Financial Services Legislation Markup

Oct 20, 2009

House Committee Financial Services

The House Financial Services Committee held a markup of the Consumer Financial Protection Agency Act. They debated several amendments including provisions to ban certain financial products.
The House Financial Services Committee held a markup of the Consumer Financial Protection Agency Act. They debated several amendments including provisions to ban certain financial products.

3 hours, 51 minutes | 189 Views

SHARE

  • SEND VIDEO
  • POST VIDEO TO FACEBOOK
  • BOOKMARK VIDEO

EMBED THIS VIDEO

Copy the code below and paste it into your website:

MORE OPTIONS

Change Size

TRANSCRIPT

TIME SPEAKER TEXT
00:00:14 Frank, BarneyU.S. Representative I WANT TO ADDRESS A LETTER I RECEIVED ON THE CAPTAIN TALL MARKETS, REQUESTING A POSTPONEMENT OF A...
00:00:31 Unidentified Speaker I CAN'T HEAR YOU.
00:00:33 Frank, BarneyU.S. Representative THEY COULD. THE RANKING MINORITY MEMBERS HAVE ASKED US TO POSTPONE THE FOUR-PART PACKAGE OF BILLS...
00:01:50 Bachus, SpencerU.S. Representative THAT INCLUDES THE CREDIT RATING?
00:01:53 Frank, BarneyU.S. Representative YEAH, IT'S CREDIT ATING AGENCIES, PRIVATE POOLS OF CAPITAL. IT'S WORK THAT'S BEEN DONE BY MR. CANDORSKI....
00:03:24 Bachus, SpencerU.S. Representative JUST A POINT OF CLARIFICATION. THE FEDERAL INSURANCE OFFICE WILL BE INCLUDED?
00:03:31 Frank, BarneyU.S. Representative YES.
00:03:33 Bachus, SpencerU.S. Representative I KNOW THERE HAVE BEEN DISCUSSIONS ABOUT THAT.
00:03:38 Frank, BarneyU.S. Representative THERE HAVE BEEN A LOT OF CONVERSATION WITH THE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS AND...
00:04:13 Bachus, SpencerU.S. Representative THANK YOU.
00:04:16 Frank, BarneyU.S. Representative SO THAT IS THE SCHEDULE. AND WE NOW WILL RECONVENE THE MARKUP. IT IS MY HOPE THAT WE WILL, NOT MY...
00:05:34 Royce, EdwardU.S. Representative I HAVE ONE.
00:05:37 Unidentified Speaker A MOTION OF DRAFT OFFERED BY MR. ROYCE AND MR. GARRETT.
00:05:47 Frank, BarneyU.S. Representative I ASK UNANIMOUS CONSENT THAT IT BE ACCEPTED AS READ.
00:05:52 Royce, EdwardU.S. Representative THE REFERENCE TO PAGE 54 BE CHANGED TO A REFERENCE TO PAGE 52?
00:05:57 Frank, BarneyU.S. Representative WITHOUT OBJECTION, SO ORDERED. IN THE FIRST WORDS, PAGE 52 AFTER LINE 16.
00:06:05 Royce, EdwardU.S. Representative THANK YOU MR. CHAIRMAN.
00:06:07 Frank, BarneyU.S. Representative GENTLEMAN IS RECOGNIZED.
00:06:08 Royce, EdwardU.S. Representative I APPRECIATE THAT. THE ARGUMENT FOR THOSE OF US THAT ARE CONCERNED ABOUT BIFURCATING THE REGULATION,...
00:10:28 Frank, BarneyU.S. Representative I WAS REMINDED THAT LAST WEEK, I SAID THAT WE WOULD NOT HAVE VOTES TODAY IN COMMITTEE. THAT WE WOULD...
00:15:09 Garrett, ScottU.S. Representative YOU CAN'T HAVE CONSUMER PROTECTION IN THE COMPANY OR BANK OR INSTITUTION THAT YOU'RE DOING BUSINESS...
00:18:28 Frank, BarneyU.S. Representative MR. WATT?
00:18:30 Watt, MelvinU.S. Representative I MOVE TO STRIKE THE LAST WORD. I GUESS THROUGHOUT THE HEARINGS LEADING UP TO THIS MOCK-UP, I'VE ...
00:21:47 Garrett, ScottU.S. Representative WOULD THE GENTLEMAN YIELD ON THAT?
00:21:48 Watt, MelvinU.S. Representative I'M HAPPY TO.
00:21:52 Garrett, ScottU.S. Representative I WAS JUST ABOUT TO BE WILLING TO OFFER THAT AMENDMENT WITH YOU JOINTLY.
00:21:58 Watt, MelvinU.S. Representative I DON'T THINK YOU'RE SERIOUS ABOUT THAT AT ALL. IF WE STARTED TALKING ABOUT MAKING THE FED, THE OTHER...
00:22:44 Frank, BarneyU.S. Representative WILL THE GENTLEMAN YIELD TO ME?
00:22:47 Watt, MelvinU.S. Representative I YIELD TO THE CHAIRMAN.
00:22:49 Frank, BarneyU.S. Representative YOU HAVE A MUTUAL VETO, THEN YOU HAVE, I SUPPOSE, PEOPLE VETOING EACH OTHERED A ED A INAD INFINITUM....
00:23:15 Garrett, ScottU.S. Representative YOUR OPENING COMMENT WAS YOU THOUGHT YOU CREATED AN UNDERLYING LEGISLATION, AN EQUAL PLAYING FIELD...
00:23:42 Watt, MelvinU.S. Representative I THINK YOU OUGHT TO TAKE THE SECOND PART OF THIS AMENDMENT AND SAY, WITH RESPECT TO ANY REGULATION...
00:24:08 Watt, MelvinU.S. Representative THERE'S NO WAY YOU WOULD AGREE.
00:24:12 Frank, BarneyU.S. Representative I WOULD SAY, JUST TO SAY, AS THE CHAIR, I HOPE THIS MEMBERS VOTE IT DOWN. IF THE GENTLEMAN FROM NEW...
00:24:32 Garrett, ScottU.S. Representative WITH THE SUPPORT OF THE AMENDMENT?
00:24:34 Frank, BarneyU.S. Representative NO.
00:24:37 Frank, BarneyU.S. Representative IF THE GENTLEMAN WOULD PERMIT ME. THERE'S A GREAT DISTINCTION BETWEEN THE GENTLEMAN OFFERING THE IDEA...
00:24:49 Bachus, SpencerU.S. Representative I THINK THIS EYE LIGHTS THE DISAGREEMENT BETWEEN THE APPROACH THAT WE IN THE MINORITY HAVE PRO POSED...
00:29:55 Perlmutter, EdU.S. Representative THANK YOU, MR. CHAIR. THE WAY YOU DRAFTED THE AMENDMENT PROVIDES A VETO TO THE PRUDENTIAL REGULATOR....
00:31:09 Frank, BarneyU.S. Representative GENTLEMAN FROM TEXAS.
00:31:11 Hensarling, JebU.S. Representative THANK YOU, MR. CHAIRMAN. CLEARLY, THIS NATION IS SUFFERING FROM BAILOUT FATIGUE. FANNIE, FREDDIE,...
00:34:13 Frank, BarneyU.S. Representative THE GENTLEMAN FROM TEXAS, MR. GREEN.
00:34:20 Green, AlU.S. Representative THIS AMENDMENT IS WHAT I STYLE A 340-DEGREE AMENDMENT. IT LITERALLY WILL TAKE US BACK TO WHERE WE...
00:36:04 Watt, MelvinU.S. Representative I THANK THE GENTLEMAN. I WANT TO ADDRESS MR. PEARLMAN ON THE LEFT. I THINK SOMETHING IS IN THE BILL....
00:37:13 Frank, BarneyU.S. Representative DOES THE GENTLEMAN FROM TEXAS YIELD TO ME?
00:37:18 Green, AlU.S. Representative I YIELD.
00:37:19 Frank, BarneyU.S. Representative WHEN WE'RE TALKING ABOUT CONSUMER PROTECTION. THEY DO NOT HAVE MUCH GOOD DO SAY ABOUT THE FEDERAL...
00:38:59 Green, AlU.S. Representative MY CLOSING COMMENT, THIS WOULD REDUCE THE AGENCY TO BEING AN ADVISORY COMMITTEE. I DON'T THINK WE...
00:39:14 Castle, MichaelU.S. Representative THANK YOU, MR. CHAIRMAN. I DO SUPPORT THE AMENDMENT, MR. ROYCE AND MR. GARRETT, AND SUPPORT IT STRONGLY....
00:43:12 Frank, BarneyU.S. Representative GENTLEMAN FROM ILLINOIS, MR. FOSTER.
00:43:14 Foster, BillU.S. Representative THANK YOU. MY MAIN PROBLEM WITH THIS LEGISLATION IS IT SETS WAY TOO LOW A THRESHOLD FOR OVERRIDING...
00:45:02 Manzullo, DonaldU.S. Representative A YIELD TO MR. ROYCE OF CALIFORNIA.
00:45:05 Royce, EdwardU.S. Representative THANK THE GENTLEMAN FOR YIELDING. YOU KNOW, IF WE HAD NOT HAD EVERY REGULATOR APPEAR BEFORE US AND...
00:49:05 Frank, BarneyU.S. Representative I -- THE QUESTION NOW COMES ON THE AMENDMENT. VOTE IN FAVOR SAY AYE.
00:49:11 Frank, BarneyU.S. Representative OPPOSED, NO.
00:49:13 Frank, BarneyU.S. Representative NOs HAVE IT. ANDMENT IS --
00:49:16 Frank, BarneyU.S. Representative THOSE JOINING HIM WILL SIGNIFY. A SUFFICIENT NUMBER, THE -- VOTE WILL BE BY ROLL CALL, AND, AGAIN...
00:49:28 Watt, MelvinU.S. Representative I HAVE AN AMENDMENT AT THE DESK.
00:49:31 Unidentified Speaker AMENDMENT TO THE DISCUSSION DRAFT OF SEPTEMBER 25, OFFERED BY MR. WATT OF --
00:49:36 Frank, BarneyU.S. Representative CONSENT THE AMENDMENT BE CONSIDERED READ WITH ALL DISTRIBUTED.
00:50:06 Frank, BarneyU.S. Representative GENTLEMAN E NORTH CAROLINA RECOGNIZED FIVE MINUTES.
00:50:09 Watt, MelvinU.S. Representative THANK YOU, MR. CHAIRMAN. AND I WANT TO COVER THREE THINGS. FIRST OF ALL I WANT TO EXPRESS MY THANKS...
00:55:56 Waters, MaxineU.S. Representative THANK YOU. I'M GOING TO CALL ON MR. MOORE, THE CO-AUTHOR OF THE --
00:56:03 Moore, DennisU.S. Representative THANK YOU. I WANT TO COMMEND CONGRESSMAN WATT FOR WORKING WITH ME ON THIS COMPROMISED AMENDMENT, FINDING...
00:56:13 Hensarling, JebU.S. Representative INQUIRY?
00:56:19 Waters, MaxineU.S. Representative WE HAD A REQUEST. ALL RIGHT. THANK YOU. THEY'RE GOING TO THIS SIDE. THANK YOU VERY MUCH.
00:56:29 Bachus, SpencerU.S. Representative THANK YOU, CHAIRMAN. MADAM CHAIRMAN, I THINK ONE OF THE BLESSINGS THAT WE HAVE IN THIS COUNTRY IS...
00:59:22 Frank, BarneyU.S. Representative IT'S GENTLEMAN WOULD YIELD --
00:59:24 Bachus, SpencerU.S. Representative YES.
00:59:26 Frank, BarneyU.S. Representative FOR INSTANCES SWINE FLU IN TWO MEMBERS OF HER IMMEDIATE FAMILY.
00:59:30 Bachus, SpencerU.S. Representative LEM SAY THIS, I'M NOT --
00:59:31 Frank, BarneyU.S. Representative WITH THAT SAID --
00:59:33 Bachus, SpencerU.S. Representative I WOULD HOPE SOMEONE ELSE WOULD OFFER THE AMENDMENT THAT SHE HAD -- HAD PROPOSED EARLIER.
00:59:40 Watt, MelvinU.S. Representative GENTLEMAN, YOU HAVE --
00:59:42 Watt, MelvinU.S. Representative MY UNDERSTANDING, MR. PERILMUTTER IS PLANNING TO OPERATE IN HER STEAD.
00:59:46 Bachus, SpencerU.S. Representative GOOD. WELL, THAT COMES AS GOOD NEWS, AND --
00:59:52 Frank, BarneyU.S. Representative UNLESS ILLNESS STRIKES HIM. AS OF NOW --
00:59:55 Bachus, SpencerU.S. Representative TA SUPPORT SOME OF THAT NATURE. LET ME CLOSE BY SAYING, YOU KNOW, IT'S NOT AN ACCIDENT THAT OUR ECONOMY...
01:00:33 Watt, MelvinU.S. Representative WOULD THE GENTLEMAN YIELD?
01:00:35 Bachus, SpencerU.S. Representative AND INDIVIDUAL CHOICE AND COMPETITION, AND NOT BY ALLOWING NOT ONLY THE FEDERAL GOVERNMENT, BUT ALSO...
01:00:50 Watt, MelvinU.S. Representative I THANK YOU, GENTLEMAN, FOR YIELDING. THE GENTLEMAN SEEMS TO HAVE FORGOTTEN THE INCONVENIENT TRUTH...
01:01:42 Frank, BarneyU.S. Representative I APOLOGIZE. THE CONFUSION WAS A RESULT OF MY MISTAKE NOT THE GENTLEMAN FROM CALIFORNIA. GENTLEMAN...
01:01:47 Moore, DennisU.S. Representative THANK YOU. MOVE TO STRIKE THE LAST WORD. I WANT TO KMEMD CONGRESSMAN WATT FOR HIS LEADERSHIP ON KRP...
01:05:11 Frank, BarneyU.S. Representative FURTHER DEBATE? GENTLEMAN OF ILLINOIS?
01:05:19 Manzullo, DonaldU.S. Representative MR. CHAIRMAN, THIS AMENDMENT SHOWS THE BASIC PROBLEM WITH THE UNDERLYING BILL. I MEAN, COULD YOU HAVE...
01:09:55 Frank, BarneyU.S. Representative RECOGNIZED MYSELF FOR FIVE MINUTES. THE BILL THE GENTLEMAN IS DESCRIBES IS A TRULY BAD ONE, AND I...
01:12:50 Hensarling, JebU.S. Representative WOULD THE CHAIRMAN YIELD?
01:12:52 Frank, BarneyU.S. Representative TO THE GENTLEMAN IN TEXAS.
01:12:55 Hensarling, JebU.S. Representative MR. CHAIRMAN, I'M FUR WHETHER THE LANGUAGE IS STILL IN THE BIM THAT SAYS THAT THE CFPA IT KET THE...
01:13:34 Frank, BarneyU.S. Representative TAKE BACK MY TIME. THE KIND OF THING YOU SCALE LITTLE CHILDREN WITH. I DON'T SEE LITTLE CHILDREN OUT...
01:15:00 Bachus, SpencerU.S. Representative MR. CHAIRMAN?
01:15:01 Bachus, SpencerU.S. Representative YES. I WAS GOING TO --
01:15:03 Waters, MaxineU.S. Representative MR. CHAIRMAN --
01:15:08 Royce, EdwardU.S. Representative THANK YOU, MR. CHAIRMAN. GOING BACK TO THE POINT OF THE GENTLEMAN FROM NORTH CAROLINA. THE CONSTITUTION...
01:18:28 Royce, EdwardU.S. Representative YES. I'LL YIELD TO THE GENTLEMAN FROM NORTH CAROLINA.
01:18:33 Watt, MelvinU.S. Representative I THANK YOU, GENTLEMAN, FOR THE YIELD AND THE GENTLEMAN WILL NOTE I NEVER ARGUED THAT -- THAT THE...
01:19:14 Royce, EdwardU.S. Representative THAT WAS -- RECLAIMING MY TIME, THAT WAS BEFORE OUR XPOORNS WITH THE ARTICLES OF CONFEDERATION, AND...
01:20:22 Frank, BarneyU.S. Representative THE GENTLEMAN FROM TEXAS, LAST GENTLEMAN TO GIVE ME 15 SECONDS JUST TO READ THE REST OF THE SECTION...
01:21:03 Green, AlU.S. Representative THANK YOU, MR. CHAIRMAN. I SUPPORT THE AMENDMENT AND I DO SO BECAUSE THE LANGUAGE APPEARS TO BE QUITE...
01:22:10 Frank, BarneyU.S. Representative GENTLEMAN FROM DELAWARE.
01:22:12 Castle, MichaelU.S. Representative THANK YOU, MR. CHAIRMAN. MR. CHAIRMAN, I LIVE IN WILMINGTON, DELAWARE WITH 30 MINUTES MAYBE LESS YOU...
01:23:55 Castle, MichaelU.S. Representative PERHAPS SOME AMENDMENT AND THIS AMENDMENT IN THIS PARTICULAR AREA, BUT MY SENSE IS THAT WE HAVE --...
01:24:58 Perlmutter, EdU.S. Representative THANK YOU, MR. CHAIRMAN. THERE IS A SECONDARY AMENDMENT AT THE TIME.
01:25:04 Frank, BarneyU.S. Representative CLERK DESIGNATE THE SECRETARY MEMBER.
01:25:07 Unidentified Speaker AMENDMENT TO THE WATT/MOORE 6 KANSAS --
01:25:09 Frank, BarneyU.S. Representative I ASKED YOU TO PRESENT TO BE DISPENSED WITH. AND THE AMENDMENT WILL BE DISTRIBUTED HAVING ALREADY...
01:25:26 Perlmutter, EdU.S. Representative THANK YOU, MR. CHAIRMAN. WHAT THIS AMENDMENT WILL DO AND I WILL SHARE WITH MY FRIENDS THAT I ENTEND...
01:28:55 Bachus, SpencerU.S. Representative WOULD YOU GENTLEMAN OF
01:28:56 Perlmutter, EdU.S. Representative YES, SIR.
01:28:58 Bachus, SpencerU.S. Representative PRIOR TO WITHDRAWING IT, WOULD YOU GIVE US AN OPPORTUNITY
01:29:01 Perlmutter, EdU.S. Representative YES. HOW DO I DO THAT? I YIELD?
01:29:09 Frank, BarneyU.S. Representative SO VOLUNTEER.
01:29:12 Bachus, SpencerU.S. Representative MR. CHAIRMAN, YES -- I WAS SET TO WITHDRAW.
01:29:14 Frank, BarneyU.S. Representative APPARENTLY NOT NECESSARY. UNDER THE RULES, A REFRESHER, I HAVE TO REMIND, WHAT'S A PALMTARIAN, I'M...
01:29:43 Bachus, SpencerU.S. Representative I APPRECIATE THAT. MR. CHAIRMAN. I WOULD ASK THE GENTLEMAN FROM COLORADO YOU SUPPORT YOUR AMENDMENT....
01:29:50 Bachus, SpencerU.S. Representative WHAT?
01:29:52 Perlmutter, EdU.S. Representative IT'S MS. BEENE'S AMENDMENT AND CERTAINLY SOMETHING THAT I HELPED AND THEN HELPED REACH --
01:29:57 Bachus, SpencerU.S. Representative IS THERE ANY REASON WHY YOU'RE WITHDRAWING IT?
01:30:01 Perlmutter, EdU.S. Representative I THINK WE'VE REACHED A, AN AMENDMENT, MR. WATT'S AMENDMENT WHICH BALANCES BOTH THE STATE RIGHTS,...
01:30:20 Bachus, SpencerU.S. Representative YOU REALLY SUPPORT HIS AMENDMENT AND NOT THE AMENDMENT YOU'VE OFFERED?
01:30:25 Perlmutter, EdU.S. Representative YEAH, BUT THE AMENDMENT PROPOSED BY MS. BEENE I THINK IS WHAT BROUGHT ABOUT A BALL,ED APPROACH ON...
01:30:37 Bachus, SpencerU.S. Representative I MEAN YOU JUST OFFER IT AS OPPOSED TO MR. WATT?
01:30:40 Perlmutter, EdU.S. Representative I THINK MR. WATT REACHED GOOD BALANCE ON THIS. THOUGH I THINK WE COULD STILL
01:30:43 Bachus, SpencerU.S. Representative RIGHT. I AGREE WITH YOU. IN FACT, LET ME SAY THIS. YOU BROUGHT UP CUOMO VERSUS
01:30:53 Perlmutter, EdU.S. Representative YES, SIR.
01:30:55 Bachus, SpencerU.S. Representative AND I'VE ACKNOWLEDGED, AND I THINK SEVERAL MEMBERS OF THE MINORITY, I'M NOT SPEAKING FOR ALL OF THEM,...
01:32:23 Frank, BarneyU.S. Representative IS THERE FURTHER DEBATE? I THINK MEMBERS OF THIS COMMITTEE SHOULD FEEL FREE TO DEBATE EITHER THE AMENDMENT...
01:32:39 Perlmutter, EdU.S. Representative I WITHDRAW IT AT THIS TIME AND WE CAN TALK ABOUT IT, CERTAINLY. BUT I'M GOING TO WITHDRAW.
01:32:43 Frank, BarneyU.S. Representative GENTLEMAN IS WITHDRAWING THE AMENDMENT. THE GENTLEMAN FROM ILLINOIS.
01:32:47 Foster, BillU.S. Representative I JUST WANTED TO MENTION VERY BRIEFLY WHAT I THINK IS A POTENTIALLY FRUITFUL AREA TO INVESTIGATE FOR...
01:33:26 Watt, MelvinU.S. Representative THE GENTLEMAN YIELD. I JUST WANT TO ASSURE HIM THAT'S ONE OF THE ISSUES THAT HAS BEEN THE SUBJECT...
01:35:35 Foster, BillU.S. Representative THANK YOU. I YIELD.
01:35:37 Frank, BarneyU.S. Representative GENTLEMAN FROM TEXAS?
01:35:39 Hensarling, JebU.S. Representative 34R CHAIRMAN, I HAVE A SECOND-DEGREE AMENDMENT AT THE DESK FGTS THE CLERK WILL REDEG NATE THE AMENDMENT....
01:35:48 Frank, BarneyU.S. Representative I ASK YOU NOW CONSENT THAT THE AMENDMENT ALREADY CONSENTED TO BE READ, TO BE READ. AND THE GENTLEMAN...
01:35:58 Hensarling, JebU.S. Representative THANK YOU, MR. CHAIRMAN. THIS WILL ENSURE THAT WE CAN JUST KEEP THIS DISCUSSION GOING, KEEP IT GOING...
01:40:05 Frank, BarneyU.S. Representative I RECOGNIZE MYSELF IN OPPOSITION TO THE AMENDMENT. FIRST OF ALL, ALL OF THIS SPECULATION TAKES FORM...
01:44:39 Bachus, SpencerU.S. Representative THANK YOU, MR. CHAIRMAN. MR. CHAIRMAN, YOU IN YOUR COMMENTS JUST NOW SAID THAT WE HAVE ARGUED AN OVERLY...
01:45:21 Unidentified Speaker YES.
01:45:23 Frank, BarneyU.S. Representative I WOULD NOTE THAT SEVERAL MEMBERS OF THE REPUBLICAN SIDE HAVE CITED THE RECORD OF ENFORCEMENT OF THE...
01:45:35 Bachus, SpencerU.S. Representative BUT I AM SAYING WHAT YOU SAID. YOU HAVE SAID IN THE PAST THAT THE PROBLEM WAS NOT WITH FEDERAL REGULATION...
01:45:47 Frank, BarneyU.S. Representative WILL THE GENTLEMAN YIELD.
01:45:49 Bachus, SpencerU.S. Representative IF I COULD READ THE REMARK. YOU SAID, WE HAVE HAD BANK REGULATORS SUBJECT TO THE BANK REGULATORS AND...
01:46:18 Frank, BarneyU.S. Representative WILL THE GENTLEMAN YIELD --
01:46:19 Bachus, SpencerU.S. Representative YES.
01:46:23 Frank, BarneyU.S. Representative THE GENTLEMAN FORGETS THAT THE 23ED RAL REFEDERAL RESERVE HAD THE POWER TO DEAL WITH THAT AND THEY...
01:46:44 Bachus, SpencerU.S. Representative TAKING BACK MY TIME. MR. CHAIRMAN, YOU AND I HAVE AGREE AND I WOULD LIKE TO INTRODUCE COMP TROLLEREPTROLLERCOMPTROLLER...
01:47:37 Bachus, SpencerU.S. Representative 2008? CUOMO? ALL RIGHT. THE CUOMO DECISION, AND THE DECISION I KNOW THAT THE OCC HAD TRIED TO ENJOIN...
01:48:02 Frank, BarneyU.S. Representative WILL THE GENTLEMAN YIELD? THE GENTLEMAN IS MISSING THE POINT. THE REASON THEY WERE UNREGULATED IS...
01:48:21 Bachus, SpencerU.S. Representative AND WE HAVE PROPOSED THAT THOSE BE TAKEN AWAY FROM THE FEDERAL RESERVE. YOU ARE EXACTLY CORRECT, BUT...
01:49:12 Waters, MaxineU.S. Representative YES, SIR.
01:49:14 Frank, BarneyU.S. Representative THE GENTLEMAN FROM CALIFORNIA AND THE GOVERNOR OF CALIFORNIA IS RECOGNIZED FOR FIVE MINUTES.
01:49:20 Waters, MaxineU.S. Representative THANK YOU, VERY MUCH, MR. CHAIRMAN. I FIRST OF ALL WOULD LIKE TO SAY THAT I RESPECT THAT YOU ASKED...
01:54:37 Frank, BarneyU.S. Representative IS THERE FURTHER DEBATE?
01:54:38 Watt, MelvinU.S. Representative MR. CHAIRMAN.
01:54:39 Frank, BarneyU.S. Representative THE GENTLEMAN FROM NORTH CAROLINA.
01:54:40 Frank, BarneyU.S. Representative SORRY, CAN I GO TO THE GENTLEMAN FROM CONNECTICUT. SORRY, GENTLEMAN FROM NORTH CAROLINA. AND WILL...
01:55:32 Watt, MelvinU.S. Representative I DON'T THINK I NEED FIVE MINUTES, MR. CHAIRMAN. ACTUALLY, I WAS TEMPTED TO JUST NOT SAY ANYTHING,...
01:56:52 Frank, BarneyU.S. Representative GENTLEMAN OF ALABAMA ASKS FOR UNANIMOUS CONSENT TO SPEAK.
01:56:55 Bachus, SpencerU.S. Representative I THANK THE CHAIRMAN -- SORRY, THIS GENTLEMAN HERE.
01:56:59 Frank, BarneyU.S. Representative OH.
01:57:00 Castle, MichaelU.S. Representative THANK YOU. I WILL YIELD TO THE GENTLEMAN FROM ALABAMA IN A MOMENT, BUT I WANT TO SPEAK IN SUPPORT...
01:58:11 Bachus, SpencerU.S. Representative THANK YOU. MR. CHAIRMAN, AND MEMBERS OF THE COMMITTEE, I WANT TO REINFORCE AGAIN WHAT WE ON THIS SIDE...
02:00:39 Frank, BarneyU.S. Representative GENTLEMAN YIELD?
02:00:40 Bachus, SpencerU.S. Representative YES.
02:00:41 Frank, BarneyU.S. Representative TWO THINGS. FIRST, MY RESPECT FOR THE SUPREME COURT OF 1903 IS LESSENED BY THE FACT THAT I THINK...
02:01:33 Bachus, SpencerU.S. Representative IF THE CHAIRMAN WILL ACKNOWLEDGE WHAT I HAVE SAID ON SEVERAL OCCASIONS HERE TODAY IS THAT I AM AGREE...
02:01:44 Frank, BarneyU.S. Representative I UNDERSTAND, BUT THE LEGALLY ENFORCED.
02:01:46 Bachus, SpencerU.S. Representative STATUTORILY, AND IN FACT, THE REPUBLICAN ALTERNATIVE ACKNOWLEDGES AND GIVES STATUTORY AND WE ESTABLISH...
02:02:01 Frank, BarneyU.S. Representative WILL THE GENTLEMAN -- YES, BUT THE SUBSTANCE IS THE SAME AS MR. HAWK, TOTAL PREEMPTIVE TO SUBSTANTIALLY....
02:02:07 Bachus, SpencerU.S. Representative WELL, WHAT YOU ARE ADVOCATING IS ALMOST TOTAL PREEMPTION WHERE WE ARE A VOE KATING A UNIFORM NATIONAL...
02:02:23 Frank, BarneyU.S. Representative WELL, LET ME ASK YOU --
02:02:26 Bachus, SpencerU.S. Representative AS YOU ARE FOND OF TALK TACT EUROPEAN SYSTEM THAT IT IS A CURE-ALL, BUT --
02:02:29 Frank, BarneyU.S. Representative WHO IS?
02:02:31 Bachus, SpencerU.S. Representative AND THAT IS A GENTLE --
02:02:33 Frank, BarneyU.S. Representative WELL, IF THE GENTLEMAN WILL YIELD TO ME. FOR A MINUTE. YOU SAID I'M FOR THE BALKANIZATION OF THE...
02:02:55 Bachus, SpencerU.S. Representative OR HERZEGOVINA --
02:02:57 Frank, BarneyU.S. Representative WELL, IF YOU START TO PRONUNS THESE NAMES WE WILL HAVE A WAR HERE.
02:03:00 Bachus, SpencerU.S. Representative WELL, ONE OF THE SMALLER
02:03:08 Unidentified Speaker AYE.
02:03:09 Unidentified Speaker NO.
02:03:11 Frank, BarneyU.S. Representative THE NOS HAVE IT. THE GENTLEMAN FROM TEXAS HAS REQUESTED A ROLL CALL. [ INAUDIBLE ]
02:03:33 Frank, BarneyU.S. Representative I DIDN'T HEAR THAT. SO WE WILL NOW PROCEED TO A ROLL CALL TOMORROW ON THE HENSARLING AMENDMENT AND...
02:03:52 Waters, MaxineU.S. Representative -- TO OFFER AN AMENDMENT.
02:03:54 Frank, BarneyU.S. Representative SORRY, I MESSED THAT UP. HERE. THE GENTLEMAN FROM NEW YORK, MR. LEE HAS AN AMENDMENT.
02:03:59 Lee, ChristopherU.S. Representative THANK YOU, I HAVE AN AMENDMENT AT THE DESK.
02:04:02 Frank, BarneyU.S. Representative THE CLERK WILL DESIGNATE THE AMENDMENT.
02:04:04 Unidentified Speaker AMENDMENT TO THE DISCUSSION DRAFT OF SEPTEMBER 25 OFFERED BY MR. LEE OF NEW YORK AND --
02:04:10 Frank, BarneyU.S. Representative I ASK FOR UNANIMOUS CONSENT THAT THE AMENDMENT BE CONSIDERED READ AND WE WILL WITHHOLD UNTIL THE STAFF...
02:04:30 Lee, ChristopherU.S. Representative THANK YOU, MR. CHAIRMAN. THIS AMENDMENT WHICH I WAS PLEASED TO WORK WITH MY SUBCOMMITTEE RANKING MEMBER...
02:07:04 Frank, BarneyU.S. Representative I RECOGNIZE MYSELF FOR FIVE MINUTES IN OPPOSITION OF THE AMENDMENT. THIS GETS THIS SITUATION AS NEARLY...
02:11:33 Hensarling, JebU.S. Representative THANK YOU, MR. CHAIRMAN. I WANT TO CONGRATULATE THE GENTLEMAN FROM NEW YORK FOR THIS AMENDMENT. I...
02:16:39 Frank, BarneyU.S. Representative IS THERE FURTHER DEBATE? IF NOT, THE QUESTION IS ON THE GENTLEMAN FROM MINNESOTA.
02:16:44 Paulsen, ErikU.S. Representative I MOVE TO STRIKE THE LAST WORD. IN SPEAKING IN FAVOR OF THE GENTLEMAN'S AMENDMENT IN NEW YORK, I THINK...
02:17:14 Lee, ChristopherU.S. Representative THANK YOU. I WILL BE BRIEF. AGAIN, I THINK THAT ALL MEMBERS OF CONGRESS ARE CONCERNED ABOUT CONSUMER...
02:19:09 Frank, BarneyU.S. Representative THE GENTLEMAN FROM ALABAMA.
02:19:11 Bachus, SpencerU.S. Representative MR. CHAIRMAN, I INTEND TO BE BRIEF. I FULLY SUPPORT THE AMENDMENT, BECAUSE AS ALMOST EVERYONE HAS...
02:22:48 Frank, BarneyU.S. Representative AND THE AMENDMENT OF THE GENTLEMAN FROM NEW YORK. IN FAVOR AYE. OPPOSED NO. NOS VIT. -- NOS HAVE...
02:22:59 Frank, BarneyU.S. Representative A RECORDED VOTE IS REQUESTED. THOSE JOINS WILL RAISE THEIR HANDS. ENOUGH HAVE RAISED THEIR HANDS SO...
02:23:08 Waters, MaxineU.S. Representative THANK YOU, MR. CHAIRMAN, I HAVE AN AMENDMENT AT THE DESK, IT IS WATERS AMENDMENT NUMBER ONE.
02:23:16 Unidentified Speaker AMENDMENT TO THE DISCUSSION DRAFT OFFERED BY MS. WATERS OF CALIFORNIA. INSERT COMMA AFTER THE PARAGRAPH...
02:23:33 Waters, MaxineU.S. Representative THANK YOU VERY MUCH, MR. CHAIRMAN. THIS BILL DEVELOPS AN ADVISORY BOARD TO ADVISE AND CONSULT WITH...
02:25:21 Frank, BarneyU.S. Representative FURTHER DEBATE?
02:25:23 Bachus, SpencerU.S. Representative I DO NOT RISE IN OPPOSITION OF THE AMENDMENT, BUT I WOULD SUGGEST THAT THE PRESENT MEMBERSHIP OF THE...
02:26:18 Frank, BarneyU.S. Representative THE GENTLEMAN FROM NORTH
02:26:19 Bachus, SpencerU.S. Representative ALL RIGHT.
02:26:21 Frank, BarneyU.S. Representative FURTHER DEBATE? IF NOT, THE AMENDMENT OFFERED BY THE GENTLEWOMAN FROM CALIFORNIA. THOSE AGREED AYES...
02:26:35 Hensarling, JebU.S. Representative MR. CHAIRMAN, I HAVE A AMENDMENT AT THE DESK WHICH SHOULD BE NUMBER 16.
02:26:41 Frank, BarneyU.S. Representative THE CLERK WILL DESIGNATE THE AMENDMENT.
02:26:43 Unidentified Speaker AMENDMENT TO DISCUSSION DRAFT OFFERED BY MR. HENSARLING OF TEXAS, AND PAGE 25 --
02:26:48 Frank, BarneyU.S. Representative I ASK UNANIMOUS CONSENT THAT THE AMENDMENT BE CONSIDERED AS READ. THE GENTLEMAN IS RECOGNIZED FOR...
02:27:00 Hensarling, JebU.S. Representative THANK YOU, MR. CHAIRMAN. THE PURPOSE OF THE AMENDMENT IS TO ENSURE THAT THIS NEW AGENCY DOES NOT --...
02:32:07 Frank, BarneyU.S. Representative GENTLEWOMAN FROM CALIFORNIA.
02:32:11 Waters, MaxineU.S. Representative I WOULD ASK MY COLLEAGUES TO OPPOSE THIS AMENDMENT. I AM ASKING MY COLLEAGUES TO OPPOSE THE AMENDMENT...
02:36:08 Watt, MelvinU.S. Representative AS A SUBSTITUTE TO GETTING MY OWN TIME. I DON'T NEED FIVE MINUTES, BUT THIS STRIKES ME AS BEING THE...
02:37:18 Frank, BarneyU.S. Representative FURTHER DEBATE? THE GENTLEMAN FROM ALABAMA.
02:37:22 Bachus, SpencerU.S. Representative THANK YOU, MR. CHAIRMAN. I AM REMINDED WHEN THE GENTLE LADY FROM CALIFORNIA TALKED ABOUT THE ABUSIVE...
02:38:59 Hensarling, JebU.S. Representative I THINK THE GENTLEMAN FOR YIELDING. I WAS TRYING TO LISTEN CAREFULLY TO THE JENDGENTLE LADY FROM ...
02:42:29 Frank, BarneyU.S. Representative I WILL BEGIN BY ANSWERING THE GENTLEMAN'S QUESTION, NO, IT COULD NOT BE BANNED.
02:42:43 Bachus, SpencerU.S. Representative MR. CHAIRMAN, YOU'VE SAID ON TWO OR THREE OCCASIONS, I THINK YOU JUST SAID AGAIN WE'RE NOT
02:42:50 Frank, BarneyU.S. Representative NO. I'M SORRY. I TAKE BACK MY TIME.
02:42:59 Bachus, SpencerU.S. Representative I DON'T THINK YOU HAVE ANY TIME. I'M SORRY.
02:43:02 Frank, BarneyU.S. Representative I HAVE FIVE MINUTES. I JUST RECOGNIZED MYSELF. THE GENTLEMAN FROM TEXAS SAID, WELL, THEY MIGHT BAN...
02:47:34 Garrett, ScottU.S. Representative THANKS, CHAIRMAN. JUST BRIEFLY, I MAY HAVE MISHEARD. DID YOU SAY -- I WROTE DOWN THAT YOU SAID YOU...
02:50:23 Hensarling, JebU.S. Representative WILL THE GENTLEMAN YIELD?
02:50:24 Garrett, ScottU.S. Representative I'LL YIELD TO THE GENTLEMAN FROM TEXAS.
02:50:26 Hensarling, JebU.S. Representative I THANK THE GENTLEMAN FOR YIELDING. AGAIN, AS I LISTEN TO THIS DEBATE I HAVEN'T HEARD THE OTHER SIDE...
02:52:25 Frank, BarneyU.S. Representative OF COURSE IT NOW COMES ON ON THE AMENDMENT OFFERED FROM THE GENTLEMAN FROM TEXAS.
02:52:31 Unidentified Speaker AYE.
02:52:36 Unidentified Speaker NO.
02:52:44 Frank, BarneyU.S. Representative THE NOES HAVE IT. THE GENTLEMAN FROM FLORIDA HAS NOW RECOGNIZED TO OFFER AN AMENDMENT I THINK WITH...
02:52:55 Clay, William Lacy Jr.U.S. Representative I WAS LOOKING FOR RECOGNITION ON THE GENTLEMAN FROM TEXAS AMENDMENT.
02:53:05 Bachus, SpencerU.S. Representative -- CONSENT THAT HE BE ALLOWED TO COMMENT ON IT IF HE WOULD --
02:53:10 Frank, BarneyU.S. Representative WITHOUT OBJECTION.
02:53:12 Clay, William Lacy Jr.U.S. Representative THE POINT IS MOOT NOW. LET'S MOVE ON. LET'S NOT FILIBUSTER HERE. WE HAVE THE WORK OF THE PEOPLE HERE,...
02:53:23 Grayson, Alan M.U.S. Representative MR. CHAIRMAN, I HAVE AN AMENDMENT AT THE DESK.
02:53:27 Frank, BarneyU.S. Representative THE CLERK WILL DESIGNATE THE AMENDMENT.
02:53:30 Unidentified Speaker AMENDMENT TO THE DISCUSSION DRAFT OFFERED BY MR. GRAYSON OF FLORIDA --
02:53:38 Frank, BarneyU.S. Representative IT WILL BE DISTRIBUTED. THE GENTLEMAN IS RECOGNIZED FOR FIVE MINUTES.
02:53:45 Grayson, Alan M.U.S. Representative MR. CHAIRMAN, PEOPLE HAVE ELECTED US TO SOLVE THEIR PROBLEMS. THE GOVERNMENT AT ITS BEST BOTH HELPS...
02:57:32 Hensarling, JebU.S. Representative MR. CHAIRMAN?
02:57:35 Frank, BarneyU.S. Representative IS THERE FURTHER DEBATE? GENTLEMAN FROM TEXAS.
02:57:38 Hensarling, JebU.S. Representative THANK YOU, MR. CHAIRMAN. AGAIN, ALREADY, THIS NEW CFPA HAS SWEEPING POWERS TO BAN PRODUCTS THAT CONSUMERS...
03:01:19 Frank, BarneyU.S. Representative GENTLEMAN FROM MISSOURI.
03:01:22 Clay, William Lacy Jr.U.S. Representative THANK YOU, MR. CHAIRMAN. I WOULD LIKE TO SPEAK IN FAVOR OF THIS AMENDMENT BECAUSE IT PROTECTS CONSUMERS....
03:06:28 Bachus, SpencerU.S. Representative I THANK THE CHAIRMAN. I'D LIKE TO ASK THAT MR. GRAYSON, WHO'S RAPIDLY BECOMING MY MOST FAVORITE DEMOCRAT,...
03:06:57 Grayson, Alan M.U.S. Representative LET'S BE CLEAR ABOUT THIS. IF THE GENTLEMAN WILL YIELD.
03:07:00 Bachus, SpencerU.S. Representative YEAH. I'LL YIELD.
03:07:02 Grayson, Alan M.U.S. Representative THIS ACTION IS BASED UPON CONDUCTING A SCIENTIFIC SAMPLING OF FORECLOSURES AND BANKRUPTCIES DURING...
03:07:37 Bachus, SpencerU.S. Representative I'M JUST ASKING YOU. ANYTHING THAT JUST APPEARS TO HAVE CAUSED A SUBSTANTIAL NUMBER OF BANKRUPTCIES...
03:07:41 Grayson, Alan M.U.S. Representative I'M NOT TALKING ABOUT IT APPEARING IN A DREAM.
03:07:46 Bachus, SpencerU.S. Representative WOULD THE GENTLEMAN -- RECLAIM MY TIME. WOULD HE AGREE THAT SUBPRIME MORTGAGES MIGHT FIT THAT DEFINITION?...
03:07:55 Grayson, Alan M.U.S. Representative LISTEN. ANYTHING COULD FIT THE DEFINITION IF, IN FACT, IT DOES FIT THE DEFINITION. WE'RE TALKING ABOUT...
03:08:05 Bachus, SpencerU.S. Representative I THINK YOU'D ACKNOWLEDGE A LARGE NUMBER OF BANKRUPTCIES AND FORECLOSURES WITH SUBPRIME LOANS. SO...
03:08:31 Grayson, Alan M.U.S. Representative WOULD THE GENTLEMAN YIELD?
03:08:33 Bachus, SpencerU.S. Representative THEN ONCEWHAT YOU DO, THE CORRECTIVE ACTION, YOU SAY HERE THE DIRECTOR SHALL TAKE ACTION TO ELIMINATE...
03:08:45 Grayson, Alan M.U.S. Representative WELL, LET'S TALK ABOUT THAT. YOU KNOW, I THINK --
03:08:48 Bachus, SpencerU.S. Representative THAT'S WHAT I WAS DOING.
03:08:49 Grayson, Alan M.U.S. Representative WILL THE GENTLEMAN YIELD?
03:08:50 Bachus, SpencerU.S. Representative YES. I'LL YIELD.
03:08:51 Grayson, Alan M.U.S. Representative I THINK IT'S IMPORTANT TO UNDERSTAND WHAT'S AT STAKE HERE. WE'RE TALKING ABOUT SCIENTIFIC STUDIES...
03:09:16 Bachus, SpencerU.S. Representative OKAY.
03:09:18 Grayson, Alan M.U.S. Representative NOW, LET ME FINISH. WITH REGARD TO THAT, I THINK THAT THE CHOICE IS ACTUALLY CLEAR. I THINK YOU HAVE...
03:09:41 Bachus, SpencerU.S. Representative YOU'RE TAKING UP MY TIME.
03:09:42 Frank, BarneyU.S. Representative IT'S THE GENTLEMAN FROM ALABAMA'S TIME.
03:09:44 Bachus, SpencerU.S. Representative WHAT YOU'RE SAYING HERE IS THAT IF THE DIRECTOR, DIRECTOR, NOT EVEN THIS BOARD THAT'S MADE UP OF EXPERTS...
03:11:44 Frank, BarneyU.S. Representative GENTLEMAN FROM OHIO.
03:11:45 Driehaus, Steven L.U.S. Representative I MOVE TO STRIKE THE LAST WORD.
03:11:47 Frank, BarneyU.S. Representative GENTLEMAN'S RECOGNIZED.
03:11:49 Driehaus, Steven L.U.S. Representative I YIELD THREE MINUTES TO THE
03:11:51 Grayson, Alan M.U.S. Representative THANK YOU. AS I WAS SAYING, AND I HOPE I DO REMAIN YOUR FAVORITE DEMOCRAT, THERE SEEMS TO BE IN MY...
03:13:27 Frank, BarneyU.S. Representative GENTLEMAN FROM OHIO HAS THE TIME.
03:13:29 Driehaus, Steven L.U.S. Representative THANK YOU, MR. CHAIRMAN. I JUST WANT TO COMMENT ON THE AMENDMENT IN SUPPORT OF THE AMENDMENT. AND...
03:15:14 Bachus, SpencerU.S. Representative WILL THE GENTLEMAN YIELD?
03:15:15 Driehaus, Steven L.U.S. Representative NO, I WILL NOT YIELD. I THINK THE EVIDENCE IS QUITE CLEAR. AND I SUPPORT THE GRAYSON AMENDMENT BECAUSE...
03:15:38 Garrett, ScottU.S. Representative THANK YOU. AND I, AS THE RANKING MEMBER --
03:15:42 Bachus, SpencerU.S. Representative YES. I WANT TO SAY THIS. I WANT TO GIVE IT TO THE SPONSORS OF THIS LEGISLATION. THEY HAVE ACTUALLY...
03:16:44 Garrett, ScottU.S. Representative RECLAIMING MY TIME, THEN.
03:16:45 Bachus, SpencerU.S. Representative BUT I THINK THAT MAYBE --
03:16:47 Garrett, ScottU.S. Representative YIELDING BACK MY TIME.
03:16:49 Bachus, SpencerU.S. Representative -- IS THE KEY HERE. IF YOU WANT TO PREVENT PEOPLE FROM DEFAULTING ON LOANS, DON'T GIVE THEM A LOAN....
03:17:46 Garrett, ScottU.S. Representative BEFORE I YIELD TO THE GENTLEMAN FROM TEXAS VERY BRIEFLY, I AGREE WITH THE GENTLEMAN FROM OHIO WHEN...
03:18:59 Hensarling, JebU.S. Representative IF THE GENTLEMAN WILL YIELD.
03:19:00 Garrett, ScottU.S. Representative NO. THEN THE GENTLEMAN FROM FLORIDA, I SHOULD SAY. WHETHER YOU WOULD ACCEPT -- THANK YOU. THE AMENDMENT...
03:19:12 Grayson, Alan M.U.S. Representative NO.
03:19:13 Garrett, ScottU.S. Representative OKAY. WITH THAT, IN A BIPARTISAN EFFORT I WAS TRYING TO MAKE A GOOD BILL BETTER. WITH THAT I WILL...
03:19:23 Hensarling, JebU.S. Representative I THANK THE GENTLEMAN FROM NEW JERSEY FOR YIELDING. I HAVE IN MY HANDS HERE TESTIMONY THAT WAS GIVEN...
03:20:34 Frank, BarneyU.S. Representative I RECOGNIZE MYSELF. BECAUSE I HAVE TO RESPOND. I WOULD ASK THE GENTLEMAN FROM ALABAMA NOT TO LEAVE....
03:22:02 Bachus, SpencerU.S. Representative MR. CHAIRMAN, IF YOU WILL RECALL, WE SAT DOWN. WE HAD A GROUP THAT SAT DOWN BECAUSE THEY DIDN'T LIKE...
03:22:19 Frank, BarneyU.S. Representative I'LL TAKE MY TIME BACK. I'M TAKING MY TIME BACK. WHO CONSIDERED IT THE TRIAL LAWYER BILL? I'M SORRY....
03:22:26 Bachus, SpencerU.S. Representative IT WAS A CHARACTERIZATION.
03:22:27 Frank, BarneyU.S. Representative I HAVE TAKEN BACK -- IF THE GENTLEMAN DOES NOT -- EXCUSE ME! THE RULES ARE SUCH, AND IT'S MY TIME....
03:22:56 Bachus, SpencerU.S. Representative MR. CHAIRMAN, WHAT I DID IS I WROTE AND SAID WE WOULD BE WILLING TO HAVE A BILL. I SAID THESE ARE...
03:23:14 Frank, BarneyU.S. Representative LET ME TAKE MY TIME BACK NOW. I'M TAKING BACK MY TIME. DOES THE GENTLEMAN NOT UNDERSTAND THAT CONCEPT?...
03:23:20 Bachus, SpencerU.S. Representative I'M SORRY.
03:23:21 Frank, BarneyU.S. Representative IT'S MY TIME NOW. HERE'S THE POINT. FIRST HE SAID HE DIDN'T GET AN ANSWER. NOW HE ACKNOWLEDGES HE...
03:24:38 Bachus, SpencerU.S. Representative MR. CHAIRMAN, IN FACT, IF YOU LOOK AT WHAT I SENT YOU IN 2005 AND SAID THAT WE WERE PREPARED TO GO...
03:24:53 Frank, BarneyU.S. Representative I WILL TAKE MY TIME BACK TO SAY, LET ME ASK THE GENTLEMAN, I'M SORRY, WHY AS CHAIRMAN DID THE GENTLEMAN...
03:25:20 Bachus, SpencerU.S. Representative MR. CHAIRMAN, THERE WAS NO BILL. IF YOU'LL RECALL. THERE WAS NO ANY MEMBER COULD HAVE BROUGHT UP A...
03:25:27 Frank, BarneyU.S. Representative NO. I TAKE THAT TIME BACK. NO. THAT'S SIMPLY WRONG. WHEN YOU'RE THE CHAIRMAN OF THE COMMITTEE YOU...
03:25:49 Miller, BradU.S. Representative THANK YOU, MR. CHAIRMAN. I DID NOT ASK TO BE RECOGNIZED TO RELIVE WHAT CONGRESS FAILED TO ADDRESS...
03:29:20 Manzullo, DonaldU.S. Representative I YIELD TO MR. GARRETT OF NEW JERSEY.
03:29:22 Garrett, ScottU.S. Representative JUST A BRIEF COMMENT TO BOTH THE CHAIRMAN AND THE RANKING MEMBER WITH THEIR RECOLLECTION OF HISTORY....
03:30:31 Frank, BarneyU.S. Representative WOULD THE GENTLEMAN YIELD TO ME?
03:30:35 Frank, BarneyU.S. Representative THE GENTLEMAN WUPTASN'T THE RANKING MEMBER. HE WAS THE CHAIRMAN OF THE SUBCOMMITTEE. I UNDERSTAND...
03:30:57 Garrett, ScottU.S. Representative GOING FORWARD, THAT IS THE DISAGREEMENT THAT WE HAVE IN THIS LEGISLATIVE ASSEMBLY FOR THE LAST NINE...
03:31:17 Manzullo, DonaldU.S. Representative YES.
03:31:20 Frank, BarneyU.S. Representative I'M NOT PREPARED TO GIVE PEOPLE A -- I THINK WE SHOULD HAVE LEGISLATED WHEN WE DIDN'T LEGISLATE AS...
03:31:37 Manzullo, DonaldU.S. Representative RECLAIMING MY TIME, I THINK IF YOU TAKE A LOOK AT MR. GRAYSON'S BILL AND THE APPLICATION, I'M JUST...
03:34:34 Frank, BarneyU.S. Representative THE GENTLEMAN'S TIME HAS EXPIRED. FURTHER DEBATE. GENTLEMAN FROM NEW JERSEY.
03:34:39 Lance, LeonardU.S. Representative THANK YOU, MR. CHAIRMAN. I YIELD MY TIME TO THE RANKING
03:34:42 Bachus, SpencerU.S. Representative THANK YOU. I THANK THE GENTLEMAN FROM NEW JERSEY. MR. CHAIRMAN, I THINK ONE OF THE IMPORTANT THINGS...
03:39:45 Frank, BarneyU.S. Representative JIM DEMINT OF MISSOURI?
03:39:49 Cleaver, EmanuelU.S. Representative I WILL YIELD TO THE CHAIRMAN.
03:39:53 Frank, BarneyU.S. Representative I CAN'T LET THAT GO. THE GENTLEMAN SAID, HE DID MOVE A BILL IN MAY. MAY WAS 2007.
03:40:03 Bachus, SpencerU.S. Representative I SAID THERE WAS A BIPARTISAN BILL.
03:40:05 Frank, BarneyU.S. Representative MAY, 2007. THE BILL FINALLY MOVED IN 2007, WHEN WE WERE IN THE MAJORITY. THE GENTLEMAN IS CORRECT,...
03:42:21 Cleaver, EmanuelU.S. Representative CHAIRMAN --
03:42:23 Frank, BarneyU.S. Representative I APOLOGIZE.
03:42:27 Frank, BarneyU.S. Representative STORY. I YELLED TO THE CHAIRMAN FROM NORTH CAROLINA.
03:42:32 Frank, BarneyU.S. Representative I APOLOGIZE.
03:42:33 Miller, BradU.S. Representative THANK YOU. IT DID NOT OCCUR TO ME THAT THIS WOULD BE WHAT WE WOULD TALK ABOUT TODAY. I DID NOT GO...
03:44:15 Frank, BarneyU.S. Representative DIAMOND FROM MISSOURI'S TIME.
03:44:19 Cleaver, EmanuelU.S. Representative I YIELD TO NO ONE.
03:44:24 Frank, BarneyU.S. Representative THE GENTLEMAN FROM TEXAS AND.
03:44:27 Marchant, KennyU.S. Representative I YIELD MY TIME.
03:44:30 Hensarling, JebU.S. Representative THANK YOU, GENTLEMAN FROM TEXAS FOR YIELDING. I DO WANT THE COMMITTEE TO RECALL WHAT WE WERE DEBATING...
03:46:22 Marchant, KennyU.S. Representative THANK YOU, I WOULD LIKE TO SAY THAT I AM VERY MUCH OPPOSED TO THIS AMENDMENT. I THINK IT STARTED OUT...
03:47:07 Bachmann, Michele M.U.S. Representative QUESTION NOW FROM THE GENTLEMAN FROM MINNESOTA. SOME MR. CHAIRMAN, THE POINT CAME UP REGARDING POWER...
03:48:19 Frank, BarneyU.S. Representative A ROLL CALL IS ORDERED, AND IT IS TOO LATE TO START ANOTHER AMENDMENT. WE WILL RECESS AND COME BACK...

NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.

RELATED PROGRAMS

PEOPLE GRID LIST

  • Waters, Maxine
  • Frank, Barney
  • Bachus, Spencer
  • Hensarling, Jeb
  • Watt, Melvin
  • Royce, Edward
  • Garrett, Scott
  • Castle, Michael
  • Manzullo, Donald
  • Grayson, Alan M.
  • Perlmutter, Ed
  • Clay, William Lacy Jr.
  • Miller, Brad
  • Lee, Christopher
  • Moore, Dennis
  • Green, Al
  • Foster, Bill
  • Driehaus, Steven L.
  • Bachmann, Michele M.
  • Marchant, Kenny
  • Paulsen, Erik
  • Cleaver, Emanuel
  • Lance, Leonard
  • Ackerman, Gary
  • Adler, John
  • Baca, Joe
  • Barrett, James Gresham
  • Bean, Melissa
  • Biggert, Judy
  • Capito, Shelley Moore
  • Capuano, Michael
  • Carson, Andre D.
  • Childers, Travis W.
  • Donnelly, Joseph "Joe"
  • Ellison, Keith
  • Gerlach, Jim
  • Gutierrez, Luis
  • Himes, James "Jim" A.
  • Hinojosa, Ruben
  • Hodes, Paul
  • Jenkins, Lynn
  • Jones, Walter B. Jr.
  • Kanjorski, Paul E.
  • Kilroy, Mary Jo
  • King, Peter
  • Klein, Ron
  • Kosmas, Suzanne
  • Lucas, Frank D.
  • Lynch, Stephen F.
  • Maffei, Daniel "Dan"
  • Maloney, Carolyn
  • McCarthy, Carolyn
  • McCarthy, Kevin
  • McCotter, Thaddeus
  • McHenry, Patrick
  • Meeks, Gregory
  • Miller, Gary G.
  • Minnick, Walter
  • Neugebauer, Randy
  • Paul, Ron
  • Peters, Gary
  • Posey, Bill
  • Price, Tom
  • Putnam, Adam
  • Scott, David
  • Sherman, Brad
  • Speier, Jackie
  • Velazquez, Nydia M.
  • Wilson, Charles "Charlie"

PURCHASE