Video: Gregg instructs Orszag on TARP

Ownage:



(That disembodied voice that at the end came from socialist Sen. Sanders of Vermont.)

Union Leader.com:

"No! No! No!" he yelled out. "You can't make that type of statement with any legitimacy. You cannot make that statement."

Gregg then held up a guideline for the TARP, which he helped write in 2008 to keep the country from further economic collapse.

"This is the law," he said. "Let me tell you what the law says. Let me read to you again because you don't appear to understand the law. The law is very clear. The monies recouped from the TARP shall be paid into the general fund of the Treasury for the reduction of the public debt. It's not for a piggy bank because you're concerned about lending to small businesses and you want to get a political event when you go out and make a speech in Nashua, N.H."

Gregg accused Orszag and Obama of passing on debt to generations of Americans and having an abashed sidestepping of the TARP law. "And," he said, "you ought to at least have the integrity to be forthright about it."

Under further questioning from Gregg, Orszag said the administration would be seeking congressional approval.

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