© 2023 Louisville Public Media

Public Files:
89.3 WFPL · 90.5 WUOL-FM · 91.9 WFPK

For assistance accessing our public files, please contact info@lpm.org or call 502-814-6500
89.3 WFPL News | 90.5 WUOL Classical 91.9 WFPK Music | KyCIR Investigations
Play Live Radio
Next Up:
Available On Air Stations
Stream: News Music Classical

Bunning Calls Bailout Plan "Un-American"

The proposal by the U.S. Treasury Department to rescue the country's financial industry is drawing sharp criticism from Kentucky's junior U.S. Senator.Senator Jim Bunning calls the $700 billion bailout plan "un-American" and says it would replace the free market system with socialism.The Republican says he doesn't buy the argument that the country would plunge into a recession without the rescue. He says government and industry leaders should sit down and hammer out a big picture response to the lending crisis."A new business model that would say you can't lend money to people who don't have a down payment or you can't lend $400,000 to someone who can only afford to pay for a $200,000 loan," Bunning told reporters Tuesday morning.Bunning is a member of the Senate Banking Committee, which began hearing testimony on the bailout plan Tuesday.

Rick Howlett is host of WFPL's weekly talk show, "In Conversation." Email Rick at rhowlett@lpm.org.

Can we count on your support?

Louisville Public Media depends on donations from members – readers like you – for the majority of our funding. You can help make the next story possible with a donation of $10 or $20. We'll put your gift to work providing news and music for our diverse community.