Ted Stevens
The Public Record
It would be my intention to call witnesses to justify the request of the President of the United States, and no one else.
I'm told that, of the past 10 years, nine of the 108 Title XI loan guarantees have defaulted.
I'm very much interested in this program, because living where I do, in an offshore state, we are subject to the Jones Act.
I, again, want to say, without this program, I don't think Alaskan trade could survive, so I have a deep interest in its preservation.
I'm further informed that because of this recent bankruptcy added to it, the AMCV, that the total now is $330 million in losses.
This is not a business without great financial risk, and I am worried about what happens to processors under this proposal.
The State of Alaska supports implementation of the Crab Rationalization Program as approved by the Council in 2002.





