MADISON — In his first extended interview since being endorsed by the Republican Party of Wisconsin, multimillionaire Tea Party activist Ron Johnson endorsed Russ Feingold’s opposition to the Wall Street bailouts, telling WISN’s Mike Gousha, “He [Russ Feingold] was right on that issue.”
“When Ron Johnson was forced to move beyond his empty slogans, he actually had to admit Russ Feingold was right to oppose to the Wall Street bailouts,” said Mike Tate, Chairman of the Democratic Party of Wisconsin. “But like Johnson himself, his positions on a deregulating Wall Street in the 1990s and the recently passed financial regulation legislation remain unknown.”
Feingold voted against deregulating big banks in the 1990s and against the Wall Street bailouts in 2008 and 2009. In addition his Control Spending Now Act would put an end to funding for the Wall Street bailout. Feingold voted against the financial reform bill because it failed to reform Wall Street by protecting firms deemed “too big to fail” and failed to reenact the proven safeguards established after the Great Depression that separated Main Street banks from big Wall Street firms. These reforms are essential to preventing another economic meltdown.