I come today as a freshman Member of this body with a burden on my heart to speak to the American people about this crisis in Mexico. I think it points out that we have a crisis in Washington, because some people are still not listening to the American electorate. I think the people out here deserve to know some of what we are privy to know here in Washington, DC, relative to the Mexican bailout and the actions, in the last few hours, of the administration. Today I was briefed at the Republican policy meeting by our Treasury Secretary, Robert Rubin. While I have a tremendous amount of admiration and respect for Mr. Rubin, I realize that he is in a very difficult situation because he was thrown into, as our new Treasury Secretary, this unfortunate situation in Mexico. Mr. Speaker, many people in our conference, in the Republican Conference, believed for the last 2 weeks as the administration came to us, Mr. Greenspan, Mr. Rubin, and made their case for why we needed to consider a $40 billion bailout of Mexico's peso, we believed that Congress was the only way that they could come and tap into the resources necessary to try to achieve their objectives.
Editor's note · Context
Addressing the crisis in Mexico and the proposed bailout during a floor speech.
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