[Congressional Record (Bound Edition), Volume 156 (2010), Part 5]
[House]
[Page 6073]
[From the U.S. Government Publishing Office, www.gpo.gov]




                     END BAILOUTS ONCE AND FOR ALL

  (Ms. FOXX asked and was given permission to address the House for 1 
minute.)
  Ms. FOXX. What's the difference between an ``orderly liquidation 
fund'' and a taxpayer-funded bailout? There is no difference.
  Senate Democrats say they need $50 billion to create a new fund so 
the government can ``wind down'' failing financial firms. House 
Democrats want $100 billion more. Both bills increase taxes on 
consumers at a time when they can least afford it.
  Once the bailout fund is in place, government bureaucrats will decide 
which Wall Street firms are too big to fail, and then they'll use your 
hard-earned dollars to pay off the firm's creditors. Sound familiar? 
It's what they did for companies like AIG with the $700 billion TARP 
bailout.
  Now Democrats are pushing ``TARP Two.'' They want to give the 
government the power of a permanent bailout fund to get back in the 
game of deciding which of their Wall Street friends to rescue. And 
their bill does nothing about Fannie Mae and Freddie Mac--the two 
enterprises at the heart of the economic meltdown.
  Republicans have better solutions. Our measure deals with Fannie and 
Freddie and places failed firms into bankruptcy. It also provides 
better and smarter regulatory reform, stops the policy of ``too big to 
fail,'' and protects taxpayers by ending bailouts once and for all.

                          ____________________