Political Quotes

Barney Frank: “Well, the gentleman is wrong about that because, yes, depositors are different than investors and depositors are…”

On the recordJune 9, 2010
Well, the gentleman is wrong about that because, yes, depositors are different than investors and depositors are insured, but we have deposit insurance. If you on the other side generally believe this, Mr. Speaker, they would provide deposit insurance and then bankruptcy. The gentleman's incorrectly answered the question. Deposit insurance takes care of the depositors, but there are other things that are done to try and reduce the cost to the government. So bankruptcy and deposit insurance has not been the method.
Said by
Barney Frank
Democratic · Massachusetts
Source
govinfo.gov
Jun 9, 2010

Editor's note · Context

The speaker is addressing the differences between depositors and investors in the context of deposit insurance and bankruptcy.

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