SEN. BOB CORKER (R-TN) TELLS THE TRUTH

Fishboy McConnell lied about the finance reform bill but for Corker, that's one lie too many.

Sen. Corker Refutes Right-Wing Talking Point: The Resolution Fund Is ‘Anything But A Bailout’

Today on the Senate floor, Sen. Bob Corker (R-TN) debunked his conservative colleagues’ talking point, saying that the fund “is anything but a bailout”:

CORKER: But this fund that’s been set up is anything but a bailout. It’s been set up to, in essence, provide upfront funding by the industry so that when these companies are seized, there’s money available to make payroll and to wind it down while the pieces are being sold off. Now, a lot of people have said this is a Republican idea. There’s no question that this is something Sheila Bair has proposed. The FDIC wants to see a prefund. The Treasury would like to see a postfund.