U.S. Senator: the government should not save large banks from collapse


NEW YORK, November 11. /Corr. Alexey Kachalin/. The U.S. Federal government should not at the expense of taxpayers to buy the big us banks find themselves in crisis on the verge of bankruptcy. The importance of this issue was supported by the Senator from Texas Ted Cruz on Tuesday, speaking in Milwaukee (Wisconsin) in the fourth debate of the Republican candidates to the candidate on a post of the President of the United States.

“No one will answer this question. But I’ll give. Absolutely not,” the politician said, answering a question of the leading debates Neil Cavuto. He was asked to clarify too monosyllabic answer which could be misinterpreted. “I’m not going to buy them,” Cruz said, referring to their actions if elected President of the USA on elections in 2016.

The Senator said that in this case it would be more preferable to prevent the destruction of large banks, rather than go by “the correction of the monetary policy on a whim”. In such situations, their role should be played by Federal reserve system (performs functions of the Central Bank in the USA). The fed should set the “gold standard” of crisis situations and to serve as a “borrower in exceptional cases, when there is no other way,” said Cruz.

Other participants in the debate stated that the topic of bailing out the banks extremely important in America, given the sharp criticism of the administration of President Barack Obama. He, as you know, during the global financial crisis of 2009, despite all the assurances, provided for by the state and taxpayer support to troubled banks, insurance and automotive giants.

The former head of Hewlett-Packard Carly Fiorina rebuked the Obama administration that it is in crisis situations received the same type and, from the point of view of entrepreneurs, is inefficient. The state “simply introduces a new tax, anyway, and gets their wish”. Thus, the government “itself creates problems, which have to disentangle other,” added the Challenger. She recalled that when President George Bush crisis had sivalai differently: “the Banks just said, and strongly said that they want to buy troubled banks”.

In the final round of the debate involved eight candidates, which is the most popular of the electorate. In addition to Cruz and Fiorina is the entrepreneur – billionaire Donald trump, former neurosurgeon Ben Carson, Senator from Florida Marco Rubio, former Florida Governor Jeb Bush, Kentucky Senator Rand Paul, Governor of Ohio John following keysik.