Political Quotes

Ted Poe: oh, how things have changed. Time was, when you borrowed money from a bank, the bank wanted to know what the money was…

On the recordJanuary 15, 2009
oh, how things have changed. Time was, when you borrowed money from a bank, the bank wanted to know what the money was going to be used for, and you were required to fill out a bunch of forms to receive that money. Now the big banks have shown up, wanting $350 billion from the taxpayer. They won't tell us what they will use the money for, and they haven't filled out any paperwork to justify receiving more taxpayer money. You see, they don't want the same standards they require on borrowers to be applied to them when they want money. It used to be the bad guys robbed the banks. Now it appears that the banks are the bad guys by putting a financial gun to the people, saying, ``Give us the loot or you're all going to die economically.'' It's like bank robbery in reverse. It seems like the big banking boys' gang is robbing the people. We call all of this nonsense a bailout, but bailouts have not helped stimulate the economy. Why don't we just say, ``No''? No more money to special interest groups. No more taxpayer money will be spent without accountability. No more spending money we don't have. We cannot spend, borrow and tax our way out of this economic calamity. And that's just the way it is.
Said by
Ted Poe
Republican · Texas

Editor's note · Context

Addressing the financial bailout and accountability in government spending.

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