Libertarian National Committee Region 7

Friday, October 3, 2008




Contact: Rob Oates, Chair October 3, 2008

Phone: 880-7319



The Libertarian Party of Idaho denounces the Wall Street Bailout and the illegal procedures used in its passage. The $700 billion bailout is a direct attack on our free enterprise system. “Sadly, this will likely make matters worse,” according to Party Chair Rob Oates, Caldwell, “Congress has no legal authority with which to spend even $1 for this kind of activity.” True leadership is not just doing something, but knowing the right thing to do.

Senator Larry Craig (R-ID) and Representative Mike Simpson (R-ID2) both exercised reckless disregard for their oaths of office to support and defend the US Constitution by voting for this measure. Reading the bailout bill reveals that the US Senate took a House approved spending bill which the Senate was holding and ‘amended’ it by deleting everything but the number and title and replacing it with the failed House bailout bill plus enough pork provisions to buy the needed House votes for approval. “Article 1, Section 7 of the Constitution is very clear. All spending bills must originate in the House. This is beyond immoral and should be a criminal matter,” Oates said, “Craig and Simpson should be held accountable for violating the Supreme Law of the Land.”

More appropriate action would address the underlying government rules requiring financial institutions to approve loans to borrowers with poor credit ratings and arbitrary mark-to-market accounting rules. “The bailout allows poorly performing financial institutions to remain in business,” Oates said. Absent more government interference, markets can resolve these problems on their own.


Libertarian Party of Florida Officially Opposes Bailout

Contact: Karl Dickey, Chairman
561-237-5586 /
September 28, 2008
For Immediate Release


Libertarian Party of Florida Officially Opposes Bailout

Winter Park, Florida - The Libertarian Party of Florida (LPF) has passed a resolution against the federal government bailing out financial institutions.

The resolution reads as follows: "Whereas the Libertarian Party of Florida recognizes that the current plan to bail out the financial institutions from the bad loans that they were forced to make by pressures from Congress and liberal organizations will damage the U. S. economy; and whereas it is clearly evident that the pressure groups knew in advance that the financial institutions would eventually fail, and that the public would be forced to foot the bill for the loans that should never have been approved. The Libertarian Party of Florida now condemns the plan of Congress and Executive Branch of the U. S. Government to use taxpayer money to bail out the financial institutions".

Libertarian Party of Florida chairman, Karl Dickey, said this morning, “We realize the dire consequences if Congress chooses not to act during this time of crises, however we also fully understand if the bailout does pass the dire consequences will be multiplied. This Congressional action only delays the inevitable and in fact makes our economic situation much worse for the long term. We should take our medicine today no matter how painful that may be, in order to prevent an economic catastrophe this country has never seen. Although there is much blame to be spread around, it is clear the disastrous choices made by our government many years ago is coming to a tragic end. Had our leaders not violated their oaths by voting against our Constitution and libertarian principles, we would not be in this situation today. This is not the result of a free market going awry as sadly we do not have a free market in this country and haven't for many decades.”

The Libertarian Party of Florida believes we should have a small government at all levels and abhor the huge spending we see today by our elected officials. The Libertarian Party of Florida believes a free and competitive market will allocate resources in the most efficient manner. Each person has the right to offer goods and services to others on the free market without any interference from government officials. The only proper role of government in the economic realm is to protect property rights, adjudicate disputes, and provide a legal framework in which voluntary trade is protected. All efforts by government to redistribute wealth, or to control or manage trade, are improper in a free society.