On a Day like Today: American bankruptcy

In 1993, US Rep. Traficant warned that the US was then facing 'chapter 11.'

Friday, November 11, 2011

Congressman James Traficant (D) Ohio

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United States Congressional Record — March 17, 1993 — Vol. #33, page H-1303 — Speaker- Rep. James Traficant, Jr. (Ohio) addressing the House of Representatives:

"Mr. Speaker, we are here now in chapter 11. Members of Congress are official trustees presiding over the greatest reorganization of any Bankrupt entity in world history, the U.S. Government. We are setting forth hopefully, a blueprint for our future. There are some who say it is a coroner's report that will lead to our demise."

Traficant, a Democrat from Cleveland, was expelled from the House of Representatives having been convicted of taking bribes and forcing his staff to work on his farm and his houseboat.

Spero News editor Martin Barillas is a former US diplomat, who also worked as a democracy advocate and election observer in Latin America. He is also a freelance translator.