[Congressional Record (Bound Edition), Volume 154 (2008), Part 15]
[House]
[Page 20191]
[From the U.S. Government Publishing Office, www.gpo.gov]




              DEMAND ACCOUNTABILITY IN THE BAILOUT PACKAGE

  (Mr. KIRK asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. KIRK. Mr. Speaker, let me strike a more bipartisan tone. Given 
the dire economic warnings that we see, Republicans and Democrats in 
this House must pull together to save the jobs and the economy for 
working Americans. But if there is to be a bailout, it must be a 
bailout with consequences. We should include a prohibition on taxpayer 
dollars being used for senior officer salaries or golden parachutes and 
require the termination for senior officers who are receiving aid.
  Federal regulators rightly blocked the golden parachutes for the 
failed leaders of Fannie Mae and Freddie Mac. We should now set that 
precedent into law. If you get a taxpayer bailout, you lose your job 
and your parachute.
  In the Navy, we know how to deal with this. If a skipper runs his 
ship aground, he is immediately relieved of command.

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