Bachmann slams Fannie, Freddie, European bailouts

Bachmann slams Fannie, Freddie, European bailouts Click to Enlarge Photo:

Nov 10, 2011 at 9:55 am

ROCHESTER, Mich. (AP) - Republican presidential rivals agreed Wednesday night that Europe's countries should rise or fall on their own without any American bailout.

They also warned that failing to cut budget deficits at home would doom the U.S. to the same sort debt spiral that now plagues Greece and Italy.

Minnesota Congresswoman Michelle Bachmann joined the seven other GOP presidential contenders in vowing not to support any U.S. bailouts for troubled European banks. She also sharply criticized the mortgage agencies Fannie Mae and Freddie Mac for paying their executives multimillion-dollar bonuses while they were seeking more federal money.

Wednesday night's debate at Oakland University outside Detroit, Michigan takes place less than two months before Iowa's kickoff caucuses.

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