James T. Callahan: “very seriously, there are people on both sides of this issue that I greatly respect. I respect George Shultz. I respect…”

“very seriously, there are people on both sides of this issue that I greatly respect. I respect George Shultz. I respect the gentlewoman from California. I respect a lot of people. But George Shultz says do not give them anything. I respect Bob Rubin and he says give them the entire 18 billion. And I respect Alan Greenspan. He says give them the 18 billion. But I also respect the views of the people I represent and the Members of the U.S. House of Representatives who are questioning this. They are questioning whether or not we are doing the right thing under the circumstances in past history. IMF has a good historical record with respect to monies being paid back. But we are reaching a stage of no return, a different type of global economy that is causing concerns to our constituents and they want to know why there is not more transparency. They want to know why we do not have more control over the activities of the International Monetary Fund, since we are putting in nearly 18 percent of their revenues. And they have requested that we instruct the International Monetary Fund to change directions of the past. We are not sufficiently prepared today to address these very serious concerns.”