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Foreign Banks Win $108 Billion Bailout in War Spending Bill

06/17/09

 

(WASHINGTON, DC) – Foreign banks will be guaranteed up to $108 billion in U.S. taxpayer bailouts from a spending bill intended to support American troops in Iraq and Afghanistan, as a result of Democrat amendments to the Supplemental War Spending bill that passed the House last night by a largely partisan 226-202 margin. 32 Democrats joined 170 Republicans in opposing the bill. Only 5 Republicans voted for the bill. 

"In my seven years in Congress, this is the only time I have voted against a war spending bill," says Carter, "and the irony is that in this case a ‘no’ vote was a vote for the troops. To give $108 billion dollars of funds for our soldiers to foreign banks, including Iran and Venezuela, is in direct opposition to the best interests of American fighting forces for which this spending bill was intended. This bill makes a mockery of that original intent."

Foreign Banks Win $108 Billion in U.S. Taxpayer Bailouts from Funds Intended for American Troops