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Political Quotes

Doug Bereuter: “I want to speak in the strongest possible terms of my opposition to the Roukema-Vento amendment and for the…”

On the recordMay 13, 1998
I want to speak in the strongest possible terms of my opposition to the Roukema-Vento amendment and for the Leach-Campbell-Bereuter substitute. What we have seen over the last few years is a Japanese banking system where the assets have grown tremendously because Japanese banks have been able to take equity positions or ownership in businesses. So as the economy was good in Japan, the assets of those banks also moved upward dramatically with the progress of those industries. So Japan had most of the largest 20 or 25 banks in the world. But what happens with their mixing of banking and commerce is that it also exaggerates trends downward. So at a time when the Japanese need a strong banking system, they do not have that strong banking system to help them spin out of their economic difficulties.
Said by
Doug Bereuter
Source
govinfo.gov

Editor's note · Context

Opposing an amendment related to banking legislation and discussing the Japanese banking system.

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