Melvin Watt: “I don't understand the rationale of my colleagues. And it would be something else if this bill were going to see the…”

“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.”