Newt Gingrich Calls on Obama to Stop the Bailout Madness

Former Speaker of the House Newt Gingrich on Washington's failed policy of bailing out poorly-run companies:

"Thanks to the Bush-Obama-Geithner policy of bailing out failing companies, we now have the worst of all possible scenarios: A taxpayer subsidized, government supervised private company; an unsustainable public/private hybrid that is too public to make its own decisions and too private to be responsible to the taxpayers that are keeping it alive.

"Outrages like the fat cat bonuses currently dominating the headlines will only continue as long as the rule of politicians supplants the rule of law on Wall Street.

"Bankruptcy would replace the rule of politicians over U.S. financial institutions with the rule of law."

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Gingrich Calls on Obama to End Bailouts