Political Quotes

Louie Gohmert: I really appreciate that point. Of course, it's the problem we have right now. When the Federal Government is moving…

On the recordJune 8, 2010
I really appreciate that point. Of course, it's the problem we have right now. When the Federal Government is moving toward a 1.3 to $1.6 trillion deficit in 1 year, they are sucking the capital from every corner of the world, printing some, and there is not money for the private sector. We have had meetings with the Federal Reserve people, including Chairman Bernanke. We have had meetings with people in the OCC, Office of the Comptroller of the Currency, and from the FDIC. In the last couple of years we have had a number of meetings, and what we hear from people who are trying to borrow money to stay in business, people that have had lines of credit at their local bank for 20 years are now being told we are not going to continue your line of credit. And when they asked, have I ever been late, have I missed a payment, what is the problem? Well, our banking regulators have told us that they are going to, you know, be all over our bank and we can't handle the pressure if we keep loaning you money, extending your line of credit.
Said by
Louie Gohmert
Republican · Texas
Source
govinfo.gov
Jun 8, 2010

Editor's note · Context

Gohmert discusses the impact of federal deficits on private sector lending and banking regulations.

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