Matt Bevin Responds to Accusations of His Alleged Support of the TARP Bailout

Posted by on February 11, 2014

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Matt Bevin, Conservative candidate for U.S. Senate in Kentucky is the primary challenger to five-term Senator Mitch McConnell. He is starting to gain national attention because of his campaign’s recent momentum swing. His campaign has been endorsed by several key conservative and Tea Party organizations as well as some very prominent liberty-minded individuals.

A story from Politico came out on Tuesday that alleged Matt Bevin once supported the $700 billion Troubled Asset Relief Program (TARP) and the government takeover of Fannie Mae and Freddie Mac. He allegedly signed off on a memo back in 2008 supporting the government’s decision. Now his opponents and others are wanting to know where he stands on this. He has consistently targeted McConnell and criticized him for his support of government bailouts.

“I didn’t actually write that letter. My position has always been the same,” Bevin said during a radio interview with Glenn Beck.

Here is the report from Politico:

“Most of the positive developments have been government led, such as the effective nationalization of Fannie Mae and Freddie Mac, the passage of the $700 billion TARP (don’t call it a bailout) and the Federal Reserve’s intention to invest in commercial paper. These moves should help to stabilize asset prices and help to ease liquidity constraints in the financial system.”

Matt Bevin appeared on the Glenn Beck radio show on Tuesday to respond to these accusations.

From TheBlaze:

Bevin, who worked as an investment fund president in 2008, admitted he signed off on the memo written by Daniel Bandi, chief investment officer and vice president of the fund, that offered praise for TARP.

“I was as president and chairman of the board required by law to verify the veracity of the financial figures, the assets under management, the number of outstanding shares, et cetera,” he said.

Bevin, who is hoping to oust Senate Minority Leader Mitch McConnell in Kentucky’s Senate Republican primary, said it would have been unlawful for him to adjust the wording of the memo, saying he had nothing to do with its drafting.

“I was not approving of anyone else’s opinions,” Bevin said.

“That letter? I did not write. I did not write any of the letters that were ever published as investment commentary,” he continued. “I was the president and chairman of the board and by SEC law, was required to sign prospectuses when they were sent out.”

Matt Bevin did not and does not support TARP or the government bailouts. This report is from Politico, who is an establishment publication protecting certain individuals such as Mitch McConnell. The McConnell campaign has consistently tried to falsely attack Matt Bevin because they have nothing on him. They have not been able to defend Mitch McConnell’s poor record as a U.S. Senator and this only proves to be yet again, another attempt to slow down the momentum of the Bevin campaign.

Matt Bevin is a true conservative and a great American who has thrown himself into the fire. He knew he would face a constant barrage of attacks from Mitch McConnell because that is what Mitch does and the McConnell campaign is sticking to that mud-slinging principle. They cannot defend the record of Mitch McConnell. Jesse Benton, McConnell’s campaign manager continues to hold his nose as he tries to turn this into another dig at Matt Bevin. You do not see or hear him touting out McConnell’s record or praising him for all the great things he has supposedly done to deserve re-election because he can’t. He is forced to make up rumor after rumor about Bevin in order to take the focus off of Mitch McConnell’s failed leadership.


These old political tactics will simply not work anymore. Kentuckians are seeing through Mitch McConnell and they are fed up with him in Washington. The recently released Rasmussen poll confirms this as well. McConnell is dead even with the Democrat opponent Alison Lundergan Grimes, but Matt Bevin leads her by six points. Mitch McConnell is more unpopular in Kentucky than President Obama. Remember that Obama lost Kentucky by 23 points and 116 of 120 counties in 2012. Kentuckians no longer want Mitch McConnell representing them because he stopped doing so many years ago.

Mitch McConnell is not a conservative. He isn’t who he and his campaign claims he is either. He is a man who went to Washington decades ago and lost touch with why he was sent there in the first place. Mitch McConnell has voted repeatedly to increase the debt limit. Over the past 16 years, Sen. McConnell has voted to increase the debt limit 9 times for a grand total of $6.7 trillion. Mitch continuously votes for larger federal government, including No Child Left Behind, Medicare Part D, and the 2007 energy bill that raised taxes and imposed new mandates on automakers. Mitch McConnell voted to bail out the big Wall Street banks and Fannie Mae and Freddie Mac on the backs of Kentucky taxpayers. Mitch McConnell voted for amnesty in 1986 & 2006. Mitch’s lack of leadership allowed another amnesty bill to sail through the U.S. Senate in 2013.

The McConnell campaign has the support of the Republican establishment, but the Republican establishment should support Matt Bevin if they would like to keep this Senate seat. Mitch McConnell can not beat Alison Lundergan Grimes, but Matt Bevin certainly can. It’s time the GOP wakes up to this if they truly do care about winning. It’s not about keeping an incumbent happy because he has served for nearly 30 years, it’s about America. It’s time we stand up for our principles and stop voting for the people who no longer represent our values. It’s time we change the direction of our party and the direction of our country by supporting Matt Bevin in Kentucky.

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J Craig

Editor-in-Chief at ANM News
J Craig is the founder & Editor-in-chief of ANM News. He is a passionate, patriotic citizen who believes in individual liberty, fiscal conservatism, personal responsibility, and limited government. J is also a contributor for and The Liberty Eagle.