You are here

Free Market Groups Launch BeyondBailouts.org

News Releases

Title

Free Market Groups Launch BeyondBailouts.org

Normal
0

false
false
false

MicrosoftInternetExplorer4

Normal
0

false
false
false

MicrosoftInternetExplorer4

st1\:*{behavior:url(#ieooui) }

st1\:*{behavior:url(#ieooui) }

/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-parent:"";
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin:0in;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:10.0pt;
font-family:"Times New Roman";
mso-ansi-language:#0400;
mso-fareast-language:#0400;
mso-bidi-language:#0400;}

/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-parent:"";
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin:0in;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:10.0pt;
font-family:"Times New Roman";
mso-ansi-language:#0400;
mso-fareast-language:#0400;
mso-bidi-language:#0400;}

Normal
0

false
false
false

MicrosoftInternetExplorer4

Normal
0

false
false
false

MicrosoftInternetExplorer4

st1\:*{behavior:url(#ieooui) }

st1\:*{behavior:url(#ieooui) }

/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-parent:"";
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin:0in;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:10.0pt;
font-family:"Times New Roman";
mso-ansi-language:#0400;
mso-fareast-language:#0400;
mso-bidi-language:#0400;}

/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-parent:"";
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin:0in;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:10.0pt;
font-family:"Times New Roman";
mso-ansi-language:#0400;
mso-fareast-language:#0400;
mso-bidi-language:#0400;}

Washington, D.C., October 22, 2008 – Despite the best efforts of the
nation’s largest taxpayer group, Congress passed a $700 billion bailout of the
financial industry – but that doesn’t mean the battle against big government is
lost, according to the 362,000-member National Taxpayers Union (NTU). Today NTU
and the Competitive Enterprise Institute (CEI)
have together launched www.BeyondBailouts.org, to
properly assess the government’s role in the country’s current financial
difficulties, establish some real policy solutions for those core problems, and
provide an outlet for visitors to petition elected officials.

NTU led the grassroots
campaign against the bailout, and, in conjunction with CEI, will continue the
fight to ensure that Washington
moves “beyond bailouts” toward more solid fiscal and regulatory policy.

“There’s been much
finger-pointing around Washington about who’s to blame – for both the
conditions that necessitated a rescue package and for allowing one of the
largest-ever government intrusions into the private sector to become law,” NTU
Government Affairs Manager Andrew Moylan said. “Beyond Bailouts seeks to move
past the blame game by learning from what went wrong, enacting policies to
address those mistakes, and enabling taxpayers to get involved and take control
of their hard-earned dollars.”

“The challenge now is to
learn from the mistakes causing the current crisis,” said Fred L. Smith, Jr.,
President of the Competitive Enterprise Institute. “Our confused regulatory
welfare system distorted the market, encouraging bright people to take risks
with our money.  ‘Profit-side capitalism’
combined with ‘loss-side Socialism’ – the so-called Third Way - must be ended.”

The Web site is structured to
answer three main questions: How did we get here? What do we do now? How can I
help? Among the reform recommendations:

  • Privatize
    Fannie Mae and Freddie Mac;
  • Prosecute
    Corrupt Officials;
  • Suspend
    Destructive Accounting Rules;
  • Repeal
    the Community Reinvestment Act;
    and
  • Clean
    Up the Tax Code.

NTU is a nonprofit,
nonpartisan organization working for lower taxes, smaller government, and
economic freedom at all levels. CEI is a nonprofit, nonpartisan public policy
group dedicated to the principles of free enterprise and limited government. Note: For more information, visit www.ntu.org, www.cei.org, or www.BeyondBailouts.org.