Bob Menendez: “I want to state very clearly and very loudly for the record that I stand staunchly opposed to the unilateral action by…”

“I want to state very clearly and very loudly for the record that I stand staunchly opposed to the unilateral action by the executive, in collaboration with the leadership of the House, to grant the Mexican Government an unprecedented bailout package worth billions of dollars. Not a single congressional voice nor a single American voter will be heard by virtue of the process that has taken place on this banker and speculator bailout bill. Mr. Speaker, I think it is a travesty for justice. I know that some in the House were involved in negotiations, but overwhelmingly many were not, many who also represent hundreds of thousands of taxpayers in their congressional districts. For those of us who did not support NAFTA, we spoke up about our concerns at that time, that Mexico was a developing economy, not a developed economy. We spoke up about our concerns about the value of the peso, and that in fact it was way beyond where it should be in terms of its exchange rate. Sure enough, Mr. Speaker, after NAFTA and after the presidential elections in Mexico, we find that many of these things are coming true.”