As the House prepares to vote on a sweetened bailout package approved by the Senate last night, U.S. lawmakers discussed the bill.
Frank On Transparency
"We believe the complete transparency is important... Price is ultimately a market price... So, part of what this may do is to create a market in part. And that's why one of the things we said in the bill, that we added to the bill, is an oversight board that every single transaction has to be reported instantly... If it turns out that when the Treasury has bought some things and all kinds of people flood them with offers to sell more then we know that they overpaid."
- Rep. Barney Frank, (D-NY)
Lott: Senate Showed Courage
“The Senate yesterday and the day before showed leadership and courage came together with a package that needed to be passed. And it’s the first time I’ve seen that sort of working-together and cooperation for the best interest of the country for more than two years. I hope the House will sober up now and follow suit.”
- Sen. Trent Lott, (R-MS)
Corker Supports Plan
“The fact is we’re not spending taxpayer money. We are investing in assets… These assets ought to be worth near what they bought for and candidly there ought to be a profit made. All of that money, all of that, comes back to the Treasury to reduce the national deficit.”
- Bob Corker, (R-TN)
Pelosi Outlines Bill
"The core of the plan is identical to the original bill we had negotiated last weekend... It has one addition that we all agree to, which is lifting the FDIC limit in the legislation from $100,000 to $250,000. And, we welcome that change."
Nancy Pelosi, Speaker of the House, (D-CA)More Bailout News:
- Sweetened Bailout Faces Uncertain Future In House