Political Quotes

“I was saying that we are in the midst of a regional crisis which could become a global crisis in very short order. Such are the speeds with which currency markets move at this time, such is the enormous amount of capital not controlled by governments. Such is the capacity already in evidence in our region to reconsider the whole degree of risk involved in these new economies. This week's ``The Economist'' speaks of this matter in no fewer than three separate pieces. I speak, sir, in support of the general outlines as they are understood presently of the agreements reached on a bipartisan basis between the Members of the Senate, the leadership in the House, the administration, and, of course, the Federal Reserve Board in the person of our distinguished chairman, Alan Greenspan. This morning, we met with Mr. Rubin, our Secretary of the Treasury, Mr. Greenspan, and Dr. Summers, who is the Treasury Undersecretary and is deeply involved in these matters. A number of persons mentioned the degree to which there was already a reaction in this country--on radio call-in shows and such like-- speaking in various degrees of censure and animosity about those in this Chamber and the other body who had supported the North American Free-Trade Agreement and now find themselves having to associate with this emergency action in a crisis atmosphere.”