Barney Frank: “So this amendment would say to AIG and General Motors and Chrysler and Ally, the financial company, no one will now be…”

“So this amendment would say to AIG and General Motors and Chrysler and Ally, the financial company, no one will now be supervising what you do. And even though you haven't yet paid back the Federal Government, there will be no enforcement of restrictions on your bonuses, no enforcement of restrictions on your compensation. I should note, by the way, in the condemnation of these czar positions, one of the ones that's now vacant that they'd bravely get rid of is the senior advisor on the auto industry. That's one of the great successes of the Bush-Obama administration and transition. I would tell the gentlewoman that she should work it out with the gentleman from Texas and then come up with a joint answer. But I want to make my other point. One of the czars they are complaining about presided over a Bush-Obama transition policy that kept General Motors and Chrysler alive. We have auto industries flourishing in America and suppliers today.”