Political Quotes

John Sarbanes: “In other words, the institutions, they are only being included in the sense that they are eligible to submit their…”

On the recordMarch 30, 2000
In other words, the institutions, they are only being included in the sense that they are eligible to submit their proposal to the board. It does not mean they can then go ahead and do these loan guarantees simply on their own. They have to obtain board approval in order to do that; that is, this board of the Federal Reserve, the Treasury, and the Department of Agriculture. Is that correct?
Said by
John Sarbanes
Democratic · Maryland

Editor's note · Context

Discussing the approval process for loan guarantees involving federal institutions.

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