Senator Christopher J. Dodd (chairman of the Senate banking committee, D-Connecticut) lays down the law in this clip.  This talking point is a recap of what he said.

RESPONSE:

This bill ENDS bailouts. There is no bailout provision in this bill.

FOLLOW-UP:

1. It imposes TOUGHER STANDARDS on large Wall Street firms.
2. Eliminates the Federal Government’s capacity to bailout individual companies
3. Write their own liquidation plans, and make them pay for the liquidation (if needed).
4. President George W. Bush (a Republican, if my memory serves me right) signed this bill into law, not President Obama.

UNCOVERS:

The trick-or-treat Republicans are trying to scare the American people again.

When you hear Republican Senators talking about bailouts, remind them by looking up their voting records (links below), as well as the profits the Government made on those bailouts (links below).

SIDE POINTS:

H.R. 1424: Emergency Economic Stabilization Act of 2008

Signed by: President George W. Bush (Oct 3, 2008)

Which Senators voted NO on Oct 1, 2008?

Allard (R)
Barasso  (R)
Brownback  (R)
Bunning (R)
Cantwell (D)
Cochran (R)
Crapo (R)
DeMint (R)
Dole (R)
Dorgan (D)
Enzi (R)
Feingold (D)
Inhofe (R)
Johnson (D)
Landrieu (D)
Nelson (FL) (D)
Roberts (R)
Sanders (I)
Sessions (R)
Shelby (R)
Stabenow (D)
Tester (D)
Vitter (R)
Wicker (R)
Wyden (D)

LINKS:

• Gov’t will sell Citi stock, reap bailout profits
• GovTrack- HR-1424 Emergency Economic Stabilization Act of 2008
• Senate Votes
• House Votes
• GovTrack on H.R. 4173 Wall Street Reform and Consumer Protection Act of 2009
• Text of H.R. 4173- Open Congress