[Congressional Record Volume 141, Number 20 (Wednesday, February 1, 1995)]
[House]
[Page H980]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


          NO GOVERNMENT BAILOUT FOR BAD INVESTMENTS IN MEXICO

  (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 bailout of Mexico and in very strong opposition to President 
Clinton's effort to circumvent the congressional process. At a time 
when this country has a $200 billion deficit and when Members of 
Congress are proposing cutbacks in Social Security, Medicare, Medicaid, 
veterans programs, and nutritional programs for hungry children, it is 
absurd to put $40 billion of American taxpayers' money at risk in an 
unstable Mexican economy and an unstable Mexican political system.
  If large banks and Wall Street investment houses want to purchase 
Mexican bonds at high interest rates, they have every right in the 
world to do so. But these big money interests do not have the right to 
be bailed out by Government when their investments turn sour.

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