Political Quotes

“Before I go on to the next amendment, I want to very briefly put a closing point on the last discussion in responding to the gentleman from Washington (Mr. Heck). Of course, the bankers love this. What does a banker love any less than a guaranteed loan? As for Miss Jenny's Pickles that we have heard about many, many times, I will point out to everybody that the last amendment was limited to loans that were greater than $10 million, not really, really small businesses. Those are exactly the type of private sector market loans we are looking for. In fact, if I wanted to sum up in one sentence as to why you should support the last amendment, it would be: Can't we at least, maybe, give the private sector a chance first on loans of this size? There is another opportunity to do that now, Mr. Chairman, on this next amendment, which would prohibit the Export-Import Bank from doing any business with companies that are owned or have other ties to sovereign wealth funds in excess of $100 billion. I will give you a classic example of how the Export-Import Bank is being used right now. The Government of Indonesia was seeking bids for a power plant. One of the American manufacturers was in the bidding, and the bid request came in as follows and said that the buyer shall finance the project by using 30 percent equity and 70 percent debt. An export credit agency shall cover at least 50 percent of the debt financing.…”