[Congressional Record Volume 144, Number 141 (Friday, October 9, 1998)]
[House]
[Page H10222]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




   AMERICAN TAXPAYERS SUBSIDIZING FOREIGN ECONOMIES WHILE THEY DENY 
                           AMERICAN PRODUCTS

  (Mr. TRAFICANT asked and was given permission to address the House 
for 1 minute and to revise and extend his remarks.)
  Mr. TRAFICANT. Madam Speaker, let us see if this makes some sense:
  Foreign banks all over the world make bad loans knowingly to prop up 
their falling economies hoping against hope to salvage their systems. 
Then their businesses go belly up. They default on their loans, the 
banks fail, and then the foreign banks dial 911 to Uncle Sam for more 
money. The International Monetary Fund then calls Uncle Sam and says:
  ``If you don't make these countries and these foreign banks any more 
loans, they won't buy your products.''
  Beam me up, Mr. Speaker. When American taxpayers are subsidizing 
foreign economies and they are denying American products, we need a 
proctologist to give us some counseling.

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