[Congressional Record Volume 141, Number 14 (Tuesday, January 24, 1995)]
[House]
[Page H550]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                    MEXICO BAILOUT STRONGLY OPPOSED

  (Mr. SANDERS asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. SANDERS. Mr. Speaker, I rise in strong opposition to the $40 
billion Mexican bailout which is supported by President Clinton, 
Speaker Gingrich, and other congressional leaders.
  Mr. Speaker, at a time when Members of Congress are proposing 
cutbacks in Social Security, Medicare, Medicaid, veterans' needs, 
nutrition programs for hungry children, grants and loans for middle-
class college students, and the elimination of public broadcasting, I 
regard it as insane to put $40 billion of taxpayer money at risk 
through this loan guarantee project with Mexico.
  Mr. Speaker, we have enough problems taking care of the needs of 
America without trying to run Mexico.
  Mr. Speaker, if large banks and Wall Street investment houses want to 
purchase Mexican bonds at 19 percent interest rates, they have every 
right in the world to do so. But these great proponents of the free 
enterprise system who lecture us every day on the value of risk should 
not go running to Congress for a guarantee on their investments.

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