Thread: Conservatives craft bill to prevent IMF bailout of crumbling

Conservatives craft bill to prevent IMF bailout of crumbling eurozone
By Alexander Bolton - 12/02/11 06:00 AM ET

Conservatives say they will try to block the International Monetary Fund from bailing out Italy and Spain, which they say could leave U.S. taxpayers with a huge bill.

Republicans on both sides of the Capitol complain that the Obama administration has refused to share details of what Treasury Secretary Timothy Geithner is discussing with European leaders amid reports the IMF could intervene.

Sen. Tom Coburn (R-Okla.) says he is planning legislation directing the U.S. government to veto an expanded role for the fund.

Senate Republican Steering Committee Chairman Jim DeMint (R-S.C.) and Rep. Cathy McMorris Rodgers (Wash.), a member of the House Republican leadership, also have legislation to curb the proposed intervention.

“I’m adamantly against the IMF being involved in this,â€

There is nothing like pouring good money after bad. The European Socialists will burn through any money they receive and want more.

Europe chose this path of Socialism, they should pay for it.

The events in Greece are OWS on steroids. These people are opposing the very measures need to rein in spending and avert default on the one hand and restructuring the way money is spent on the other. Europe will default and the Euro will collapse. People retire in Greece at age 52 and receive a pension , not the social security check we have here. Imagine every single person in the country getting the same pensions public sector workers get. This is their problem and they are refusing to address it. This is a band aid on a mortal wound.
We will lose money it is a fact. Our Government has to print money to prop them up , we have no money to give them any other way. Once we start it will be hard to stop and we could be on the hook for trillions. Not much said about the Fed already dispensing over 7 trillion to banks , a majority of them Foreign banks , Most of the Media focused on the mere 800 billion given through tarp. The real truth is much worse already.

When will it be enough?