-Jack Conway, “Fox News Sunday,” Oct. 3, 2010
· Conway Failed To Give A Clear Answer On Whether He Would Have Supported The TARP Bailout Plan. BOARD: “If you had been in the Senate in 2008, how would you have voted on the bailout?” CONWAY: “I would have requested that we take our time. I am always leery when, suddenly, a group comes and says ‘Oh my gosh, everything is melting down, we’ve got to have a bailout right now.’ And I certainly don’t think we need any more bailouts. You know, it was a time when the financial markets looked like they were just crumbling - about to go over the cliff. AIG, for example, so pervasive in our economy, that if they had gone under, who knows the larger effects on the economy? It was such a blank check, and such a blank check, without adequate pieces of the law for treasury to follow up and make certain there wasn’t excessive compensation. I would like to think, if I were convinced, if I were convinced - and I wasn’t there - but if I were convinced that this had to be done, or else the economy was going to go completely over the cliff and we were going to have a deep, deep, deep depression rather than an incredibly severe recession, that I would have stood up and tried to save the economy. That would have been my guidepost. My concern is, it was just done so quickly, and we threw money at the problem, and we didn’t have any strings attached. And when you see folks come along and get bonuses- and some of the money has been paid back. . . . I would like to think, that if I had been there studying it, even though there was some political peril in taking the vote, that I would have done the courageous thing to make certain the economy doesn’t go off the cliff.” (Jack Conway Interview With The Courier-Journal Editorial Board, www.courier-journal.com, April 12, 2010)
· Conway’s Concern With The TARP Bailouts Was That It Was A “Blank Check” And That “It Was Just Done So Quickly, And We Threw Money At The Problem, And We Didn’t Have Any Strings Attached.” CONWAY: “It [TARP] was such a blank check, and such a blank check, without adequate pieces of the law for treasury to follow up and make certain there wasn’t excessive compensation. I would like to think, if I were convinced, if I were convinced - and I wasn’t there - but if I were convinced that this had to be done, or else the economy was going to go completely over the cliff and we were going to have a deep, deep, deep depression rather than an incredibly severe recession, that I would have stood up and tried to save the economy. That would have been my guidepost. My concern is, it was just done so quickly, and we threw money at the problem, and we didn’t have any strings attached. And when you see folks come along and get bonuses- and some of the money has been paid back. . . .” (Jack Conway Interview With The Courier-Journal Editorial Board, www.courier-journal.com, April 12, 2010)
· Conway Claimed That The TARP Program Worked, “In Some Respects.” BOARD: “Do you think it [TARP] worked?” CONWAY: “In some respects. I don’t know that it’s easy to say that’s a yes or no answer. It worked in some regards, I think the stock market kind of stopped its - kind of put the brakes on the panic. It got some capital flowing into big banks that were going under. I’m concerned that we haven’t learned all of our lessons. . . . It worked in some respects, in others, we didn’t put enough strings on the people who were getting the money.” (Jack Conway Interview With The Courier-Journal Editorial Board, www.courier-journal.com, April 12, 2010)
· Conway Stated His Support For The Bailout Of Automakers. BOARD: “Would you have favored the auto bailout?” CONWAY: “Well it was done with the bailout money, I believe, through the TARP funds, actually. It wasn’t a second vote. Given that it was done with the TARP funds and given that we have such a strong auto presence here with GM, particularly in Bowling Green, I favor the way it was done.” (Jack Conway Interview With The Courier-Journal Editorial Board, www.courier-journal.com, April 12, 2010)
· Conway Promised “No More Bailout Or Bonuses” During The Democratic Primary. “From health care to deficits, candidates for the U.S. Senate staked out their positions during a forum Sunday in western Louisville. . . . ‘People are hurting,’ emphasized state Attorney General Jack Conway, a Democrat, vowing to ‘end offshore tax savings,’ promising ‘no more bailouts and bonuses.’” (The [Louisville, KY] Courier-Journal, “U.S. Senate Hopefuls Speak Out At Forum,” Andrew Adler, March 15, 2010)
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