into all of these sectors has not nearly been enough and it will not be enough. This is like spitting into the ocean. It's not going to be enough to restore the economy and if we keep going down the path of having the government jackboot on the private sector, the private sector which will be the engine of this growth (crosstalk).

Clift: The government jackboot on the private sector...uh the private sector had its jackboots on American taxpayers for a good long while and we had companies like AIG basically operating like a hedge fund selling a little insurance on the side. And it is totally appropriate that we now try to get a handle on the new financial world that's a titanic struggle between the Treasury Department and the financial community and who's going to run the economy.

It evolves into one of the typical shout fests The McLaughlin Group is known for. All but John McLaughlin and Monica Crowley on the panel agree that there needs to be some government regulation over these investment companies and hedge funds.

McLaughlin and Crowley both think the free market should rule at all times. Circumstances be damned and let the buyer beware. Crowley also said that the FDIC didn't do its job. Later in the show Eleanor Clift pointed out the flaw in that argument, as in they didn't have jurisdiction or they may have come in already and seized some of these companies. Somehow I doubt that will stop Crowley from repeating the line the next time she's on Fox News.

Can you help us out?

For 16 years we have been exposing Washington lies and untangling media deceit. We work 7 days a week, 16 hours a day for our labor of love, but with rising hosting and associated costs, we need your help! Could you donate $21 for 2021? Please consider a one-time or recurring donation of whatever amount you can spare, or consider subscribing for an ad-free experience. It will be greatly appreciated and help us continue our mission of exposing the real FAKE NEWS!

More C&L Coverage


New Commenting System

Our comments are now powered by Insticator. In order to comment you will need to create an Insticator account. The process is quick and simple. Please note that the ability to comment with a C&L site account is no longer available.

We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service (revised 3/17/2016) for information on our posting policy.

Please Do Not Use the Login Link at the Top of the Site.

In order to comment you must use an Insticator account. To register an account, enter your comment and click the post button. A dialog will then appear allowing you create your account.

We will be retiring our Crooks and Liars user account system in January, 2021.

Thank you.
C&L Team