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Toomey Highlights Sestak’s Dogged Attempt to Run Away from His Bailout Record

Toomey Highlights Sestak’s Dogged Attempt to Run Away from His Bailout Record

Allentown – Today, former small business owner and U.S. Senate candidate Pat Toomey held a press conference highlighting Congressman Joe Sestak’s latest attempt to run away from his record of voting for every single bailout, including the bailouts of Fannie Mae and Freddie Mac, Wall Street, and the auto companies.

After months of supporting every bailout and opposing bipartisan efforts to end the Wall Street bailout, now, Congressman Sestak is trying to run away from his disastrous record two weeks before an election.

In stark contrast, Pat opposed all the bailouts from the very beginning.  In fact, he warned about the dangers of taxpayers having to foot the bill for Fannie Mae and Freddie Mac in his freshman year in Congress and cosponsored legislation to impose tougher regulations on Fannie and Freddie.

His cute dog notwithstanding, Sestak’s support for bailouts is irrefutable.  Please find a timeline of Sestak’s bailouts HERE. 

July 25, 2000: Pat Toomey warned about Fannie and Freddie growing too large (House Banking and Financial Services Committee Hearing, 07/25/00).

July 27, 2000: Pat Toomey cosponsored legislation to rein in Fannie and Freddie (The Housing Finance Regulatory Improvement Act, HR 3703).

June 24, 2003: Pat Toomey cosponsored legislation to impose new regulations on Fannie and Freddie (Secondary Mortgage Market Enterprises Regulatory Improvement Act, HR 2575).

May 2007: Sestak voted against new regulations on Fannie Mae and Freddie Mac (RC #383, 05/17/07).

July 23, 2008: Sestak voted to bail out Fannie Mae and Freddie Mac (RC #519, 07/23/08).

October 3, 2008: Sestak voted to bail out Wall Street (RC #681, 10/03/08).

October 2008: Sestak bought stock in Bank of America, one of the banks that received bailout money (Morning Call, 06/15/09).

December 10, 2008: Sestak voted to bail out the auto companies (RC #690, 12/10/08).

January 22, 2009: Sestak voted to release the second half of the Wall Street bailout money.  99 Democrats voted against a second Wall Street bailout (RC #27, 01/22/09).

March 5, 2009: Sestak sponsored legislation to force taxpayers to bail out other people’s mortgages (The Home Ownership Vesting Plan of 2009, HR 1356).

September 2009: Sestak opposed a bipartisan effort to end the Wall Street bailout (Press release, 09/26/09).

October 15, 2010: Sestak ran an ad claiming the bailouts “made him sick.”
“Congressman Joe Sestak has supported one bailout after another and opposed every effort to end the bailouts and now he wants us to believe that he hated voting for the bailouts because he has a cute dog in his ad,” Pat Toomey said.  “Well, as the saying goes: That dog won’t hunt.  For months, Congressman Sestak voted to make taxpayers pay for his bailouts and no amount of television ads can hide his record.”

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