Ohio Democrat, Representative Marcy Kaptur is my newest hero. This rousing address to the House of Representatives from September 17 echoes what Dennis Kucinich has been saying about the bailouts. In it, she gives the annual compensation figures for Freddie Mac’s CEO ($18.3 Million) and Fannie Mae’s CEO ($11.6 Million) and the net worth of American International Group’s CEO, Maurice Greenberg ($3.6 Billion!!)
Check out this story from US News: The Biggest Bailout
The Federal Reserve extended an $85 billion loan to American International Group to be paid back as AIG sells off some business in the biggest government takeover so far in the ongoing credit crisis.
And don’t miss her now legendary “Let’s Play Wallstreet Bail-Out” speech, given September 22, 2008 on the floor of the House of Representatives says it all. Click on More for the complete transcript.
Ms Katur has since gone on to initiate legislation to actually fix the United States’ financial system as opposed to just putting a pricy bandaid on it. See: October 1, 2008: Kaptur and DeFazio Propose the No BAILOUTS Act
“We want a good bill, not a fast bill. We want a bill that will really work,” said Kaptur, the senior-most woman in the House.