Senate Challenger Josh Mandel: Washington “Created” The Financial Crisis

Josh Mandel. <a href="http://www.flickr.com/photos/joshmandelohio/7789763030/sizes/m/in/photostream/">Josh Mandel</a>/Flickr

Get your news from a source that’s not owned and controlled by oligarchs. Sign up for the free Mother Jones Daily.

Is Republican Senate candidate Josh Mandel of Ohio a bailout truther?

Mandel went on a Cleveland radio station Tuesday morning and suggested that the financial meltdown of 2008 was created by Washington politicians—not predatory mortgage lenders, lax regulators, incompetent ratings agencies, too-clever-by-half bankers, or delusional homeowners—seemingly as a way to pass the bank bailout.

Mandel’s interviewer with station WMMS remarks that the US “would be in real financial ruin if some of those banks were allowed to collapse.” But Mandel doesn’t buy it. He fires back: “This is what happens in Washington: These politicians, they create a crisis and then they come in and try to take credit for solving the crisis. And it’s exactly what’s wrong with Washington.”

Here’s the clip of Mandel’s remarks, provided by Democratic Sen. Sherrod Brown’s campaign, with a transcript to follow:

Transcript:

Host: Those banks, I mean, we would be in real financial ruin if some of those banks were allowed to collapse. You know, the credit markets were frozen. We were in a huge disaster. Now, I don’t like it. I don’t think anyone likes it. But to say that it was—look, we’re still here. We still have money in the bank. People can go in and get their checkings [sic] and get a check and use their debit card and that kinda stuff. That was a real possibility—that that may not happen if we didn’t do some of those things.

Mandel: You know, I think there were a lot of scare tactics used to pressure congressmen and senators to support [the financial bailout]. And this is what happens in Washington: These politicians, they create a crisis and then they come in and try to take credit for solving the crisis. And it’s exactly what’s wrong with Washington.

DEFEND THE TRUTH. DEFEND JOURNALISM.

“Lying.” “Disgusting.” “Scum.” “Slime.” “Corrupt.” “Enemy of the people.” Donald Trump has always made clear what he thinks of journalists. And it’s plain now that his administration intends to do everything it can to stop journalists from reporting things it doesn’t like—which is most things that are true.

We’ll say it loud and clear: At Mother Jones, no one gets to tell us what to publish or not publish, because no one owns our fiercely independent newsroom. But that also means we need to directly raise the resources it takes to keep our journalism alive. There’s only one way for that to happen, and it’s readers like you stepping up. Please do your part and help us reach our $150,000 membership goal by May 31.

payment methods

DEFEND THE TRUTH. DEFEND JOURNALISM.

“Lying.” “Disgusting.” “Scum.” “Slime.” “Corrupt.” “Enemy of the people.” Donald Trump has always made clear what he thinks of journalists. And it’s plain now that his administration intends to do everything it can to stop journalists from reporting things it doesn’t like—which is most things that are true.

We’ll say it loud and clear: At Mother Jones, no one gets to tell us what to publish or not publish, because no one owns our fiercely independent newsroom. But that also means we need to directly raise the resources it takes to keep our journalism alive. There’s only one way for that to happen, and it’s readers like you stepping up. Please do your part and help us reach our $150,000 membership goal by May 31.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate