Biden: Feds Should Not Bail Out AIG
No, I don't think they should be bailed out by the federal government. I'll tell you what we should do. We should try to correct the problems that caused this. And what's caused this? The profligate tax cuts to the very, very wealthy that John wants to continue.
What's caused this is the failure to have regulation so that, in fact -- John talks about these CEOs getting these big bailout packages. Well, why didn't he support the legislation we have been proposing that says that if you're going to declare bankruptcy, you've got to throw the CEO in the mix as well as everybody else? Why didn't he support the proposals that we have to allow in bankruptcy a federal bankruptcy judge to renegotiate the principal of your mortgage? Why didn't he do something to help the middle-class people who are hurting very badly? Is their government and it's this government's policies that have caused them to get in great trouble.
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