Melvin Watt said "I don't understand the rationale of my colleagues. And it would be something else if this bill were going to see the light of day in the Senate. It's not going anywhere. This is a message bill, Mr. Chairman. That's all this is about. Let's send a message to the American people that we can cut. Whether we're cutting money that's taxpayer money or cutting money that's going to be paid out of the top fund that the law requires the biggest financial institutions in America to make the taxpayers whole, if, at the end of the day there is a deficit in repaying this money, it doesn't matter. Let's just stand up and beat on our chest and say to the American people and think that they will believe that we are doing something to save them tax dollars. This bill saves no tax dollars, and it's an abomination." @ PoliticalQuotes.com

On the recordMarch 11, 2011

I don't understand the rationale of my colleagues. And it would be something else if this bill were going to see the light of day in the Senate. It's not going anywhere. This is a message bill, Mr. Chairman. That's all this is about. Let's send a message to the American people that we can cut. Whether we're cutting money that's taxpayer money or cutting money that's going to be paid out of the top fund that the law requires the biggest financial institutions in America to make the taxpayers whole, if, at the end of the day there is a deficit in repaying this money, it doesn't matter. Let's just stand up and beat on our chest and say to the American people and think that they will believe that we are doing something to save them tax dollars. This bill saves no tax dollars, and it's an abomination.

Said by

Melvin Watt

North Carolina

Source

govinfo.gov

Editor's note · Context

The speaker criticizes a bill as ineffective and merely symbolic, arguing it does not save taxpayer money.

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