Of course, anyone who knows Bristol understands that the charge is ludicrous. Bristol doesn't have anything to bail out with billions. Millions maybe, but billions? Never.
What happened is that Limbaugh relied on a badly written news story somewhere that lumped Bristol in with those who got bailouts because its pension fund had invested some money in a program to help kick start the economy back when credit had dried up.
The investment in a tiny way helped get the economy moving again during the worst days of the recession and wound up making a profit.
But it was peanuts in the scheme of things.
T.J. Barnes, the city GOP chair and pension guru, said that Bristol didn't get a single dollar in bailout money.
Barnes said that Limbaugh, who apparently repeated his charge a few times during his three hour show, was simply wrong.
He said he tried to call in to let the guy know, but couldn't get through.
I don't even want to begin trying to explain the financial ins and outs of what the pension fund did. Just know that it made a little money and is still among the nation's best funded plans.
So, Rush, if you're seeing this... you should check the facts. You blew it, big guy.
*****
Copyright 2010. All rights reserved. Contact Steve Collins at scollins@bristolpress.com
31 comments:
Who cares? It's about the bailouts in general Steve, not who received them.
Get a life.
Pension guru or arbitrator of hand-outs to political pals?
Steve,
I know I appreciate your work.
Thanks for the quick fact check.
Once again the extremists got it wrong.
While I question the bailouts in general, Rush should be fact checking. It's clear he doesn't.
Keep your life, it's a pretty good one, heh?
It wont be long before BRISTOL needs a bail out.
Steve,
Your first line states you didn't listen to the show. Why would you then comment on something you did not hear yourself. Love ya Steve but this was very irresponsible of you. Aren't reporters supposed to do their homework?
4:31 -- I know nothing about Malloy considering a sales tax on newspapers. Next time I see him, I'll ask him about it.
7:30 - Many of Rush's listeners have posted in many places that Bristol got bailout money. Like some city officials, I thought it was important to say somewhere that Rush was totally wrong.
Rush, getting something wrong. Who'd have thought? Of course the majority of his listeners take what he says as gospel and have no intention of letting a little thing like the facts get in the way.
I thinh the press reporter should dig a bit deeper.Federal dollars were made available and the oppertunity was taken. Rush did not get it wrong!
Collins:
Try reading the last Sunday's Editorial in the paper you work for.
http://www.bristolpress.com/articles/2010/11/30/opinion/doc4cf5bbbc33d9a625992552.txt
Hey Stephen ..... "IF" you thought that the truth was important , you would have NEVER posted such an absurd LIE !!!! Rush simply mentioned that Bristol Ct. received PART of the BILLIONS being wasted in the bailouts. btw .... wasted is MY opinion because it was actually a payoff to the unions that own Bristols "leaders".
Bristol did not get any bailout money. It actually invested pension money into a federally created program to help spur a revival of the nation's credit markets.
Taxpayers in Bristol MADE MONEY on the investment.
Steve:
You couldn't get through a basic college math course.
You obviously know nothing about fiscal matters. Go report on something like the next X-Mas breakfast at the Legion or something.
This is a non-story made up by a liberal hack who just hates Rush and talk radio in general.
1:53 - I bailed on math after calculus. That was enough.
You are, on the other hand, completely clueless.
yeah right, you "bailed" math after pre-algebra...that's why you're a reporter working for a second rate rag.
Hey 2:08 -- Nope, it was calculus. But I readily admit that most of that higher math means zippo to me now.
Collins:
Did you read your own paper's Editorial from last Sunday yet...where they opine on the fact that Malloy had stated he's considering a sales tax on newspapers...you ding-bat?
6:34 - it is evident that you are not able to spell as well as you would like us to "thinh."
Steve...the fact is the Fed gave Bristol $3 for every $1 we put up. Whether we made money on the investment or not (we did) is not the point. I know your are numerically challenged, but for every $100,000 of Bristol Taxpayer money the Feds put up $300,000. Any way you look at it: THE FEDSD GAVE BRISTOL MONEY DURING THIS ERA OF OBAMA BAILOUTS!!!!
We did what we had to do and made money for the taxpayer in this town so it was a good investment move on
Lest we want to end up like the poor folks in Rio Linda, I suggest we don't antagonize the king of the dittoheads otherwise Bristol will become a victim to Limbaugh's pointed attacks on those he chooses to be made an example of.
if you had any clue, or wanted to seek the truth #1 you'd actually LISTEN to Rush to see what he actually said (he made NO mention of any amount of money connected with Bristol, SEE the transcript on his website, it's on the free side) #2 this information was from an article on Bloomberg Businessweek
http://www.businessweek.com/ap/financialnews/D9JRCDDO3.htm (search Bristol, and you'll find almost word for word what Rush said)
so, if you have done your research, and if you're right that Bristol got no $$ from the Fed... then it's Bloomberg Businessweek that is wrong, Rush was just quoting them.
Or maybe it was just a typo - millions / billions...
Just joking. Steve, you should listen to something you want to comment.
Keep looking down that narrow tunnel and being blissfully unaware of the bigger problem: we're going broke!!!
Collins:
"Tax payers made money" on the city's investment? You really are a Marxist aren't you?
I only consider making money on an investment if I receive dividends. I have no control over how the money the city "makes" is spent. Profits most likely go to paying for costly, bloated government.
How dare you tell us we "made money". YOU should resign or get a job writing propaganda for Hugo Chavez.
I am a Marxist, and I take offense to your erroneous charge that Steve is a member of our band of comrades. He is simply a wishy-washy moderate. THAT'S why none of us Marxists/Nazis like him. He just can't seem to decide. Nothing on his blog is biased, for God's sake. This is ridiculous! Even though I disagree with the Fascists writing on this blog, I understand their point of view. Steve, you can't just continue reporting unbiased facts: take a side, dammit.
Who are all you people?! Do you all even live here?
Hey 11:33 I guess you must be an eletist or a communist then?
December 5, 2010 11:41 AM:
I don't find your little attept at mocking me funny at all. I sincerely do take offense at your insinuation that I am a Nazi or anyone who is in opposition of what is clearly a socialist/ neo-Marxist train of thought is a Nazi. Actually Nazis were "National Socialists" but some communist regimes were arguably as bad. The fact that Marx wrote the Communist Manifesto and was the father of socialism should not be mistaken for support of a depotic communist regime or a dictatorship. Just like those who take stand against creeping socialism in the in the name of the principles of free-enterprise, capitalism, and individual freedom should never be labeled "Nazis". It's actually quite ignarant to do so. But I guess that's you.
Hey December 6, 2010 7:22 PM...
Not sure what an "eletist" is, so I can't answer your question. As for the rest, look up "sarcasm" in the dictionary. It should prove illuminating.
Can't take your own trash talk? You're no different than your republican friends on here. Nothing but a big mouth cry baby bully like your republican friends. The only difference is that we know your name.
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