At some point, it no longer becomes an investment. It becomes--you know, they are on life support.
Mike Capuano
The Public Record
Mike Capuano is a former U.S. Representative from Massachusetts, serving from 1999 to 2019. A member of the Democratic Party, he represented Massachusetts's 8th congressional district. During his tenure, Capuano was known for his advocacy on issues such as healthcare, education, and civil rights. He served on several committees, including the Transportation and Infrastructure Committee, where he focused on infrastructure development and public transportation improvements in his district.
At some point, if it is 40 percent--when does it make sense to either go to 51 percent--and I know the word nationalization nobody wants to talk about.
We had bad news--the taxpayers overpaid, by $78 billion, for some of these instruments.
The risk appetite here on the Hill, given the way we have seen this top handled so far, is very, very low.
I voted against the TARP and I have not had a moment when I have regretted that decision.
Do you understand that this is a little difficult for most of my constituents to take that you learned your lesson?
I think they are illegal. I cannot believe no one has prosecuted you on this.
But basically you come to us today on your bicycles after buying Girl Scout cookies and helping out Mother Teresa, telling us, we're sorry. We didn't mean it. We won't do it again. Trust us. America doesn't trust you anymore.
Start loaning the money that we gave you. Get it on the street. And don't say, oh, well, we're not using that money for bonuses. Come on.
But basically you come to us today on your bicycles after buying Girl Scout cookies and helping out Mother Teresa, telling us, 'We're sorry. We didn't mean it. We won't do it again. Trust us.' America doesn't trust you anymore.
I happen to think that is a good thing. But if they can be required to do that, why can they not be or why should they not be required to do things like tell us what they have done with the billions and billions of dollars that we have…
I am not interested in private investors making money on the backs of taxpayers.
I have a really hard time trusting the private market, who actually valued, I assume it is not new people who came in in the last 5 months.
I would much prefer you do, and the reason is, obviously, I believe all you have said thus far.
I understand what the law says, but I also have absolute and total faith in your ability to go around any law that is clear and unequivocal.
I voted for the TARP. I am happy I did. I am not happy with everything that has happened with it.
Wouldn't my taxpayers be better served... by having somebody who might understand that maybe they shouldn't be buying jets?
I will never vote to give anybody another blank check. It won't happen, ever.
I understand, but why would you think that, after having been through what we have been through, that I or anyone in their right mind would want to say, you don't ever have to come back to us again.





