On the recordMarch 16, 2011
Mr. Speaker, I appreciate the gentleman's comments about our being here today on the floor in a bipartisan way with a bill that went through regular order with an opportunity for any Member that would choose that has any ideas that are germane to the issue and that fall within the rules to be included. And you are going to see where there are a bunch of amendments today. Mr. Speaker, the conversation that the gentleman and I were having should further extend, and that is the common sense that is related to why we are on the floor today, the discussion about whether we should make it better or simply repeal it. And I would quote from the IG of the TARP fund in his report to Secretary Geithner: ``Although in the final analysis it is up to the policymakers in the administration and the Congress to determine whether it is worth spending tens of billions of taxpayer dollars on a program that is assumed at its outset to fail ultimately for 40 percent of the participants, several aspects of HAMP's design make it particularly vulnerable to redefaults.'' I think the IG has said it best. When any objective person looked at what the Democrat Congress passed, they would have to question whether it was worth spending tens of billions of dollars on a program at the outset we should have known would fail for 40 percent of the participants. I think that is good reason to say, common sense should say, let's stop the plan, not continue it. Mr.…





