James Oberstar: “Yesterday I stood up within the Democratic Caucus and I said, ``It is going to be necessary, in my judgment, to come to…”

“Yesterday I stood up within the Democratic Caucus and I said, ``It is going to be necessary, in my judgment, to come to the assistance of the airline industry of the United States.'' I said that I believe that our financial institution and our regulators stand ready to use all the powers that they have under law to do that. I was a bit dumbfounded today when, in the caucus at approximately 4:30, the Democratic Caucus, I found out for the first time that we might be considering a bill that was intended or that we consider a bill authorizing up to $15 billion, $12.5 billion in loans or loan guarantees, and $2.5 billion for compensation, grants for direct losses. I expressed some concerns in our Caucus about that, rather strong concerns. I went back to my office, and I discussed it with my staff. My staff said, this is already being reported in The Washington Post. It is a virtual done deal.”