Kay Bailey Hutchison Give GOP Address

Sen. Kay Bailey Hutchison gave the weekly Republican address. She focused on the problematic bank "reform" legislation that Democrats are trying to cram through the Senate.

Here's an excerpt:

“Republicans are working to ensure the bill would forbid any future bailouts of Wall Street banks. The idea that a financial institution is ‘Too Big To Fail’ perverts free market capitalism. It suggests that large firms can privatize their profits, yet socialize their risks. Or, put simply, these companies take their profits in good times - but when things go bad – they turn to the government to bail them out. This must end. The American people should not be forced to pay the risky gambling debts of the large financial institutions.

“The Democrats pushed a bill through the Senate Banking Committee that does not stop future bailouts. Republicans have been attacked for speaking out against it and asking for bipartisan negotiations before allowing the bill to be debated on the Senate floor. But to be clear, we will stand firm against a partisan bill that exposes ordinary taxpayers to future bailouts or favors big companies over community banks across America. The tactics the Democratic leadership used to pass the health care bill must not be repeated.