Political Quotes

Marcy Kaptur: first let me say, we heard about NAFTA, you hafta. Now it is Mexico, bailout or bust. United States taxpayers should not…

On the recordJanuary 18, 1995
first let me say, we heard about NAFTA, you hafta. Now it is Mexico, bailout or bust. United States taxpayers should not have to become Mexico's insurance company. Why should our taxpayers have to place the full faith and credit of our U.S. Treasury behind the Wall Street speculators who gambled and lost their own money? We have no legal obligation to do that. They are not insured by the Treasury of the United States or any of our respective banking institutions. So today, I would like to ask on the record our U.S. Treasury Secretary and Chairman of the Federal Reserve specifically which speculators have their hands out to the taxpayers of the United States? Which creditors must Mexico pay off in the first quarter of this year, in the second, in the third, in the fourth, and in years hence? Which investment banks, we want to know who they are and where they are located and how much? Which mutual funds, which multinational corporations who gambled that the fundamentals of that system of government in Mexico were good enough for them to take our jobs south of the border? And which global banks? Who specifically does Mexico owe the $26 billion that is coming due this year, and then the dozens and dozens of billions, $89 billion total public debt, not counting the private debt, and all the creditors that Mexico owes? Call my approach tough love. There are just some times when you have to say ``no.'' Imagine, we have a U.S.…
Said by
Marcy Kaptur
Democratic · Ohio

Editor's note · Context

Addressing concerns about U.S. taxpayer involvement in a potential bailout for Mexico.

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