| 00:00:02 |
Frank, Barney - U.S. Representative, [D] Massachusetts
INSURANCE PRODUCTS FROM BEING CONSIDERED SECURITIES. I NOW RECOGNIZE THE GENTLEMAN FROM NEW YORK MR. MEEKS TO MAKE A MOTION. >> I MAKE A MOTION THAT...
|
| 00:00:07 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 00:00:15 |
Meeks, Gregory - U.S. Representative, [D] New York
|
| 00:00:19 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 00:00:46 |
Meeks, Gregory - U.S. Representative, [D] New York
ADMINISTRATION, A PROPOSAL TO REGULATE FIA SECURITIES. THE MEAN REASON I INTRODUCED THIS BILL IN THE HOUSE IS BECAUSE, ONE, IT IS REALLY, A LOT OF IT...
|
| 00:01:05 |
Meeks, Gregory - U.S. Representative, [D] New York
GENTLEMAN, I THINK VERY WELL-REASONED PROPOSAL. THE S.E.C. EASE RULE 151 WHICH BRING FIXED INDEXED ANNUITIES UNDER THIS JURISDICTION. CURRENTLY PRIMARY...
|
| 00:04:21 |
Bachus, Spencer - U.S. Representative, [R] Alabama
INDUSTRY. THE HARKIN AMENDMENT WOULD EXEMPT FIXED INCOME ANNUITIES ALREADY REGULATED AT THE STATE LEVEL FROM ADDITIONAL REGULATION BY THE S.E.C. THE...
|
| 00:04:45 |
Bachus, Spencer R-AL, -
TO SPEAK IN OPPOSITION TO THE AMENDMENT, I HAVE GENERALLY BEEN SUPPORTIVE OF THE INSURANCE OVERREACHES. I WOULD KNOW THAT THE CURRENT SITUATION WE HAVE...
|
| 00:06:39 |
Frank, Barney - U.S. Representative, [D] Massachusetts
THE NORTH AMERICAN SECURITIES ADMINISTRATION INCORPORATED SIGNED BY THE CHIEF EXECUTIVE OFFICER KEVIN KELLER OPPOSING THE AMENDMENT. THAT IS THE SECURITIES...
|
| 00:07:02 |
Frank, Barney - U.S. Representative, [D] Massachusetts
AND I I'D LIKE TO SPEAK IN SUPPORT OF THE AMENDMENT, HAVING BEEN A CO-SPONSOR OF THE ORIGINAL LEGISLATION, AND COMMENT THE GENTLEMAN WHO IS NOT WITH US...
|
| 00:07:57 |
Garrett, Scott - U.S. Representative, [R] New Jersey
ONE MIGHT OPPOSE THE AMENDMENT, THE GENTLEMEN'S GOOD AMENDMENT IF THERE WAS EVIDENCE OF PROBLEMS IN THIS AREA. BUT NO ONE HAS LOST A PENNY ON ACCOUNT...
|
| 00:08:27 |
Garrett, Scott R-NJ, -
VERY MUCH. APPRECIATE THIS BEFORE US AND I HAVE TO CONCUR WITH WHAT WAS JUST SAID. I TALKED WITH A NUMBER IN MY STATE AND THIS HAS CAUSED ME TO TALK...
|
| 00:10:47 |
Boswell, Leonard L. - U.S. Representative, [D] Iowa
LEVEL, IT'S WORKING VERY GOOD. THE USERS OF IT LIKE IT, AND IT'S SAFE, AND SO I HAVE MANY THINGS I WAS GOING TO SAY, BUT A LOT OF IT'S BEEN SAID SO...
|
| 00:11:14 |
Boswell, Leonard L. - U.S. Representative, [D] Iowa
THAT KEVIN KELLER IS NOT THE EXECUTIVE DIRECTOR OF THE NORTH AMERICAN SECURITIES ADMINISTRATIVE ASSOCIATION. HE IS, IN FACT, THE EXECUTIVE DIRECTOR...
|
| 00:11:40 |
Frank, Barney - U.S. Representative, [D] Massachusetts
LONG-STANDING APPOINTED BY BOTH GOVERNORS OF BOTH PARTIES DENISE VOTE CRAWFORD. ARE WE READY TO VOTE? >> CAN I ASK A QUESTION? >> I'D JUST LIKE TO...
|
| 00:12:05 |
Frank, Barney - U.S. Representative, [D] Massachusetts
THE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS. >> ALL RIGHT. WITHOUT OBJECTION. >> MR. CHAIRMAN. >> GENTLEMAN FROM NORTH CAROLINA. >> THE LAST...
|
| 00:12:22 |
Bachus, Spencer - U.S. Representative, [R] Alabama
|
| 00:12:27 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 00:12:33 |
Watt, Melvin - U.S. Representative, [D] North Carolina
BETWEEN NOW AND JUNE 16, 2013 OR SOMETHING, IF SOMEBODY CAN ANSWER THAT FOR ME. >> 40 STATES HAVE ALREADY ADAPTED SUITABILITY REQUIREMENTS REQUIREMENTS,...
|
| 00:12:57 |
Meeks, Gregory - U.S. Representative, [D] New York
NAIC HAD RECENTLY DEVELOPED AND ENHANCED THOSE AMENDMENTS FOR 2006, SUITABILITY MODEL IN MARCH OF 2010. AND SO THE INSURANCE COMPANIES, AND WHAT THEY'RE...
|
| 00:13:14 |
Meeks, Gregory - U.S. Representative, [D] New York
|
| 00:13:41 |
Meeks, Gregory D-NY, -
BEEN DESCRIBED ABOUT WHETHER SOMEBODY WOULD BE DISQUALIFIED FROM SELLING THE PRODUCT? >> YES. THAT'S WHY THE SUITABILITY ISSUES, 40 STATES HAVE ALREADY...
|
| 00:13:44 |
Watt, Melvin - U.S. Representative, [D] North Carolina
|
| 00:13:55 |
Meeks, Gregory - U.S. Representative, [D] New York
|
| 00:14:02 |
Watt, Melvin - U.S. Representative, [D] North Carolina
|
| 00:14:19 |
Bachus, Spencer - U.S. Representative, [R] Alabama
|
| 00:14:41 |
Watt, Melvin - U.S. Representative, [D] North Carolina
|
| 00:14:44 |
Bachus, Spencer - U.S. Representative, [R] Alabama
OKAY. I'M SUFFICIENTLY CONFUSED, AND I YIELD
|
| 00:14:47 |
Bachus, Spencer R-AL, -
BACK. >> ALL IN FAVOR WILL SAY AYE. OPPOSED NO. NO. THE AYES -- ROLL CALL IS REQUESTED. ON THIS, WHO VOTES? JUST FINANCIAL SERVICES. ALTHOUGH MR....
|
| 00:14:53 |
Watt, Melvin - U.S. Representative, [D] North Carolina
|
| 00:15:07 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 00:15:27 |
Frank, Barney D-MA, -
KNOW. MR. KANJORS SKCHLT I. >> NO, BY INSTRUCTED PROXY. MISS WATERS? MISS WATERS? >> NO. >> MISS WATERS VOTES NO. MRS. MALONEY? >> NO. >> MRS. MALONEY...
|
| 00:15:33 |
Unidentified Speaker, -
|
| 00:15:38 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 00:15:43 |
Unidentified Speaker, -
|
| 00:15:47 |
Unidentified Speaker, -
|
| 00:15:53 |
Unidentified Speaker, -
|
| 00:16:15 |
Unidentified Speaker, -
|
| 00:16:38 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 00:16:58 |
Unidentified Speaker, -
|
| 00:17:05 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 00:17:19 |
Issa, Darrell - U.S. Representative, [R] California
|
| 00:17:25 |
Issa, Darrell - U.S. Representative, [R] California
|
| 00:17:35 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 00:17:40 |
Issa, Darrell - U.S. Representative, [R] California
THE OUTSIDE CONFERREES FROM GOVERNMENT OVERSIGHT WANTED, AND HAD ONLY HOPED TO GET. SO I WANT TO BE BRIEF AND SIMPLY SAY, MR. CHAIRMAN, THANK YOU,...
|
| 00:18:05 |
Issa, Darrell - U.S. Representative, [R] California
WAY. I WILL CONFESS THAT THE NEGOTIATIONS WERE NOT DONE IN PUBLIC. THEY WERE PRIVATE NEGOTIATIONS. SOMETIMES SOME PEOPLE LIKE PRIVATE NEGOTIATIONS...
|
| 00:18:43 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 00:19:06 |
Frank, Barney - U.S. Representative, [D] Massachusetts
THROUGH TECHNOLOGY IS A BIPARTISAN ISSUE, AND IT WAS
|
| 00:19:14 |
Bachus, Spencer - U.S. Representative, [R] Alabama
THE STAFFS OF BOTH THE MAJORITY AND MINORITY STAFFS OF BOTH GOVERNMENT OVERSIGHT AND FINANCIAL SERVICES THAT WORK TOGETHER, AND THAT'S WHERE MOST OF...
|
| 00:19:19 |
Bachus, Spencer - U.S. Representative, [R] Alabama
|
| 00:19:35 |
Frank, Barney - U.S. Representative, [D] Massachusetts
ORIGINALLY PROPOSED BY MR. GRAYSON, A MEMBER OF THE COMMITTEE ALTHOUGH NOT OF THE CONFERENCE ON THE QUESTION OF THE TIMING AND RELEASE OF INFORMATION....
|
| 00:19:40 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 00:20:22 |
Frank, Barney - U.S. Representative, [D] Massachusetts
LOANS? WHAT TIME -- >> LET, COULD I -- LET ME -- WE'LL DEAL WITH THIS AMENDMENT THEN I'LL PUT THE QUESTION OF THE MISCELLANEOUS. SO THE QUESTION IS I'VE...
|
| 00:20:31 |
Bachus, Spencer - U.S. Representative, [R] Alabama
|
| 00:20:39 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 00:21:51 |
Bachus, Spencer - U.S. Representative, [R] Alabama
|
| 00:22:05 |
Frank, Barney - U.S. Representative, [D] Massachusetts
THIS REQUIRING THE RELEASE VERSION, I THINK JUST ABOUT THE FED, WHICH REQUIRES THE RELEASE OF INFORMATION WHICH IS NOT NOW RETIRED TO BE RELEASED. ...
|
| 00:22:07 |
Frank, Barney - U.S. Representative, [D] Massachusetts
CHAIRMAN. THE CHAIRMAN KNOWS THAT I HAVE WORKED VIGOROUSLY WITH MR. GRAYSON, AND MR. PAUL THROUGHOUT THIS PROCESS TRYING TO FIND COMMON GROUND WITH...
|
| 00:22:34 |
Watt, Melvin - U.S. Representative, [D] North Carolina
EXPRESS MY OPPOSITION TO IT, AND HOPE THAT MY COLLEAGUES SUPPORT ME BUT I'VE LOST THAT FIGHT SEVERAL TIMES. >> GENTLEMEN, WE ARE SENDING THIS TO THE...
|
| 00:23:03 |
Frank, Barney - U.S. Representative, [D] Massachusetts
NO. THE AYES HAVE IT THE AMENDMENT IS SENT OVER. NEXT WE HAVE, I'M NOW GOING TO PUT THE QUESTION ON THE MISCELLANEOUS PACKAGE, WHICH DOES NOT INCLUDE...
|
| 00:23:22 |
Frank, Barney - U.S. Representative, [D] Massachusetts
CORRECT? >> YES, MR. CHAIRMAN, WE DO NOT HAVE THE REVISED OFFER. >> THE
|
| 00:23:47 |
Frank, Barney - U.S. Representative, [D] Massachusetts
SENATE SENT US AN OFFER, WE HAVE PROPOSED -- THERE WAS A REPUBLICAN AMENDMENT TO SIMPLY, I GUESS INSIST ON THE HOUSE POSITION AS-IS, AND THEN THERE WAS...
|
| 00:23:57 |
Bachus, Spencer - U.S. Representative, [R] Alabama
|
| 00:24:02 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 00:24:56 |
Peterson, Collin - U.S. Representative, [D] Minnesota
IN AN ATTEMPT TO REACH AGREEMENT ON THIS TITLE, THE FUTURES TRADING COMMISSION AND THE DEPARTMENT OF TREASURY HAVE WORKED ON LANGUAGE THAT WAS OFFERED...
|
| 00:25:15 |
Peters, Gary - U.S. Representative, [D] Michigan
NO DISCUSSION, I NOW CALL FOR A VOTE ON SENDING THIS OFFER ON TITLE 8 TO OUR SENATE COLLEAGUES. THOSE IN FAVOR, SAY I. THE OFFER IS TENDERED. WE'RE...
|
| 00:27:08 |
Frank, Barney - U.S. Representative, [D] Massachusetts
I THANK YOU. WE'RE ABOUT TO PROPOSE -- I'M WAITING FOR THE DRAFT TO COME
|
| 00:27:32 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
DOWN ON RESPONDING TO TITLE 2. BUT OUR COLLEAGUE FROM TENNESSEE WHO DID A TREMENDOUS AMOUNT OF WORK ALONG WITH, AS I MENTIONED, MARK WARNER, FOR THE...
|
| 00:27:38 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
|
| 00:28:15 |
Corker, Bob - U.S. Senator, [R] Tennessee
OF BIPARTISAN I AM R INPUT AND I WANT TO THANK EVERYBODY FOR THAT. I REALLY WANTED TO SPEAK MORE TO THE HOUSE ON THIS AND IT TOOK PLACE IN THE RESOLUTION...
|
| 00:28:16 |
Corker, Bob - U.S. Senator, [R] Tennessee
WHOLE NOTION THAT WHEN WE HAD THIS CRISIS A COUPLE OF YEARS AGO, THE REGULATORS WERE LEFT WITH A CHOICE OF T.A.R.P. IN THEIR OWN MINDS OR WITH -- BECAUSE...
|
| 00:28:41 |
Corker, Bob - U.S. Senator, [R] Tennessee
IT BECAUSE THERE WERE TWO STRONG CRITICISMS OF THIS BILL. ONE, THAT IT'S TOO BIG. TWO, THAT IT'S TOO LITTLE. BECAUSE WE'RE BEING TOLD BY SOME THAT THE...
|
| 00:32:11 |
Frank, Barney - U.S. Representative, [D] Massachusetts
THAT REORGANIZES HOW YOU FINANCE AND ASSIGNS A PRIVATE SECTOR OPERATION TO THE FHA, I DON'T THINK THERE WAS ANY SUPPORT FOR FANNIE AND FREDDIE OR THE...
|
| 00:32:29 |
Frank, Barney - U.S. Representative, [D] Massachusetts
COUPLE MINUTES HERE BUT WE ACTUALLY DID GET SOME COOPERATION AND WITHOUT ANY REAL FORMAL ACTIVITY BY THE JUDICIARY COMMITTEE, A COUPLE OF STEPS IN...
|
| 00:34:13 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
MECHANISM -- WE'VE TALKED ABOUT THAT AND HOW IMPORTANT IT IS. I WOULD SAY THE THREE GREAT CONTRIBUTIONS BY OUR PREDECESSORS. IN THE WAKE OF THE GREAT...
|
| 00:34:38 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
A DISCUSSION THAT'S GONE FORWARD FROM THE HOUSE MAJORITY STAFF AND OTHERS ON FIDUCIARY. AND I NEED TO HAVE IT DISTRIBUTED AND OFFER A REVISED OFFER. ...
|
| 00:37:04 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 00:37:23 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
ON TITLE 2 AND IN MARCH OF LAST YEAR, WE AND WE WILL TAKE A BRIEF RECESS. >> VERY BRIEF RECESS. >> PENDING DISTRIBUTION AND I WOULD
|
| 00:37:26 |
Frank, Barney - U.S. Representative, [D] Massachusetts
ADVISE MEMBERS NOT TO LEAVE.
|
| 00:37:52 |
Frank, Barney - U.S. Representative, [D] Massachusetts
SECTION 913 HAS BEEN DISTRIBUTED. SO MEMBERS OF THE HOUSE, WANT TO CONVENE HERE? WE'RE GOING TO -- I'M GOING TO MOVE NOW, SUBMISSION TO THE SENATE OF...
|
| 00:38:23 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 00:40:03 |
Frank, Barney - U.S. Representative, [D] Massachusetts
WE'RE GOING TO LOOK AT IT. SENATOR JOHNSON HAS STRONG INTEREST IN IT. >>
|
| 00:42:09 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
SENATOR JOHNSON? CAN WE HAVE SOME WATER, PLEASE? >> THE PROPOSAL FROM THE HOUSE IS ACCEPTED. >> SO WE WILL -- UNLESS THERE'S FURTHER DEBATE ON THAT,...
|
| 00:42:11 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
|
| 00:45:31 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
|
| 00:45:34 |
Johnson, Tim P. - U.S. Senator, [D] South Dakota
|
| 00:45:37 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
FOR US. >>>
|
| 00:46:11 |
Dodd, Christopher D-CT, -
|
| 00:47:01 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
|
| 01:02:29 |
Frank, Barney - U.S. Representative, [D] Massachusetts
WE'RE GOING TO CONVENE. WE ARE READY TO DEAL WITH 10. IT'S BEEN DISTRIBUTED. IT'S THE HOUSE COUNTEROFFER, SENATE TITLE 9. I MOVE THAT AS THE OFFER...
|
| 01:02:43 |
Frank, Barney - U.S. Representative, [D] Massachusetts
GOING. AND THEN THERE ARE TWO PARTS, ONE OF WHICH MAY BE MORE CONTROVERSIAL THAN THE OTHER. FIRST, THE SENATE HAD A DRAFT OF THE REQUIREMENT OF THE...
|
| 01:02:59 |
Frank, Barney - U.S. Representative, [D] Massachusetts
PARLIAMENTARY QUESTION ABOUT TITLE 10. >> WE'RE ON TITLE 9 NOW. >> WELL, THEN I'LL WAIT. >> WE'LL GET TO TITLE -- BUT TO ANSWER THE PARLIAMENTARY INQUIRY,...
|
| 01:06:05 |
Capito, Shelley Moore - U.S. Representative, [R] West Virginia
|
| 01:06:15 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 01:06:41 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 01:06:53 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 01:12:30 |
Bachus, Spencer - U.S. Representative, [R] Alabama
GIVEN THE BROAD RANGE OF THE ECONOMY UNDER THE COMMISSION'S AUTHORITY. AND AS I UNDERSTAND THE ISSUE NOW, IT'S WHETHER OR NOT MAGNUSSON THEY ARE PROCEDURES...
|
| 01:12:48 |
Bachus, Spencer - U.S. Representative, [R] Alabama
|
| 01:14:14 |
Frank, Barney - U.S. Representative, [D] Massachusetts
THE PAYDAY LENDERS. THIS HAS BEEN A REAL SOURCE OF PAIN FOR MANY PLACES ACROSS THE COUNTRY, INCLUDING THE MILITARY BASIS WHERE WE'VE
|
| 01:14:39 |
Waters, Maxine - U.S. Representative, [D] California
HAD PAYDAY LENDERS SET UP OPERATIONS AND HOOKED MANY OF THE MILITARY FAMILIES ON LOANS WITH 400% INTEREST AND IN SOME CASES MORE. SO WHEN WE TALK ABOUT...
|
| 01:14:56 |
Waters, Maxine - U.S. Representative, [D] California
IT. WE ARE TRYING NOT TO EXEMPT IT. THE HOUSE VERSION -- THERE ARE THREES ASPECTS OF THE BUREAU. IT MAKES RULES, IT'S THE AR BY FOR ABOUT SPECIFIC...
|
| 01:16:38 |
Frank, Barney - U.S. Representative, [D] Massachusetts
DID IN OUR BILL WITH REGARD TO THE EXAMINATION PROCESS, WHICH CAN BE BURDENSOME, FOR BANKS UNDER $10 MILLION, THE EXAMINERS CAN JOIN IN. BUT WITH REGARD...
|
| 01:16:54 |
Frank, Barney - U.S. Representative, [D] Massachusetts
TWO SECTIONS OF TITLE 10. ONE, FOLLOWING UP ON THE LADY FROM CALIFORNIA, WE'RE TALKING ABOUT PAYDAY LENDERS AND ALL OF THE HEARINGS THAT I'VE BEEN TO,...
|
| 01:18:10 |
Hensarling, Jeb - U.S. Representative, [R] Texas
YEARS AGO AND PAYDAY LENDERS. I JUST STATE THAT AGAIN FOR THOSE WHO SAY WE ARE PASSING A BILL THAT HAS TO DO WITH FUTURE FINANCIAL STABILITY OF THE...
|
| 01:18:33 |
Hensarling, Jeb - U.S. Representative, [R] Texas
WITH REFORMS, AS MUCH AS MANY OF US BELIEVE THEM, THAT DEALT WITH THE PAST CRISIS. I'VE NEVER SAID THAT. ANYONE WHO SAID THAT, I WOULD JOIN AND SAY YOU'RE...
|
| 01:19:02 |
Frank, Barney - U.S. Representative, [D] Massachusetts
A CRISIS: CLEARLY WE HAVE A RULE THAT CAN DEAL WITH PAYDAY LENDERS. >> WILL THE GENTLEMEN YIELD? >> YES. >> THAT'S
|
| 01:19:29 |
Hensarling, Jeb - U.S. Representative, [R] Texas
AN ABSOLUTELY ABSURD ASSERTION. WHAT GUIDES US IS IN THE GENERAL BILL. THE PAYDAY LENDERS WERE IN THE HOUSE BILL. THAT'S A VERY DIFFERENT SITUATION....
|
| 01:19:53 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 01:20:07 |
Hensarling, Jeb - U.S. Representative, [R] Texas
|
| 01:22:58 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 01:23:43 |
Hensarling, Jeb - U.S. Representative, [R] Texas
|
| 01:23:48 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 01:23:57 |
Hensarling, Jeb - U.S. Representative, [R] Texas
|
| 01:24:09 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 01:27:55 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 01:28:10 |
Waxman, Henry - U.S. Representative, [D] California
THE AND THE FEDERAL TRADE COMMISSION, BECAUSE OF AN ANOMALY, OPERATES UNDER TWO DIFFERENT THOUGHT PROCEDURES. AND FOR WHAT THEY ARE DOING, THEY OPERATE...
|
| 01:28:27 |
Waxman, Henry - U.S. Representative, [D] California
OF THE OFFER, EXCEPT THE AUTOMOBILE DEAL WILL BE VOTED ON NOW. SO THE QUESTION IS, ON ACCEPTING THE COUNTEROFFER, THOSE IN FAVOR SAY AYE. OPPOSE NO....
|
| 01:29:39 |
Frank, Barney - U.S. Representative, [D] Massachusetts
AWARDED. LET ME EXPLAIN THE PARLIAMENTARY SITUATION. I'VE EXPLAINED SOMETHING AND I MISUNDERSTOOD THE PARLIAMENTARY SITUATION. IN THE COUNTER, COUNTEROFFER,...
|
| 01:29:58 |
Frank, Barney - U.S. Representative, [D] Massachusetts
GOES BACK TO THE WHAT I THINK IS THE WILL OF THIS CONGRESS ON BOTH SIDES. AND THAT IS THE ORIGINAL HOUSE OFFER THAT EXEMPTS CAR DEALERS FROM NOT JUST...
|
| 01:31:30 |
Capito, Shelley Moore - U.S. Representative, [R] West Virginia
THE EXPANDED POWERS THAT ARE ENUMERATED IN THE HOUSE OFFER UNDER THE FTC. WHAT I'M REALLY LOOKING FOR HERE, IF WE THINK ABOUT CAR DEALERS, THAT'S MAIN...
|
| 01:31:47 |
Capito, Shelley R-WV, -
RECOGNIZED. >> THANK YOU, MR. CHAIRMAN. AFTER REVIEW, I OPPOSE THIS AMENDMENT AND THE LANGUAGE PROPOSED BY THE HOUSE AND THEIR COUNTEROFFER ON THE AUTO...
|
| 01:33:51 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 01:33:56 |
Moore, Dennis - U.S. Representative, [D] Kansas
FROM MY PERSPECTIVE, THIS WILL PUT THE AUTO DEALERS AT THE SAME LEVEL OF BANKS UNDER $10 MILLION. I DON'T SEE THE NEED TO TREAT AUTO DEALERS OR COMMUNITY...
|
| 01:34:16 |
Moore, Dennis - U.S. Representative, [D] Kansas
WRONG, BUT THIS IS CALLED A WALL STREET REFORM BILL -- >> DOES THE GENTLEMAN YIELD? >> I THINK WE TOOK THE SENATE TITLE RESTORING FINANCIAL RESPONSIBILITY...
|
| 01:34:53 |
Bachus, Spencer - U.S. Representative, [R] Alabama
|
| 01:35:08 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 01:35:13 |
Bachus, Spencer - U.S. Representative, [R] Alabama
I'LL EITHER TAKE WALL STREET REFORM HOUSE BILL OR RESTORING FINANCIAL STABILITY. NOW, ASK YOURSELF, WHAT DID THE AUTOMOBILE DEALERS HAVE TO DO WITH...
|
| 01:35:14 |
Bachus, Spencer - U.S. Representative, [R] Alabama
|
| 01:35:16 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 01:35:20 |
Bachus, Spencer - U.S. Representative, [R] Alabama
FINANCIAL INSTABILITY? NO. ARE THEY A PART OF WALL STREET? NO. DID THEY SUFFER? YES. VERY MUCH SO. IN FACT, I DON'T KNOW OF ANY INDUSTRY THAT HAS...
|
| 01:35:27 |
Bachus, Spencer - U.S. Representative, [R] Alabama
BROUGHT IT TO THE HOUSE. IN THE BOSTON COMMITTEE IT PASSED. THE MAJORITY OF THE MEMBERS OF THE HOUSE DID NOT VOTE ON IT AND SOME MEMBERS ARE STILL GRATEFUL...
|
| 01:36:32 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 01:36:45 |
Bachus, Spencer - U.S. Representative, [R] Alabama
|
| 01:38:45 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 01:39:13 |
Garrett, Scott - U.S. Representative, [R] New Jersey
GENTLEMAN, DO YOU YIELD? >> SURE. >> ARE YOU TALKING
|
| 01:40:01 |
Garrett, Scott - U.S. Representative, [R] New Jersey
ABOUT THIS GENTLEMAN? >> I THINK SO. IT WAS IN ONE OF YOUR OPENING STATEMENTS. >> LET ME JUST BE CLEAR, THERE ARE A BUNCH OF THINGS IN THIS BILL THAT...
|
| 01:40:12 |
Watt, Melvin - U.S. Representative, [D] North Carolina
|
| 01:40:15 |
Garrett, Scott - U.S. Representative, [R] New Jersey
|
| 01:40:19 |
Watt, Melvin - U.S. Representative, [D] North Carolina
|
| 01:40:29 |
Garrett, Scott - U.S. Representative, [R] New Jersey
THAT HE MADE THAT STATEMENT, AND IN THIS BILL, IT IS NOT THE CAUSE OF THE CRISIS, BUT IN THIS SITUATION, MAYBE IT'S EVEN WORSE. A LOT OF INDUSTRIES...
|
| 01:40:36 |
Garrett, Scott - U.S. Representative, [R] New Jersey
BUSINESSES WHO HAVE BEEN IN THEIR FAMILY FOR GENERATIONS BECAUSE OF THIS CRISIS, ASKND NOW, WHAT DO WE DO? ARE WE REWARDING THEM FOR THEIR TOUGHNESS...
|
| 01:41:34 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 01:41:38 |
Garrett, Scott - U.S. Representative, [R] New Jersey
|
| 01:43:16 |
Watt, Melvin - U.S. Representative, [D] North Carolina
|
| 01:45:15 |
Watt, Melvin - U.S. Representative, [D] North Carolina
|
| 01:47:50 |
Garrett, Scott - U.S. Representative, [R] New Jersey
|
| 01:48:02 |
Watt, Melvin - U.S. Representative, [D] North Carolina
|
| 01:48:19 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 01:48:32 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 01:48:41 |
Unidentified Speaker, -
|
| 01:49:33 |
Unidentified Speaker, -
|
| 01:49:42 |
Frank, Barney - U.S. Representative, [D] Massachusetts
WE WE WILL HAVE THE MERCURY LEVEL AMENDMENT AND THEN WE'LL DEAL WITH DERIVATIVES. THE CARTO ANONS ARE OVER. >>>
|
| 01:49:56 |
Frank, Barney - U.S. Representative, [D] Massachusetts
|
| 01:50:32 |
Recess, -
SO ONCE AGAIN, HOUSE AND SENATE NEGOTIATORS AS THEY CONTINUE TO HAMMER OUT THE DETAILS OF THIS FINANCIAL REGULATIONS BILL. THEY'RE TAKING A BREAK RIGHT...
|
| 01:53:08 |
Unidentified Speaker, -
CSPAN-3. >>>
|
NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.