Republicans Lie Boxer Knocks Them Out of T

Republicans keep saying that the democrats financial regulation bill will "institutionalize tax payer bail outs". Of course it's a lie, like every other issue they've brought up since last year, from Health Care to Student Loans, all they do it lie. But just to make things PERFECTLY CLEAR, our lovely Barbara Boxer has proposed an amendment that even the stupidest repubilcan can't twist into falsehood.

"Still, Mrs. Boxer said, Why not clear things up? “I said to Chairman Dodd, I have an idea that we should put together a very simple bill, an amendment to the bill that basically says what we know is true, that all financial companies put into receivership under this title shall be liquidated. No company is going to be kept afloat. All funds expended will be repaid to the taxpayers by the financial sector through assessments or the sale of the assets of the company.”

In a provision titled, “Liquidation required,” Mrs. Boxer’s amendment states: “All financial companies put into receivership under this title shall be liquidated. No taxpayer funds shall be used to prevent the liquidation of any financial company under this title. All funds expended in the liquidation of a financial company under this title shall be recovered from the disposition of assets of such financial company, or shall be the responsibility of the financial sector, through assessments.”