Political Quotes

“Mr. Chairman, my amendment cuts funding to environmentally sensitive Overseas Private Investment Corporation fund projects, such as oil refineries, chemical plants, oil and gas pipelines, large scale logging projects, and projects near wetlands or other protected areas. Current OPIC investment funds are not subject to any transparency requirements. Furthermore, no specific information on these projects is contained in OPIC's annual reports. As a consequence, Congress, the public and the residents living near OPIC projects have no knowledge of the potential environmental and related financial and political risks. What is the taxpayer's interest in these projects? Taxpayers are liable for OPIC investments overseas if they fail. I want to repeat that. Taxpayers are liable for OPIC investments overseas if they fail. Private corporations and investors make investments in OPIC investment funds. OPIC-supported funds, in turn, make direct equity and equity-related investments in new, expanding and privatizing companies in 'emerging market' economies. While taxpayer money is not actually invested in these funds, taxpayers are liable for the investments should they fail. These funds have invested in more than 240 business projects in over 40 countries. Recent estimates show that the total amount in Investment Fund programs will soon reach $4 billion.”