Howard Metzenbaum: “I say to my colleague that we will present the Senator from New York with a draft of such legislation within the hour…”

“I say to my colleague that we will present the Senator from New York with a draft of such legislation within the hour, before 5 o'clock. I would hope that I could have a response by 6 o'clock. It will not be complicated legislation. We know the deal. Let me talk about taxpayers dollars and what is involved here as compared to other losses that are being suffered by the RTC. If we were to compare the loss from United Savings of Texas, which cost 35 times the losses of Madison, we would be taking the calendar such as my colleague from New York has on display over there, and that would be United Savings of Texas. Whereas the amount involved with respect to Madison Guaranty--and this is also a calendar--would be about the size of this card. So what we are talking about is, do we really want to protect the taxpayers' interest or do we just want to make a political deal out of it with respect to Madison Guaranty? Why does not the Senator from New York have 24 calendars, each calendar representing one of the months since 1992 when Madison Guaranty's statute first expired? Why was not my colleague here in March 1992 and again in April 1992 and again in May 1992 and again in June 1992, and so on--for 2 years counting down the times since the statute expired--trying to get the statute revived? I have spent untold hours trying to get the statute revived, but I have not had support from the Senator from New York.”