Herman Cain, the former chief executive of Godfather’s Pizza, says that if were president, and major American banks were in financial trouble, he would “let them fail.”
Cain, who initially supported the Troubled Assets Relief Program in October 2008, tells NRO that his position on bank bailouts has evolved. “We were in this financial meltdown like I had never seen before in my business career,” he explains. “I don’t think the typical American understood just how dangerous that was, not only for this country, but for the world.”
“The concept of the government providing assistance to the banking system, to help them get their act back together, I did support,” Cain says. “What I didn’t support was how they implemented it, how they carried it out.”
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