Political Quotes

Ted Poe: more fallout continues from the bailout. Congress gave the people's money to AIG last year in the amount of $152…

On the recordFebruary 3, 2009
more fallout continues from the bailout. Congress gave the people's money to AIG last year in the amount of $152 billion. AIG has decided to spend $400 million on bonuses for 400 executives. That sounds like about $1 million per executive to me. But they aren't alone. The Wall Street fat cats demanded and received $350 billion in bailout money, and gave $18 billion to their big-shot executives. Do you know that those are the same executives that helped get us in this current economic mess? It looks like they are being rewarded for bad conduct. But the real problem is the bonus money doesn't belong to AIG or the 'Wall Street Banking Boys Gang.' It's one thing for a free market, private company to spend their money any way they choose. That's capitalism. But the free enterprise system was altered when those companies started demanding and taking taxpayers' money. Most normal citizens who are scraping to make ends meet, like the Joe Sixpacks in America, don't like the way the bailout bandits are spending and wasting their taxpayer money. Madam Speaker, when Big Business gets in bed with Big Government, in the morning, the government mistress will tell Big Business how to spend the money. And that's just the way it is.
Said by
Ted Poe
Republican · Texas

Editor's note · Context

Addressing the misuse of bailout funds and executive bonuses during a speech on the House floor.

Share

More from Ted Poe

Dec 11, 2018

Thank you, Mr. Speaker. We are in the midst of a situation in the United States, and throughout the world, where slavery has crept back into our environment and into our communities, and it is the slave trade of women and children for…

govinfo.gov
Sep 27, 2018

The State Department has released its annual country report on terrorism. Terrorist attacks are down worldwide, but there are still frustrating details that we must expose. The biggest frustration is that Pakistan, a so-called major…

govinfo.gov
Sep 25, 2018

It is time to remove the veil of secrecy from the hallowed halls of the Supreme Court. Americans have the right to watch the proceedings in person, but only 50 members of the public can get into the small courtroom at a time. Technology…

govinfo.gov
Nov 27, 2018

I want to express my strong support for this legislation of which I am an original cosponsor. I was proud to work alongside Ranking Member Engel, Mr. Adam Smith, Mr. McCaul, and Representative Keating on this legislation. Around the globe…

govinfo.gov

Other voices in this conversation