Jeff Flake: “I have one piece of concern about the legislation that I wanted to air here. The bailout, or the $5 billion portion, is…”

“I have one piece of concern about the legislation that I wanted to air here. The bailout, or the $5 billion portion, is given on the basis of formula, which is fine, as it should be. However, the next portion, the loan guarantees, will be distributed based not on a formula, but where a governmental entity or a group of individuals will simply pick winners and losers: you have more cash flow than the other guy. You have a bigger asset base than the other guy. You win; you lose. I hope that as this goes forward, if this legislation passes, that we are vigilant here in ensuring that those who dole out that money do so in an equitable basis and do not try to pick winners and losers in the economy.”