Speech #980194179

The callable capital stays in epch governments treasury and would only be used in the event of a total failure by the bank. an event that is extremely unlikely. The bank could make loans at attractive rates. because its bonds would be the highest gradebeing guaranteed by the callable capital of the bank. The bilateral development bank address the real problem of illegal immigrationwhich is the desperate need for human opportunity. The truth is that the SimpsonMazzoli bill solves no problem at all. It does not address the causes of illegal immigration. and it does not even effectively deal with the symptoms. For example. SimpsonMazzoli would limit legal immigration from Mexico to about 40.000 per year. The waiting list for visas in Mexico today is backlogged by 300.000. and the length grows with each passing day. Under SimpsonMazzoli. the backlog of visa applications would inexorably grow. Since legal immigration is already all but impossible for Mexicans. and would continue to be so. the typical Mexican would continue to have no choice but to enter without legal permission. After all. 14 of 15 Mexican visa applicants in line today must expect to wait forever. the only real choice in that kind of situation is to swim the river. Since the immigration reform bill neither addresses the cause of illegal immigration. nor makes it practical for the typical immigrant to enter legally. it is an exercise in futility. The only realistic thing to do is to work on the basic cause of the problem. rather than to throw up a new paper fence. SimpsonMazzoli would be just thata paper curtain that would be no more effective in stopping illegal immigration than the socalled tortilla curtain has been. My bilateral bank proposal is realistic. it is positive. it addresses the real problem. it relies on mechanisms that have been proven over decades. and that have worked throughout the world. It is a program that offers maximum flexibility. that requires very little government outlays and removes development efforts from the realm of politicslocal or international. This is a program that is pragmatic. that will produce results. and that can be put in place quickly. since both governments already have vast experience with the techniques and organization involved in the concept. The bilateral development bank recognizes a mutual need. operates on the basis of mutual cooperation. and represents the kind of system in which both governments can place great confidence. because both governments have used the concept for decades. with great success. Today. illegal immigration is seen as a U.S. problem with a Mexican solution. But for the Government of Mexico. stopping illegal migration would only exacerbate the already great problems of poverty and unemployment within the country. On our side of the border. there can be no hope that the immigrant wave can be stopped or even much affected by a reform bill that in no way addressed the root causes of illegal entry. let alone makes it possible for legal migration to take place. My bill provides the real solutiona cooperative program that helps both countries solve a problem that vexes and embarrasses both. in a way that is acceptable to both. because it gives neither side advantage nor disadvantage.*