Burgess Owens: “we have not an accidental shipwreck here. We have a deliberate shipwreck being set up. I am not the oldest person in…”

“we have not an accidental shipwreck here. We have a deliberate shipwreck being set up. I am not the oldest person in this body tonight, but I have been here a long time and seen the great swindle of the savings and loans collapse. This is a swindle that will be even bigger. We have the full faith and credit somewhere behind the pension guaranty fund. It is not there, we are going to put it behind there, and it is the American taxpayers who are going to pay when this whole pension system collapses. I do not know what grand formula is in motion here and who the genius is, but the looting of America is going along very well, and this is one more step in that direction. It is going to be a huge, like an economic asteroid collapsing on the economy when this pension benefit guaranty fund collapses as the savings and loans did. {time} 2200 We can't even get a figure as to how many billions of dollars were lost in the savings and loans. If you go looking for it, it is nebulous. But at least $1 trillion of taxpayer money has gone down the drain, and is still going, partially because it was funded with 30-year bonds. I watched while it unfolded. And the savings and loans criminals, really, were not punished. It was a great example of how you could steal millions and get away with it.…”