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As the Federal Reserve scrambles to extend taxpayer guarantees to reckless Wall Street lenders, Kentucky's Sen. Jim Bunning is nailing the issue in hearings today.
Another bailout of a bank like Bear Stearns by the Federal Reserve "must not happen again," said Sen. Jim Bunning, R-Ky., at a hearing Thursday. "I do not like the idea of the Fed getting involved," Bunning told Federal Reserve Chairman Ben Bernanke and others. "That is socialism."
Sen. Bunning was also the only vote this week against moving forward on a new Senate housing bailout package.