Political Quotes

Bob Wise: “It is my understanding that very shortly, perhaps by the end of this week, there will be a package on the floor…”

On the recordJanuary 17, 1995
It is my understanding that very shortly, perhaps by the end of this week, there will be a package on the floor authorizing and approving perhaps as much as a $40 billion loan guarantee program, yes, I stress the word ``guarantee,'' but it means the taxpayers can be on the hook potentially for that amount. To my recollection that may be the largest amount taxpayers have been asked to be even potentially liable for since the S&L situation in setting up the Resolution Trust Corporation. There are several questions that need to be answered on this that I have not been able to get answers to that I have been asking. How much are we talking about? We started at $9 billion, then we went to 18, the Treasury a couple days ago was saying 25, and today it is $40 to $45 billion. Second, it is my understanding there is already an existing line of credit. Has any of this been drawn down yet? It is my understanding probably some has already.
Said by
Bob Wise
West Virginia
Source
govinfo.gov

Editor's note · Context

Discussing a proposed $40 billion loan guarantee program and its implications for taxpayers.

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