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Candidates positions and views on other Issues where information is available: |
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The report below lists the candidate responses to Financial Crisis issue questions. The responses were provided by Newt Gingrich, Ron Paul, Buddy Roemer, Mitt Romney and Rick Santorum or were obtained from their websites. The candidates select the issues and questions for which they want to provide a response. The first link is a report of all the issues and questions made available to the candidates. Many issues and questions had no responses - links are only provided where we have information. If there are many candidates for this office, you may have to scroll down to compare all responses. |
| Financial Crisis |
Newt Gingrich - R
Website
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No Running Mate Selected |
| Financial Crisis, a General Statement |
Gingrich: Remove obstacles to job creation imposed by destructive and ineffective regulations, programs and bureaucracies. Steps include: Repealing the Sarbanes-Oxley Act, which did nothing to prevent the financial crisis and is holding companies back from making new investments in the U.S; Repealing the Community Reinvestment Act, the abuse of which helped cause the financial crisis; Repealing the Dodd-Frank Law which is killing small independent banks, crippling loans to small businesses and crippling home sales; Breaking up Fannie Mae and Freddie Mac, moving their smaller successors off government guarantees and into the free market; Replacing the Environmental Protection Agency with an Environmental Solutions Agency that works collaboratively with local government and industry to achieve better results; and Modernizing the Food and Drug Administration to get lifesaving medicines and technologies to patients faster.
Source: www.newt.org/solutions/jobs-economy (10/31/2011) |
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| Financial Industry Regulation |
Gingrich: Strengthen the dollar by returning to the Reagan-era monetary policies that stopped runaway inflation and reforming the Federal Reserve to promote transparency.
Source: www.newt.org/solutions/jobs-economy (10/31/2011) |
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| These are available issue topics for which there were no responses. |
| Bailout of Banks and Financial Corporations |
| Bail Outs of General Motors and Chrysler |
| Fannie Mae and Freddie Mac |
| $700 Billion Troubled Asset Relief Bailout |
| Consumer Financial Protection Bureau |
| Prosecution of Financial Fraud |
| Banks |
| Investment Banking |
| High-Frequency Trading |
| Hedge Funds & Private Equity Firms |
| Financial Meltdown |
| America's Brand of Capitalism |
| Financial Crisis |
Ron Paul - R
Website
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No Running Mate Selected |
| These are available issue topics for which there were no responses. |
| Financial Crisis, a General Statement |
| Bailout of Banks and Financial Corporations |
| Bail Outs of General Motors and Chrysler |
| Fannie Mae and Freddie Mac |
| $700 Billion Troubled Asset Relief Bailout |
| Consumer Financial Protection Bureau |
| Financial Industry Regulation |
| Prosecution of Financial Fraud |
| Banks |
| Investment Banking |
| High-Frequency Trading |
| Hedge Funds & Private Equity Firms |
| Financial Meltdown |
| America's Brand of Capitalism |
| Financial Crisis |
Buddy Roemer - R
Website
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No Running Mate Selected |
| Banks |
Roemer: As a small business banker, Buddy Roemer is proud to have chosen smart investments that kept his bank on solid footing while others were taking bailouts from the government to remain solvent. Banking is too important to be left to the bankers, but Buddy recognizes that regulation of the industry must be a fine balance between too much and too little.
Source: www.buddyroemer.com/issues (01/09/2012) |
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| These are available issue topics for which there were no responses. |
| Financial Crisis, a General Statement |
| Bailout of Banks and Financial Corporations |
| Bail Outs of General Motors and Chrysler |
| Fannie Mae and Freddie Mac |
| $700 Billion Troubled Asset Relief Bailout |
| Consumer Financial Protection Bureau |
| Financial Industry Regulation |
| Prosecution of Financial Fraud |
| Investment Banking |
| High-Frequency Trading |
| Hedge Funds & Private Equity Firms |
| Financial Meltdown |
| America's Brand of Capitalism |
| Financial Crisis |
Mitt Romney - R
Website
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No Running Mate Selected |
| Financial Crisis, a General Statement |
Romney: Mitt Romney will rebuild the foundations of the American economy on the principles of free enterprise, hard work, and innovation. His plan seeks to reduce taxes, spending, regulation, and government programs. It seeks to increase trade, energy production, human capital, and labor flexibility. It relinquishes power to the states instead of claiming to have the solution to every problem.
Any American living through this economic crisis will immediately recognize the severity of the break that Mitt Romney proposes from our current course. He is calling for a fundamental change in Washington's view of how economic growth and prosperity are achieved, how jobs are created, and how government can support these endeavors. It is at once a deeply conservative return to policies that have served our nation well and a highly ambitious departure from the policies of our current leadership. In short, it is a plan to get America back to work.
The mission to restore America begins with getting our fiscal house in order. President Obama has put our nation on an unsustainable course. Spending is out of control. Yearly deficits are massive. And unless we curb Washington's appetite for spending, the national debt will grow to the size of our entire economy this year.
As President, Mitt Romney will cut federal spending and bring much-needed reforms to entitlement programs. Mitt will work toward balancing the budget, reducing the size and reach of the federal government, and returning power to states and the people.
Source: www.mittromney.com/issues (10/29/2011) |
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| Bailout of Banks and Financial Corporations |
Romney: "The TARP program, while not transparent and not having been used as wisely it should have been, was nevertheless necessary to keep banks from collapsing in a cascade of failures. You cannot have a free economy and free market if there is not a financial system… The TARP program was designed to keep the financial system going, to keep money circulating in the economy, without which the entire economy stops and you would really have an economic collapse."
Source: reuters.com article, "Did Romney Flip-Flop on
TARP?" (10/11/2012) |
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| Bail Outs of General Motors and Chrysler |
Romney: "Three years ago, in the midst of an economic crisis, a newly elected President Barack Obama stepped in with a bailout for the auto industry. The indisputable good news is that Chrysler and General Motors are still in business. The equally indisputable bad news is that all the defects in President Obama's management of the American economy are evident in what he did...
This was crony capitalism on a grand scale. The president tells us that without his intervention things in Detroit would be worse. I believe that without his intervention things there would be better...
Managed bankruptcy may sound like a death knell. But in fact, it is a way for a troubled company to restructure itself rapidly, entering and leaving the courtroom sometimes in weeks or months instead of years, and then returning to profitable operation.
Ultimately, that is what happened. The course I recommended was eventually followed. GM entered managed bankruptcy in June 2009 and exited it a month later in July.
The Chrysler timeline was similarly swift. But something else happened along the way that was truly egregious. Before the companies were allowed to enter and exit bankruptcy, the U.S. government swept in with an $85 billion sweetheart deal disguised as a rescue plan."
Source: "US Autos Bailout 'Was Crony Capitalism on a
Grand Scale'," published Detroit News (10/11/2012) |
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| Fannie Mae and Freddie Mac |
Romney: "Right now taxpayers are on the hook for almost 90 percent of all new mortgages. The two government-sponsored government housing corporations (Fannie Mae and Freddie Mac) fueled a predictable disaster...
In towns across the nation, foreclosed homes sit empty, depressing the value of entire neighborhoods. The government owns about 200,000 of these homes, or almost half of all of the foreclosed homes in the country. Mitt Romney will responsibly get the government out of the homeownership business and return these vacant homes to productive uses that will increase neighboring home values...
Any serious plan for ending the housing crisis must address its root cause. Two government-sponsored companies known as Fannie Mae and Freddie Mac were at the center of the housing crisis. Mitt Romney will reform these government-sponsored companies to protect taxpayers from additional risk in the future by ensuring taxpayer dollars in the housing market are replaced with private dollars."
Source: www.mittromney. (10/11/2012) |
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| These are available issue topics for which there were no responses. |
| $700 Billion Troubled Asset Relief Bailout |
| Consumer Financial Protection Bureau |
| Financial Industry Regulation |
| Prosecution of Financial Fraud |
| Banks |
| Investment Banking |
| High-Frequency Trading |
| Hedge Funds & Private Equity Firms |
| Financial Meltdown |
| America's Brand of Capitalism |
| Financial Crisis |
Rick Santorum - R
Website
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No Running Mate Selected |
| Financial Crisis, a General Statement |
Santorum: Since leaving Congress, Rick has been a vocal opponent of the Wall Street bailouts and stimulus programs instituted by both President Bush and Obama. Rick believes that by having our government choose winners and losers, both Administrations are setting America on a course to crony western European capitalism that will lead to a weaker future for our children.
Source: www.ricksantorum.com/defender-taxpayer (11/06/2011) |
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| $700 Billion Troubled Asset Relief Bailout |
Santorum: Since leaving Congress, Rick has been a vocal opponent of the Wall Street bailouts and stimulus programs instituted by both President Bush and Obama. Rick believes that by having our government choose winners and losers, both Administrations are setting America on a course to crony western European capitalism that will lead to a weaker future for our children.
Source: www.ricksantorum.com/defender-taxpayer (11/06/2011) |
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| Financial Meltdown |
Santorum: Since leaving Congress, Rick has been a vocal opponent of the Wall Street bailouts and stimulus programs instituted by both President Bush and Obama. Rick believes that by having our government choose winners and losers, both Administrations are setting America on a course to crony western European capitalism that will lead to a weaker future for our children.
Source: www.ricksantorum.com/defender-taxpayer (11/06/2011) |
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| These are available issue topics for which there were no responses. |
| Bailout of Banks and Financial Corporations |
| Bail Outs of General Motors and Chrysler |
| Fannie Mae and Freddie Mac |
| Consumer Financial Protection Bureau |
| Financial Industry Regulation |
| Prosecution of Financial Fraud |
| Banks |
| Investment Banking |
| High-Frequency Trading |
| Hedge Funds & Private Equity Firms |
| America's Brand of Capitalism |