[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]


                      VOTE AGAINST MEXICAN BAILOUT

  (Ms. KAPTUR asked and was given permission to address the House for 1 
minute and to revise and extend her remarks.)
  Ms. KAPTUR. Mr. Speaker, if Members have not decided how to vote on 
the $40 billion Mexican bailout package, let me refer them to 
yesterday's U.S.A. Today business page which says that mutual fund 
speculators in emerging markets earned 66 percent yields on their 
investments since 1990. Would my colleagues not like to earn some of 
that money?
  Then today on the Washington Post editorial page Robert Dunn, an 
economist at George Washington University advises against a $40 billion 
bailout of Wall Street by saying the proposed bailout is really a 
rescue package for investment bankers and mutual fund managers in New 
York and other financial centers who took huge risks in exchange for 
very high-interest rates in Mexico.
  We now have a wonderful recipe for prosperity on Wall Street. When 
risky assets pay, keep the money and complain about high taxes; but 
when such high risk assets approach default, get the U.S. treasury and 
taxpayers to cover the losses.
  Vote against the Mexican bailout.

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