Phil Gingrey: “Yes, a tranche, I am learning all kinds of things as we get into this. I guess a tranche is a slice, it's a portion, if…”

“Yes, a tranche, I am learning all kinds of things as we get into this. I guess a tranche is a slice, it's a portion, if you divide something up. Of course, we divided this pie in equal slices of $350 billion. We have already spent $350 billion, and it was targeted toward certain, well, we know, of course, General Motors and Chrysler and GMAC. Indeed, we even made a bank out of them so that they could qualify for the money. It is a bizarro world, and Ranking Member Spencer Bachus, the gentleman from Alabama, said last night at the Rules Committee hearing on this bill, he said, you know, it used to be, in this country, that banks lent money to people. Now, all of a sudden, the people are being asked to lend money to the banks to bail the banks out.”