[Congressional Record Volume 141, Number 13 (Monday, January 23, 1995)]
[House]
[Page H482]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                             AID TO MEXICO

  The SPEAKER pro tempore (Mr. Camp). Under the Speaker's announced 
policy of January 4, 1995, the gentleman from Oregon [Mr. DeFazio] is 
recognized during morning business for 2 minutes.
  Mr. DeFAZIO. Wall Street, the influential lobbyists in Washington, 
DC, and Republicans in Congress prattle on about free markets and free 
trade until it is their speculative investments and profits on the 
line. If NAFTA were really about free trade, and free markets, then it 
would mean a free fall for both the Mexican tax market and a free fall 
for the peso.
  Heaven forbid that we should let the free market work when Wall 
Street's major financiers, Mexico's 24 billionaires, multinational 
corporations, big brokerage houses, and international investment 
bankers have gambled and lost.
  Fred Bergsten, director, Institute for International Economics, says 
of Members of Congress such as myself who oppose the bailout Mexico, 
``They don't realize they could cause what might be like an accidental 
nuclear war.''
  Out of such outrageous hyperbole is born the idea that the bailout of 
Mexico's billionaires and international speculators is an issue of 
national security which requires the United States to put its full 
faith and credit, that is read exactly, more specifically, United 
States taxpayers at risk.
  In the spirit of openness and sunshine, demanded by the new 
Republican majority in Congress and adopted in their rules, let us have 
some hearings on this issue. Let us have hearings before the Republican 
leaders jam the Mexican bailout through in the dark of the night, 
without any deliberation by this House.

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