Jeff Flake | Congressman Arizona’s Sixth District

Washington, D.C., Mar 24, 2009 - Republican Congressman Jeff Flake, who represents Arizona’s Sixth District, today panned the Obama Administration’s call for expanded power to seize private companies whose failure it believes would pose a systemic risk to the economy.

    “Many of us were not fans of the so-called Bush Doctrine of preemptive war,” said Flake. “This emerging Obama Doctrine of preemptive seizure is equally troubling. Any notion that private companies are better off with any administration, Republican or Democrat, at the controls should have been dispelled by now.”

    “Rather than seizing companies whose failure it believes would pose systemic risk to the economy, the federal government needs to make clear that there are no more bailouts forthcoming. When it does, the market will exert the necessary discipline.”