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Rep. Michael McCaul’s Links

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The Hill : The Hill's Erica Wisniewski caught up with Rep. John Yarmuth (D-Ky.) this week outside an Oversight and Government Reform Committee hearing to get his take on the government's $85 billion bailout of insurance giant AIG.

The Hill : See a transcript of Yarmuth's comments below.

Rep. Yarmuth : We’ve got to make sure that corporations, when they get this big, have some outside supervision, because they were basically allowed to do things that absolutely no individual would be willing to do or want to do, and they’ve put the entire economy at risk by doing it.

Rep. Yarmuth : I think we also need to look into this whole relationship between AIG and Goldman Sachs, because it was the Goldman Sachs people who basically put this bailout deal together, and it became pretty clear that they had intertwined financial interests, and I think that’s something the committee ought to look into as well.

Rep. Yarmuth : I guess, probably, I think the main reaction was a bit of surprise that a company that got so big could make so many mistakes that again, consumers wouldn’t make, and that probably has to shake the confidence of people in a lot of the big corporations we have in this country.
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