[Congressional Record (Bound Edition), Volume 155 (2009), Part 8]
[House]
[Page 10184]
[From the U.S. Government Publishing Office, www.gpo.gov]




                            TARP REPAYMENTS

  (Mr. McCLINTOCK asked and was given permission to address the House 
for 1 minute and to revise and extend his remarks.)
  Mr. McCLINTOCK. Mr. Speaker, many Americans have been shocked in 
recent days to learn that banks that are seeking to repay TARP money 
have been told that the Treasury will not allow them to do so. The 
taxpayers were promised that this money was to be used to buy up toxic 
assets and that it would be repaid to the Treasury as soon as humanly 
possible. Well, not a single toxic asset has been purchased, and now 
when several banks have attempted to return that money, they have been 
told the Treasury will not allow them to do so.
  This is a travesty. Just a few weeks ago, many Members of this House 
in this Chamber reacted to the AIG bonus fiasco by saying, ``We want 
our money back.'' And yet when some banks have attempted to do exactly 
that, they have been turned away at the Treasury gates.
  Mr. Speaker, today I have introduced legislation to require the 
Secretary of the Treasury to accept TARP repayments unconditionally and 
immediately when they are presented. I hope that I can count on the 
support of all of those in this House who promised their constituents 
that these funds would be repaid at the earliest possible opportunity.

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