Meet Jim Bunning, Mr. No Bailout

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A couple of you noticed that one United States senator -- baseball Hall of Famer Jim Bunning, a Kentucky Republican -- voted ‘no’ on the housing bill that includes big tax breaks for home builders.

This prompted praise in the comment section for the hard-throwing conservative from Kentucky.

Firesale wrote:

’94 to 1 Senate vote for a Bailout.
I guess that solves it.

BUNNING FOR PRESIDENT!’

Later, ‘J’ wrote:

‘Firesale, I agree with you. I sent Bunning an email yesterday telling him how impressed I was with him standing up and doing the right thing. I also told him how I am a lifelong democrat who is fed up and willing to change teams over this.’

Bunning (pictured) didn’t go looking for publicity on this. He did not make a speech on the Senate floor opposing the housing bill and did not put out a press release. Earlier this year he cast doubts on the idea of government purchases of mortgages, saying, ‘I am concerned that further government action will expose taxpayers to excess risk or be a bailout.’

His comments yesterday on the Bear Stearns bailout are also worth noting. The preferred narrative in Washington at the moment is that the collapse of Bear Stearns was a freak, unforeseen, rumor- and panic-driven ‘run on the bank’ that forced the Fed’s hand in the middle of the night. Bunning, at yesterday’s Senate hearing, wasn’t buying it: He accused the Fed of ‘ignoring repeated red flags in the run-up to Bear’s failure.’

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Photo Credit: Office of Sen. Jim Bunning