Political Quotes

“And coupled with that, what about American corporations that have benefited from NAFTA, have built plants in Mexico, have seen economic problems as a result of the peso devaluation? Are we rushing forward, in part, to bail out those investors? Are they going to be part of a plan in this economic liberalization, will they participate financially in the bailout in the same sense that Congressman Gephardt suggested they help finance NAFTA, with across-the-border transaction fees? That is something that we need to address. Last, thinking the unthinkable, what happens, what steps should we be prepared to take in the event the bailout package fails to stop the hemorrhaging of confidence in the Mexican Government and in the Mexican economy? The issues here, Mr. Speaker, is to slow down, to have extensive hearings, not to delay for 3 to 4 months. We do not need to do that, but there is no reason to rush into this. Investors around the world, the international finance community do not expect the U.S. Congress to address this this week. We need to slow down, we need to have extensive hearings, we need to discuss these questions, explore these answers, and find out what in fact is the situation all around this $40 billion bailout. I again say I hope, Mr. Speaker, that Speaker Gingrich makes the decision to slow down, particularly for all the new Members of the new Congress, some 85 new Members that are not really familiar with this issue.”