| 00:00:06 |
THE PRESIDING OFFICER, -
CHAPLAIN. LET US PRAY. O LORD, MASTER OF THE UNIVERSE AND EVERYTHING IN IT, YOUR GENEROSITY GIVES US LIFE, GIVES US HOPE, GIVES US THE IMAGINATION...
|
| 00:01:57 |
THE PRESIDING OFFICER, -
ALL. THE PRESIDING OFFICER: THE CLERK WILL READ A COMMUNICATION TO THE SENATE. THE CLERK: WASHINGTON, D.C, MAY 6, 2010. TO THE SENATE: UNDER THE PROVISIONS...
|
| 00:02:20 |
THE PRESIDING OFFICER, -
TEMPORE. MR. REID: MR. PRESIDENT? THE PRESIDING OFFICER: THE MAJORITY LEADER SMED.
|
| 00:02:24 |
THE CLERK, -
MR. REID: FOLLOWING LEADER REMARKS, THE SENATE WILL RESUME CONSIDERATION OF S. 3217, WHICH IS THE WALL STREET REFORM LEGISLATION. THE TIME UNTIL 10:00...
|
| 00:02:42 |
MR. REID, -
|
| 00:02:43 |
THE PRESIDING OFFICER, -
THAT
|
| 00:02:44 |
Reid, Harry - U.S. Senator, [D] Nevada
AMENDMENT. ADDITIONAL VOTES ARE EXPECTED TO OCCUR WITH RESPECT TO THE WALL STREET REFORM BILL. CURRENTLY THE SHELBY AMENDMENT REGARDING CONSUMER PROTECTION...
|
| 00:04:01 |
MR. LEAHY, -
|
| 00:04:02 |
THE PRESIDING OFFICER, -
CLAUDE PAMERLEAU,
|
| 00:04:04 |
Leahy, Patrick J. - U.S. Senator, [D] Vermont
WHO'S ALSO MY WIFE MARCEL'S BROTHER. AND HE IS, WITH THE GRACIOUS CONCURRENCE OF OUR CHAPLAIN, DR. BLACK, HAS OPENED THE SENATE ON OTHER OCCASIONS,...
|
| 00:05:19 |
THE PRESIDING OFFICER, -
A MOMENT
|
| 00:05:20 |
MR. LEAHY, -
THE LATEST TALKING POINTS THE OTHER SIDE IS USING ABOUT
|
| 00:05:23 |
MR. McCONNELL, -
REPUBLICANS, OUR
|
| 00:05:24 |
THE PRESIDING OFFICER, -
GOAL THROUGHOUT THIS DEBATE HAS BEEN TO PROTECT
|
| 00:05:26 |
McConnell, Mitch Jr. - U.S. Senator, [R] Kentucky
TAXPAYERS WHO GOT BURNED DURING THE LAST CRISIS AND LAST NIGHT'S VOTE SHOWED THAT THOSE EFFORTS ARE BEGINNING TO YIELD RESULTS. A $50 BILLION FUND FOR...
|
| 00:10:18 |
THE PRESIDING OFFICER, -
PURPOSES. THE PRESIDING OFFICER: UNDER THE PREVIOUS ORDER, THE TIME UNTIL 10:00 A.M. WILL BE FOR DEBATE ON AMENDMENT
|
| 00:10:28 |
THE CLERK, -
NUMBER 3749, WITH THE TIME EQUALLY DIVIDED AND CONTROLLED IN THE USUAL FORM. THE SENATOR FROM NEBRASKA. MR. JOHANNS: THANK YOU VERY MUCH, MADAM PRESIDENT....
|
| 00:10:41 |
THE PRESIDING OFFICER, -
TWO MINUTES THIS MORNING. BUT I WOULD LIKE TO STAND TO TAKE A MOMENT TO VOICE MY SUPPORT FOR THE TESTER-HUTCHISON AMENDMENT. THIS AMENDMENT WILL ENSURE...
|
| 00:10:58 |
Johanns, Mike - U.S. Senator, [R] Nebraska
FDIC. THE FDIC WOULD DETERMINE BANK PREMIUMS BY BASING IT ON TOTAL ASSETS, NOT JUST DOMESTIC DEPOSITS. FOR FAR TOO LONG, COMMUNITY BANKS HAVE PAID...
|
| 00:12:21 |
THE PRESIDING OFFICER, -
THANK YOU. MADAM PRESIDENT, I WANT TO JOIN MY COLLEAGUE, SENATOR TESTER, AND AN INCREASING NUMBER OF COSPONSORS
|
| 00:12:28 |
MRS. HUTCHISON, -
TO SUPPORT
|
| 00:12:29 |
THE PRESIDING OFFICER, -
OUR AMENDMENT WHICH WILL ENSURE THAT BANKS OF
|
| 00:12:31 |
MRS. HUTCHISON, -
ALL SIZES PAY
|
| 00:12:33 |
THE PRESIDING OFFICER, -
THEIR FAIR SHARE
|
| 00:12:34 |
MRS. HUTCHISON, -
IN DEPOSIT INSURANCE FOR THE RISK THEY POSE TO THE BANKING S OUR AMENDMENT IS INTENDED TO LEVEL THE
|
| 00:12:40 |
THE PRESIDING OFFICER, -
PLAYING FIELD FOR
|
| 00:12:41 |
Hutchison, Kay Bailey - U.S. Senator, [R] Texas
OUR SAFE COMMUNITY BANKS WHO FOR IF A TOO LONG HAVE PAID -- FOR FAR TOO LONG HAVE PAID ASSESSMENTS INTO THE FDIC INSURANCE FUND ABOVE AND BEYOND THE...
|
| 00:17:28 |
MR. DODD, -
FROM CONNECTICUT. MR.
|
| 00:17:29 |
THE PRESIDING OFFICER, -
DODD: LET ME COMMEND OUR
|
| 00:17:30 |
MRS. HUTCHISON, -
TWO COLLEAGUES, SENATOR TESTER AND SENATOR HUTCHISON, FOR THIS PROPOSAL. AS I SAID SEVERAL TIMES YESTERDAY, I THINK THIS IS A VERY SOUND CONTRIBUTION...
|
| 00:17:39 |
THE PRESIDING OFFICER, -
FOR THE
|
| 00:17:40 |
MRS. HUTCHISON, -
VERY REASONS THAT HAVE BEEN OUTLINED THIS MORNING BY SENATOR HUTCHISON AND
|
| 00:17:43 |
MR. DODD, -
SENATOR TESTER EARLIER,
|
| 00:17:45 |
MRS. HUTCHISON, -
REDUCING THE COST
|
| 00:17:46 |
MR. DODD, -
TO
|
| 00:17:47 |
THE PRESIDING OFFICER, -
OUR COMMUNITY BANKS AT A
|
| 00:17:49 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
TIME WHEN OBVIOUSLY THEY'RE ALL FEELING TREMENDOUS PRESSURES UNDER THIS ECONOMY. SO I'M A STRONG AND ARDENT SUPPORTER OF THEIR PROPOSAL AND HOPEFULLY...
|
| 00:24:32 |
Hutchison, Kay Bailey - U.S. Senator, [R] Texas
FROM MONTANA AND SENATOR FROM TEXAS AS WELL. WE'VE BEEN WORKING HARD ON THIS AMENDMENT. THE SENATOR JUST GOT THROUGH SPEAKING, I JUST WANT TO COMMEND...
|
| 00:24:46 |
MR. BROWNBACK, -
WORK THROUGH IN A BIPARTISAN MANNER, BECAUSE AS I'VE SAID
|
| 00:24:50 |
MR. BROWN, -
PUBLICLY MANY TIMES, THIS IS AN ISSUE THAT AFFECTS THE AMERICAN PEOPLE IN VERY SERIOUS WAYS. AND I DON'T WANT TO RUSH IT. I WANT TO DO IT RIGHT SO WE...
|
| 00:27:52 |
THE PRESIDING OFFICER, -
AND SUPPORT OF THIS AMENDMENT. I ALSO WANT TO
|
| 00:27:54 |
MR. BROWN, -
THANK SENATOR HUTCHISON'S HARD WORK ON THIS AMENDMENT. I VERY MUCH APPRECIATE HER ABILITY TO GET THINGS DONE IN A FAIR WAY. AND I THANK YOU VERY MUCH...
|
| 00:28:04 |
MR. TESTER, -
HUTCHISON. SENATOR HUTCHISON AND
|
| 00:28:05 |
THE PRESIDING OFFICER, -
I HAVE COME TO THE FLOOR
|
| 00:28:06 |
Tester, Jon - U.S. Senator, [D] Montana
SEVERAL TIMES TO TALK ABOUT THIS AMENDMENT, A BIPARTISAN AMENDMENT, A COMMONSENSE AMENDMENT TO HOLD BANKS ACCOUNTABLE FOR THEIR BEHAVIOR AND TO PRESERVE...
|
| 00:29:59 |
THE PRESIDING OFFICER, -
ROLL. VOTE: VOTE:VOTE: VOTE: THE PRESIDING OFFICER: ON THIS VOTE THE JAYCE ARE 98 -- THE NAYS ARE 98, THE NAYS ARE ZERO. THE AMENDMENT IS AGREED TO.
|
| 00:53:00 |
THE PRESIDING OFFICER, -
WITHOUT OBJECTION. MR. JOHANNS: MADAM PRESIDENT? THE PRESIDING OFFICER: THE SENATOR FROM NEBRASKA. MR. JOHANNS: MADAM PRESIDENT, THANK YOU. THE PRESIDING...
|
| 00:54:27 |
MR. JOHANNS, -
OF RANKING MEMBER
|
| 00:54:28 |
THE PRESIDING OFFICER, -
SHELBY
|
| 00:54:29 |
MR. JOHANNS, -
AND OTHERS WHO ARE MAKING THEIR WAY,
|
| 00:54:31 |
THE PRESIDING OFFICER, -
I THINK, THROUGH
|
| 00:54:32 |
Johanns, Mike - U.S. Senator, [R] Nebraska
A THOUGHTFUL PROCESS TO TRY TO GET A BILL, AN OVERALL BILL THAT WILL WORK. THIS PIECE OF THE BILL, THOUGH, IN MY JUDGMENT, NEEDS A TREMENDOUS AMOUNT...
|
| 01:07:10 |
MR. DODD, -
THIS CHAMBER
|
| 01:07:11 |
THE PRESIDING OFFICER, -
FROM TIME TO TIME BASED ON THEIR -- WHAT THEY'VE DONE IN THEIR
|
| 01:07:14 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
EARLIER LIVES. AND I JUST WANT TO THANK HER IMMENSELY FOR BRINGING HER BACKGROUND AND EXPERIENCE TO THIS CRITICAL DEBATE WE'RE HAVING. SHE SPENT A...
|
| 01:34:06 |
THE PRESIDING OFFICER, -
ME SAY THAT THERE IS -- THERE IS MUCH YET TO DO ON THIS SUBJECT OF TOO
|
| 01:34:11 |
MR. DODD, -
BIG TO
|
| 01:34:12 |
THE PRESIDING OFFICER, -
FAIL. I RECALL IN A
|
| 01:34:14 |
Dorgan, Byron L. - U.S. Senator, [D] North Dakota
ROOM JUST STEPS FROM HERE ON A FRIDAY, I BELIEVE IT WAS, THE FREASH SECRETARY LEANING OVER THE -- THE TREASURY SECRETARY LEANING OVER THE LECTURE IN...
|
| 01:44:00 |
MR. MERKLEY, -
WAY. AND I THINK THIS BILL
|
| 01:44:01 |
THE PRESIDING OFFICER, -
IS GOING TO IMPROVE OVER THE COURSE OF THIS DEBATE. IT IS AN ENORMOUSLY
|
| 01:44:07 |
Bennet, Michael - U.S. Senator, [D] Colorado
IMPORTANT TIEWRNTS TO SAFEGUARD -- OPPORTUNITY TO SAFEGUARD OUR ECONOMY FROM THE RECKLESS DANGER THAT GOT US INTO THIS MESS. I'M HOPEFUL THAT WE CAN...
|
| 01:51:14 |
MR. DODD, -
COLLEAGUE FROM NEW YORK, JUST
|
| 01:51:15 |
THE PRESIDING OFFICER, -
HAVING PEOPLE WHO UNDERSTAND THIS AND BRING
|
| 01:51:18 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
TO THIS CHAMBER A PREVIOUS LIFE, A RICH EXPERIENCE OF UNDERSTANDING THESE ISSUES; I CAN'T BEGIN TO TELL YOU HOW VALUABLE IT WAS. AND SO LET ME THANK...
|
| 01:52:32 |
MR. SCHUMER, -
THESE DAYS, AND I
|
| 01:52:33 |
THE PRESIDING OFFICER, -
THINK IT'S ALL TO THE BETTER.
|
| 01:52:35 |
Schumer, Charles E. - U.S. Senator, [D] New York
TO HAVE THEIR INPUT AND EXPERIENCE HAS BEEN VITAL. BUT, MR. CHAIRMAN, I WOULD ALSO SAY THAT YOU ARE FULL OF FRESH IDEAS AND VIM AND VIGOR. AND JUST...
|
| 02:01:50 |
THE PRESIDING OFFICER, -
WORST RECESSION SINCE THE
|
| 02:01:52 |
Feingold, Russell "Russ" - U.S. Senator, [D] Wisconsin
GREAT DEPRESSION. AND I THINK IT STILL REMAINS TO BE SEEN IF THIS BILL WILL DO THAT. WHILE IT CERTAINLY INCLUDES SOME GOOD REFORMS, MORE NEEDS TO BE...
|
| 02:10:56 |
MR. REED, -
THAT THEY'VE
|
| 02:10:57 |
THE PRESIDING OFFICER, -
ANNOUNCED FROM THE VERY BEGINNING OF
|
| 02:10:59 |
Reed, John "Jack" F. - U.S. Senator, [D] Rhode Island
THESE DISCUSSIONS AND DELIBERATIONS. THEY DO NOT WANT A INDEPENDENT CONSUMER PROTECTION AGENCY THAT HAS THE AUTHORITY TO MAKE RULES AND ENFORCE RULES...
|
| 02:18:00 |
MR. KAUFMAN, -
A
|
| 02:18:01 |
THE PRESIDING OFFICER, -
STRONG, INDEPENDENT CONSUMER FINANCE PROTECTION AGENCY.
|
| 02:18:03 |
Kaufman, Edward "Ted" E. - U.S. Senator, [D] Delaware
THE PROBLEM WITH PUTTING -- AND I HAVE HEARD MANY DIFFERENT PROPOSALS TO PUT THE CONSUMER PRODUCT FINANCE PROTECTION AGENCY HERE OR THERE OR EVERYWHERE,...
|
| 02:23:17 |
MR. BROWN, -
SIX LARGEST BANKS, ONLY AFFECT
|
| 02:23:19 |
MR. KAUFMAN, -
THEIR SIZE. IT WILL AFFECT SMALLER BANKS
|
| 02:23:21 |
Brown, Sherrod - U.S. Senator, [D] Ohio
AND HELPING THEM BE MORE COMPETITIVE AS YOU SUGGESTED, BUT YOU HAD SAID SOMETHING ON THE FLOOR YESTERDAY, SENATOR KAUFMAN, THAT IN EFFECT THE SIZE...
|
| 02:24:51 |
Kaufman, Edward "Ted" E. - U.S. Senator, [D] Delaware
AREA, I DON'T GO OUT AND DO A SURVEY OF 27 PEOPLE. I GO AND SAY WHAT IS THE MARKET TELLING US? WHAT IS THE MARKET TELLING US ABOUT WHAT'S GOING ON? AND...
|
| 02:25:41 |
Brown, Sherrod - U.S. Senator, [D] Ohio
THOSE BIG BANKS HAVE OPPORTUNITIES TO GET LARGER. IF THEY ARE -- IF THE FIELD IS NOT LEVEL, IF THE PLAYING FIELD IS NOT LEVEL, THOSE TO WHOM IT TILTS,...
|
| 02:26:20 |
Kaufman, Edward "Ted" E. - U.S. Senator, [D] Delaware
YOU'RE TOO BIG TO FAIL AND I LISTEN TO THE MARKET. THAT'S ONE OF THE REALLY IMPORTANT CONSIDERATIONS. UNLESS PEOPLE MISUNDERSTAND -- I HEAR PEOPLE SAY...
|
| 02:32:08 |
Brown, Sherrod - U.S. Senator, [D] Ohio
THAT SIX BANKS, THE LARGEST SIX BANKS IN THE UNITED STATES AND 15 YEARS AGO WERE 17% OF OUR G.D.P. AND TODAY THEY'RE 63% AND -- AND GROWING, AS YOU...
|
| 02:35:13 |
MR. CAWFER MAN, -
WHETHER IT WENT DOWN. WHEN IT WENT DOW DO WE REALLY WANT TO GET INTO THIS MIX IN EUROPE? IS THIS THE PLACE WE WANT TO
|
| 02:35:23 |
Kaufman, Edward "Ted" E. - U.S. Senator, [D] Delaware
BE? , WITH THESE BANKS, BASED ON THE PROBLEMS THEY'RE GOING TO HAVE RIGHT NOW, AS WE WENT THROUGH EARLIER? IS THIS THE PLACE WE WANT TO BE? I THINK...
|
| 02:38:28 |
THE PRESIDING OFFICER, -
ON THIS FLOOR OVER THIS BILL, I
|
| 02:38:30 |
Corker, Bob - U.S. Senator, [R] Tennessee
WILL SAY TO THE SENATOR FROM CONNECTICUT, HAS BEEN OF THE HIGHEST LEVEL I CAN REMEMBER IN A LONG TIME. AND I WANT TO THANK HIM FOR SETTING THAT TONE....
|
| 02:43:30 |
THE PRESIDING OFFICER, -
TO WHERE I WAS? OKAY. I THINK THAT STATE BANKS ACROSS THE COUNTRY
|
| 02:43:37 |
Corker, Bob - U.S. Senator, [R] Tennessee
HAVE ENJOYED -- AGAIN, THESE ARE THE SMALLER INSTITUTIONS -- THEY HAVE ENJOYED THE FACT THAT THERE IS SOMETHING CALLED FEDERAL PREEMPTION. BECAUSE WHAT...
|
| 02:48:18 |
THE PRESIDING OFFICER, -
RESPOND A LITTLE LATER BECAUSE MY COLLEAGUE
|
| 02:48:20 |
MR. DODD, -
AND FRIEND FROM MINNESOTA IS ON THE FLOOR TO BE HEARD. JUST TO SAY ON THIS BILL, A LOT OF WORK WENT INTO THIS. I MUST SAY OVER THE LAST NUMBER OF YEARS,...
|
| 02:48:35 |
THE PRESIDING OFFICER, -
WE WATCHED PAINFULLY WHAT CAN HAPPEN OVER
|
| 02:48:37 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
THE LAST SEVEN YEARS WHEN THE VERY PEOPLE, THE PRUDENTIAL REGULATORS SHOULD HAVE BEEN STANDING UP AND SAYING NO-DOC LOANS ARE WRONG AND DANGEROUS. IN...
|
| 02:51:18 |
MR. FRANKEN, -
IT
|
| 02:51:19 |
THE PRESIDING OFFICER, -
REANS IN TOO BIG TO FAIL. --
|
| 02:51:21 |
Franken, Al - U.S. Senator, [D] Minnesota
IT REINS IN TOO BIG TO FAIL. IT BRINGS DERIVATIVES OUST OF THE SHADOW. IT CREATES A NEW CONSUMER WATCHDOG THAT WILL PRIORITIZE CONSUMER PRESIDENT CLINTON...
|
| 03:00:07 |
THE PRESIDING OFFICER, -
PROTECTION. OUR SYSTEM IS BROKE AND IT NEEDS FIXING. WE REALIZE THAT.
|
| 03:00:12 |
Shelby, Richard C. - U.S. Senator, [R] Alabama
MADAM PRESIDENT, THE RECENT FINANCIAL CRISIS HAS REVEALED THAT OUR FINANCIAL REGULATORS WERE ASLEEP AT THE SWITCH AND HAD NEGLECTED TO UPHOLD THEIR...
|
| 03:18:06 |
THE PRESIDING OFFICER, -
WITH THE BIG BANK BAILOUT PROVISION THAT WE WORKED
|
| 03:18:10 |
Alexander, Lamar - U.S. Senator, [R] Tennessee
ON YESTERDAY. SENATOR DODD AND SENATOR SHELBY WORKED FOR A WHILE. SENATORS CORKER AND WARNER HAD WORKED BEFORE THAT, AND WE CAME UP WITH A CONCLUSION...
|
| 03:28:33 |
THE PRESIDING OFFICER, -
WE GOT TO WHERE WE ARE TODAY. WE HAVE EIGHT FEDERAL
|
| 03:28:38 |
Cardin, Benjamin "Ben" L. - U.S. Senator, [D] Maryland
REGULATORY ENTITIES THAT OVERSEE THE FINANCIAL SECTOR. NOW, THEIR AUTHORITY IS DIFFERENT, THEIR POWERS ARE DIFFERENT, THEIR ABILITY TO RESPOND TO A...
|
| 03:35:09 |
THE PRESIDING OFFICER, -
ALL FOREIGN AND DOMESTIC COMPANIES REGISTERED
|
| 03:35:13 |
Cardin, Benjamin "Ben" L. - U.S. Senator, [D] Maryland
WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION, THE S.E.C., TO REPORT IN OUR ANNUAL REPORT TO THE S.E.C. HOW MUCH THEY PAY EACH GOVERNMENT FOR ACCESS...
|
| 03:42:46 |
MR. BOND, -
OF THE AISLE AGREE ON
|
| 03:42:47 |
THE PRESIDING OFFICER, -
ONE THING -- ALL OF US WANT TO HOLD WALL STREET ACCOUNTABLE
|
| 03:42:51 |
Bond, Christopher "Kit" - U.S. Senator, [R] Missouri
FOR THE HAVOC WREAKED ON MAIN STREET. WE ALL AGREE WE NEED TO ENACT REFORM TO PREVENT ANOTHER FINANCIAL CRISIS, BUT WE HAVE SOME DISAGREEMENTS ON WHAT...
|
| 03:59:37 |
THE PRESIDING OFFICER, -
MRS. BOXER: MR. PRESIDENT? THE PRESIDING OFFICER: THE SENATOR FROM CALIFORNIA IS RECOGNIZED. MRS. BOXER: I ASK THAT THE QUORUM CALLING DISPTIONED W. THE...
|
| 04:08:30 |
MRS. BOXER, -
BUSINESS. MRS. BOXER: MR.
|
| 04:08:31 |
THE PRESIDING OFFICER, -
PRESIDENT, I WOULD LIKE TO TAKE SOME TIME
|
| 04:08:33 |
MRS. BOXER, -
TO SPEAK OUT AGAINST THE SHELBY AMENDMENT
|
| 04:08:35 |
THE PRESIDING OFFICER, -
AND URGE THAT
|
| 04:08:36 |
MRS. BOXER, -
IT BE DEFEATED AND, IF THAT'S APPROPRIATE AT THIS TIME, I WOULD TAKE SUCH TIME AS I MIGHT CONSUME.
|
| 04:08:41 |
THE PRESIDING OFFICER, -
THE PRESIDING OFFICER: THE SENATOR IS IN ORDER. MRS. BOXER: MR. PRESIDENT, THIS IS A PIVOTAL POINT IN THE DEBATE ON WALL STREET
|
| 04:08:51 |
Boxer, Barbara - U.S. Senator, [D] California
REFORM. WE NEVER WANT TO SEE WHAT HAPPENED TO THIS COUNTRY HAPPEN AGAIN WHERE THERE
|
| 04:09:01 |
THE PRESIDING OFFICER, -
WAS ESSENTIALLY A CRASH IN THE STOCK MARKET, PEOPLE HAD
|
| 04:09:06 |
Boxer, Barbara - U.S. Senator, [D] California
BEEN TALKED INTO VERY EXOTIC AND DIFFICULT-TO-UNDERSTAND SUBPRIME MORTGAGES, AND WE HAD SUCH GREED RUNNING RAMPANT ON WALL STREET THAT INSTRUMENTS WERE...
|
| 04:19:35 |
THE PRESIDING OFFICER, -
FOR CONSUMERS SINCE 19 # 4 --
|
| 04:19:38 |
Boxer, Barbara - U.S. Senator, [D] California
SINCE 1984. BUT LET'S SAY THEY WERE ABLE TO GET NEW RULES WRITTEN. LET'S SAY THEY WERE ABLE TO DO THAT. SENATOR SHELBY INSURES THAT THE RULES THEY...
|
| 04:22:21 |
THE PRESIDING OFFICER, -
MEASURE THE SUCCESS OF OUR COUNTRY BY THE MILLION-DOLLAR BONUSES OR
|
| 04:22:26 |
Merkley, Jeffery "Jeff" - U.S. Senator, [D] Oregon
THE BILLION-DOLLAR QUARTERLY PROFITS ON WALL STREET. WE SHOULD MEASURE IT BY THE SUCCESS OF OUR FAMILIES, AND THIS BILL -- THE FINANCIAL REFORM BILL...
|
| 04:30:02 |
MR. DURBIN, -
AN AGENCY WITH INDEPENDENT AUTHORITY
|
| 04:30:05 |
MR. MERKLEY, -
TO
|
| 04:30:06 |
Durbin, Richard "Dick" J. - U.S. Senator, [D] Illinois
PROTECT AMERICANS, BUT MORE IMPORTANTLY, TO EMPOWER AMERICANS TO MAKE THE RIGHT DECISIONS WHEN THEY'RE TAKING OUT A MORTGAGE, A LOAN FOR THE CAR, A...
|
| 04:31:28 |
Merkley, Jeffery "Jeff" - U.S. Senator, [D] Oregon
THERE, WE'RE PERHAPS MORE AT RISK, BECAUSE WE HAVE FEWER LARGER BANKS AND MANY INVESTMENT HOUSES THAT WERE INDEPENDENT ARE NOW INSIDE THOSE BANKS IN...
|
| 04:32:19 |
MR. DURBIN, -
TELLING AMERICA WHAT THEY WERE UP TO, IT WAS ONLY AFTER THAT HEARING WHEN IT
|
| 04:32:23 |
MR. MERKLEY, -
ALL BECAME VERY
|
| 04:32:24 |
Durbin, Richard "Dick" J. - U.S. Senator, [D] Illinois
PUBLIC THAT THE REPUBLICANS FINALLY BACKED OFF THEIR FILIBUSTER, BACKED OFF THEIR DELAY OF THIS LEGISLATION, AND NOW LET US COME FORWARD AND DEBATE AND...
|
| 04:33:11 |
Merkley, Jeffery "Jeff" - U.S. Senator, [D] Oregon
TO STRENGTHEN THIS BILL. AND NOW WE DO SEE THAT NOW THE AMENDMENT HAS COME OUT AND BEEN PLACED BEFORE US PUBLICLY, IT DOES AS WE FEAR. IT'S DESIGNED...
|
| 04:33:45 |
Durbin, Richard "Dick" J. - U.S. Senator, [D] Illinois
THAT FAILED ANDS, IN JOBS THAT WERE LOST, ISN'T IT CRITICALLY IMPORTANT THAT THIS BILL FROM THE SENATE BANKING COMMITTEE MOVE FORWARD AND THAT EACH...
|
| 04:34:29 |
Merkley, Jeffery "Jeff" - U.S. Senator, [D] Oregon
WHOSE HOUSES ARE UNDER WATER IF THEY'RE LUCKY, FOR MANY FAMILIES IT MEANS LOSS OF A JOB, LOSS OF HEALTH CARE, LOSS TO MAKE THOSE MORTGAGE PAYMENTS AT...
|
| 04:35:19 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
WE'VE HAD -- IN THE COMMITTEE MEETING, IT IS BY SENIORITY. AND I'VE GOT THIS CLUSTER OF NEW MEMBERS DOWN AT THE END OF THIS COMMITTEE TABLE, AND THE...
|
| 04:37:35 |
MR. ENZI, -
|
| 04:37:36 |
THE PRESIDING OFFICER, -
BIPARTISANSHIP. THE AMENDMENT THAT'S BEFORE YOU IS AN ATTEMPT
|
| 04:37:39 |
Enzi, Michael "Mike" B. - U.S. Senator, [R] Wyoming
TO CORRECT SOME OF THE THINGS THAT ARE IN THE BILL. THE FILIBUSTER WAS MENTIONED. WELL, THE FILIBUSTER WAS -- BOUGHT ENOUGH THYME SENATOR DODD AND SENATOR...
|
| 04:53:18 |
THE PRESIDING OFFICER, -
TO DO TOO LITTLE. I THINK IT'S IMPORTANT FOR
|
| 04:53:21 |
LeMieux, George - U.S. Senator, [R] Florida
US TO REMEMBER WHAT WE'RE TRYING TO ADDRESS. WE'RE TRYING TO ADDRESS THE FINANCIAL MARKET MELTDOWN THAT HAPPENED IN 2008 AND THE RAMIFICATIONS THAT...
|
| 05:00:49 |
THE PRESIDING OFFICER, -
THE AMENDMENT THAT HE WILL OFFER IS ONE THAT WE OUGHT TO HAVE A DEBATE ON AND WE OUGHT
|
| 05:00:52 |
THE PRESIDING OFFICER, -
TO HAVE A VOTE ON. AND
|
| 05:00:53 |
Thune, John R. - U.S. Senator, [R] South Dakota
I HOPE THAT THIS BODY WILL ACT IN A WAY THAT LEADS TO MORE RESPONSIBLE PRACTICES AND A HIGHER LEVEL OF RESPONSIBILITY, BOTH WITH BORROWERS AND LENDERS...
|
| 05:15:47 |
THE PRESIDING OFFICER, -
CONSUMER PROTECTION BILL. NOT A
|
| 05:15:50 |
Menendez, Robert "Bob" - U.S. Senator, [D] New Jersey
WALL STREET PROTECTION BILL. A STRONG INDEPENDENT AGENCY THAT CAN AGGRESSIVELY DEFEND FAMILIES IN ALL SECTORS OF THE FINANCIAL INDUSTRY. THAT'S --...
|
| 05:22:39 |
THE PRESIDING OFFICER, -
DON'T OFTEN ACKNOWLEDGE THESE THINGS, BUT IF I HAD TO PICK ONE OF MY COLLEAGUES TO BE IN
|
| 05:22:44 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
MY CORNER AS AN ADVOCATE, I WOULD PICK BOB MENENDEZ EVERY TIME. WHEN HE IS AS FOCUSED ON MATTERS SUCH AS THIS ONE, THERE IS NO BETTER ADVOCATE THAN HIM....
|
| 05:26:07 |
Menendez, Robert "Bob" - U.S. Senator, [D] New Jersey
HITS IT RIGHT ON THE POINT. IN THE CONTEXT OF THE RATING AGENCIES, THEY WERE PLAYING COACH AND REFER. WELL, WHEN YOU'RE PLAYING COACH AND REFER, --...
|
| 05:27:11 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
THAT SECTION, 1015-A -- AND THIS AMENDMENT, BY THE WAY, TALK ABOUT A BUREAUCRACY, A LONG AMENDMENT HERE. BUT IN 1015-A, IT SAYS -- "THE CHAIRPERSON...
|
| 05:30:20 |
THE PRESIDING OFFICER, -
|
| 05:30:35 |
MR. DODD, -
|
| 05:30:39 |
THE PRESIDING OFFICER, -
A SENATOR: MR. PRESIDENT? MR. DODD: BEFORE GOING TO THE VOTE, I ASK UNANIMOUS CONSENT THAT THE SENATE NOW PROCEED TO A VOTE WITH RESPECT TO THE SHELBY...
|
| 05:31:25 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
UP AN AMENDMENT RELATING TO G.S.E.'S, AND THAT AFTER THE McCAIN AMENDMENT HAS BEEN REPORTED BY NUMBER, THE SENATE THEN RESUME CONSIDERATION OF THE SANDERS...
|
| 05:31:57 |
THE PRESIDING OFFICER, -
TO OVER 150 AMENDMENTS. WHEN I SAY TO
|
| 05:32:01 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
MY COLLEAGUES -- THERE ARE ACTUALLY MORE AMENDMENTS ON THE DEMOCRATIC SIDE THAN THE REPUBLICAN SIDE. NOT MANY MORE, BUT MORE. I URGE MY COLLEAGUES TO...
|
| 05:33:27 |
THE PRESIDING OFFICER, -
IEKSZ VOTE: VOTE: THE PRESIDING OFFICER: ARE THERE ANY MEMBERS WISHING TO CHANGE -- TO VOTE OR TO CHANGE THEIR VOTE? IF NOT, WE HAVE 38 YEAS AND 61 NAYS....
|
| 06:00:04 |
THE PRESIDING OFFICER, -
OBJECTION. A SENATOR: MR. PRESIDENT? THE PRESIDING OFFICER: THE SENATOR FROM VERMONT. MR. DODD: MR. PRESIDENT, BEFORE -- THE PRESIDING OFFICER: THE ...
|
| 06:00:30 |
THE PRESIDING OFFICER, -
MINUTE AGO. SENATOR SANDERS' AMENDMENT.
|
| 06:00:33 |
MR. DODD, -
HE HAS ASKED FOR
|
| 06:00:35 |
THE PRESIDING OFFICER, -
80 MINUTES TO BE
|
| 06:00:36 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
EQUALLY DIVIDED ON HIS AMENDMENT. WE'LL THEN TURN TO THE McCAIN AMENDMENT -- OR GO TO THE McCAIN AMENDMENT U I'M HOPING WE GET A TIME AGREEMENT ON THAT...
|
| 06:02:03 |
MR. DODD, -
FIND OUT
|
| 06:02:04 |
Reid, Harry - U.S. Senator, [D] Nevada
DIFFERENT CATEGORIES AND NOT HAVE EVERYBODY OFFER THE SAME AMENDMENT IN SEVEN DIFFERENT LANGUAGES. SO I THINK OUR GOAL TONIGHT SHOULD BE TO TRY TO...
|
| 06:03:05 |
MR. DODD, -
IT IF
|
| 06:03:06 |
MR. REID, -
SOMEONE US INSISTS UPON UNLIMIT
|
| 06:03:10 |
MR. DODD, -
THELIMITED TIME OR MORE TIME. WE YOU A KNOW THESE ISSUES PRETTY WELL. THIS IS NOT AS IF THIS IS A NEW BILL. I'M NOT ASKING FOR IT RIGHT NOW. THINK...
|
| 06:03:39 |
McConnell, Mitch Jr. - U.S. Senator, [R] Kentucky
LEGISLATION. AND I THINK THE MAJORITY LEADER AND I HAD A GOOD CONVERSATION EARLIER TODAY ABOUT HOW TO GO FORWARD AND WE'LL JUST KEEP WORKING ON IT...
|
| 06:04:15 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
I APPRECIATE THE MAJORITY LEADER'S POINT OF TRYING TO CONSOLIDATE, IF SEVERAL MEMBERS HAVE THE SAME IDEA ABOUT SOMETHING. MAYBE IT CAN BE BROUGHT TOGETHER...
|
| 06:05:03 |
Shelby, Richard C. - U.S. Senator, [R] Alabama
CAN WORK TOGETHER AND WE CAN WORK THROUGH SOME OF THEM BECAUSE A LOT OF THEM ARE DUPLICATION, TO SOME DEGREE. SOME OF THEM WE CAN TAKE. AND SENATOR DODD...
|
| 06:05:42 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
AND SUNDAY HERE ALL DAY WITH PEOPLE TO GO OVER THEIR PRODUCT SO WE CAN MAYBE EXPEDITE THINGS NEXT WEEK AS WELL. WITH THAT -- A SENATOR: MR. PRESIDENT?...
|
| 06:06:11 |
Reid, Harry - U.S. Senator, [D] Nevada
AMENDMENT. SOMEBODY CAN SAY QUITE A BIT IN FIVE MINUTES. I JUST THINK WE'RE GOING TO HAVE TO HAVE SOME GUIDELINES AS TO WHAT WE'RE GOING TO DO. EVERYBODY...
|
| 06:07:34 |
MR. DODD, -
NUMBER 3739. MR. SANDERS: I ASK THAT THE AMENDMENT BE CONSIDERED AS
|
| 06:07:38 |
MR. SANDERS, -
READ. THE PRESIDING OFFICER:
|
| 06:07:39 |
THE PRESIDING OFFICER, -
WITHOUT
|
| 06:07:42 |
MR. SANDERS, -
OBJECTION. MR. SANDERS:
|
| 06:07:45 |
THE PRESIDING OFFICER, -
MR. PRESIDENT, THIS
|
| 06:07:47 |
THE CLERK, -
AMENDMENT --
|
| 06:07:56 |
MR. SANDERS, -
MR. PRESIDENT,
|
| 06:07:59 |
THE PRESIDING OFFICER, -
THIS AMENDMENT, WHICH CALLS FOR TRANSPARENCY AT THE FED, IS FRANKLY ONE OF THE
|
| 06:08:05 |
Sanders, Bernard "Bernie" - U.S. Senator, [I] Vermont
MORE UNUSUAL AMENDMENTS THAT I HAVE EVER PARTICIPATED IN, NOT SO MUCH FOR ITS CONTENT BUT FOR THE KIND OF COALITION THAT HAS COME TOGETHER AROUND IT....
|
| 06:19:52 |
Sanders, Bernard "Bernie" - U.S. Senator, [I] Vermont
SERVES ON THE BOARD OF GOLDMAN SACHS, APPROVED GOLDMAN'S APPLICATION TO BECOME A BANK HOLDING COMPANY, GIVING IT ACCESS TO CHEAP LOANS FROM THE FEDERAL...
|
| 06:39:39 |
THE PRESIDING OFFICER, -
COLLEAGUE FROM VERMONT. HE BRINGS
|
| 06:39:41 |
MR. DODD, -
GREAT FOOTION THIS -- PASSION
|
| 06:39:46 |
MR. GRASP, -
TO THIS ISSUE. BUT
|
| 06:39:47 |
THE PRESIDING OFFICER, -
WHEN SENATOR SANDERS GETS INVOLVED IN SOMETHING, YOU
|
| 06:39:49 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
BETTER BELIEVE HE DOES IT WITH A GREAT DEAL OF CONVICTION AND PASSION AND PURPOSE. AND I'M A COSPONSOR OF THIS AMENDMENT HE'S JUST MODIFIED. I THINK...
|
| 06:40:49 |
MR. SANDERS, -
AND ACTIVITIES WHEN IT GIVES MONEY
|
| 06:40:51 |
MR. GRASSLEY, -
|
| 06:40:52 |
THE PRESIDING OFFICER, -
|
| 06:40:53 |
Grassley, Charles "Chuck" E. - U.S. Senator, [R] Iowa
OUT. THERE'S ALL KINDS OF REASONS WHY IT SHOULDN'T APPLY TO MONETARY POLICY, BUT FOR EVERYTHING ELSE, THE FEDERAL RESERVE IS ACTING AT THE BEHEST OF...
|
| 06:47:31 |
MR. SANDERS, -
SANDERS AND SENATOR DeMINT
|
| 06:47:33 |
THE PRESIDING OFFICER, -
FOR
|
| 06:47:35 |
MR. SANDERS, -
PUTTING FORWARD, BRINGING THIS AMENDMENT TO THE FLOOR. I'M A COSPONSOR OF THIS AMENDMENT ALONG WITH SEVERAL OF MY OTHER COLLEAGUES. MR. BROWNBACK: I...
|
| 06:48:03 |
Brownback, Samuel "Sam" - U.S. Senator, [R] Kansas
MONETARY POLICY, THEY ARE CONCERNED ABOUT THE MONEY SYSTEM. THEY ARE -- THEY ARE CONCERNED. AND I WOULD NOTE TO PEOPLE AND MY COLLEAGUES IN PARTICULAR,...
|
| 06:58:58 |
MR. SANDERS, -
|
| 06:58:59 |
THE PRESIDING OFFICER, -
|
| 06:59:02 |
MR. SANDERS, -
MUCH. THE PRESIDING OFFICER: THE CLERK WILL CALL THE ROLL. QUORUM CALL: MR. COBURN: MADAM
|
| 06:59:23 |
THE PRESIDING OFFICER, -
PRESIDENT? THE PRESIDING OFFICER: THE SENATOR FROM OKLAHOMA. MR. COBURN: THANK YOU. YEAH, THAT'S FINE. THANK YOU. THANK YOU, MADAM PRESIDENT. I WANTED...
|
| 06:59:43 |
MR. COBURN, -
THAT
|
| 06:59:44 |
THE PRESIDING OFFICER, -
THE QUORUM CALL BE DISPENSED WITH. THE PRESIDING
|
| 06:59:46 |
MR. COBURN, -
OFFICER: WITHOUT OBJECTION. MR. COBURN: AS WE WATCHED THE DEBATE THE LAST SIX DAYS ON THE FINANCIAL REGULATION REFORM BILL, I THOUGHT
|
| 06:59:55 |
THE PRESIDING OFFICER, -
IT WOULD BE INTERESTING JUST TO RAISE A FEW QUESTIONS. THE
|
| 07:00:03 |
MR. COBURN, -
CONGRESS, BOTH THE HOUSE AND
|
| 07:00:06 |
THE PRESIDING OFFICER, -
THE
|
| 07:00:07 |
Coburn, Thomas "Tom" A. M.D. - U.S. Senator, [R] Oklahoma
SENATE, CREATED WHAT WAS CALLED THE FINANCIAL INQUIRY COMMISSION. AS A MATTER OF FACT, THEY HAD A MEETING TODAY. AND THE PURPOSE OF THAT COMMISSION,...
|
| 07:25:21 |
MR. DORGAN, -
DISAGREE. BUT LET ME START WITH
|
| 07:25:22 |
THE PRESIDING OFFICER, -
THE AGREEMENT. WHEN MY COLLEAGUES SAYS
|
| 07:25:24 |
Dorgan, Byron L. - U.S. Senator, [D] North Dakota
IF YOU ARE TOO BIG TO FAIL, YOU'RE TOO BIG AND YOU OUGHT TO GET SMALLER, I FULLY AGREE WITH THAT, AND I HAVE AN AMENDMENT THAT WOULD SAY IF YOU'RE TOO...
|
| 07:44:10 |
MR. DeMINT, -
SOMEONE GOT
|
| 07:44:11 |
THE PRESIDING OFFICER, -
IT WRONG,
|
| 07:44:13 |
DeMint, James "Jim" - U.S. Senator, [R] South Carolina
CREATED A DOMINO EFFECT OF ONE THING FALLING AFTER ANOTHER, AND BEFORE WE KNOW IT, THE STOCK MARKET WAS DOWN A THOUSAND DOLLARS -- OR A THOUSAND POINTS....
|
| 07:55:49 |
THE PRESIDING OFFICER, -
BUT I ALSO WANT TO COMMENT ON WHAT HAPPENED IN THE MARKET TODAY. THE
|
| 07:55:52 |
Warner, Mark R. - U.S. Senator, [D] Virginia
STOCK MARKET WAS DOWN ABOUT 347 POINTS, BUT WHAT WAS MORE TELLING WAS THE STOCK MARKET AT ONE POINT TODAY APPROACHED A LOSS OF A THOUSAND POINTS, WHICH...
|
| 07:58:37 |
Kaufman, Edward "Ted" E. - U.S. Senator, [D] Delaware
KNOW. BUT WHAT HAPPENED OVER THE YEARS, WE WENT FROM A MARKET THAT WAS BASICALLY A FLOOR-BASED MARKET TO A MARKET THAT WAS DIGITALIZATION AND DECIMALIZATION,...
|
| 08:01:44 |
Warner, Mark R. - U.S. Senator, [D] Virginia
A RESULTSTOCK. THIS WAS A RESULT OF SOME OF THE LACK OF OVERSIGHT. THERE WOULD BE NOBODY IN THIS CHAMBER THAT IS MORPH AN VOASKT TECHNOLOGY AND THE...
|
| 08:03:46 |
MR. KAUFMAN, -
DESIGNED TO END THE TAXPAYER-BACKED CONSERVATORSHIP OF FANNIE MAE AND FREDDIE MAC BY PUTTING
|
| 08:03:55 |
MR. McCAIN, -
IN PLACE
|
| 08:03:56 |
THE PRESIDING OFFICER, -
AN ORDERLY TRANSITION PERIOD
|
| 08:03:59 |
McCain, John S. III - U.S. Senator, [R] Arizona
AND EVENTUALLY REQUIRING THEM TO OPERATE WITHOUT GOVERNMENT SUBSIDIES ON A LEVEL PLAYING FIELD WITH THEIR PRIVATE-SECTOR COMPETITORS. THE EVENTS OF...
|
| 08:29:45 |
THE PRESIDING OFFICER, -
AT THE SAME
|
| 08:29:47 |
McCain, John S. III - U.S. Senator, [R] Arizona
TIME MAKING SURE THE G.S.E.'S OPERATE IN A MANNER THAT DOES NOT EXPOSE OUR FINANCIAL SYSTEM OR TAXPAYERS TO UNNECESSARY RISK. IT IS VITALLY IMPORTANT...
|
| 08:54:22 |
MR. WHITEHOUSE, -
|
| 08:54:23 |
THE PRESIDING OFFICER, -
UNANIMOUS CONSENT THAT
|
| 08:54:25 |
Whitehouse, Sheldon - U.S. Senator, [D] Rhode Island
CHAIRMAN PATRICK LEAHY, SENATOR JIM WEBB AND SENATOR BOB CASEY ALL BE ADDED AS COSPONSORS TO THE AMENDMENT. THE PRESIDING OFFICER: WITHOUT OBJECTION....
|
| 08:54:56 |
THE PRESIDING OFFICER, -
I HAVE NOT LAID DOWN THE AMENDMENT BECAUSE I UNDERSTAND THAT THE SENATOR FROM CONNECTICUT
|
| 08:54:59 |
MR. WHITEHOUSE, -
WOULD MOVE TO TABLE, AND THERE ARE NUMEROUS MEMBERS THAT WANT TO TALK ON THIS ISSUE, THIS MULTITRILLION DOLLAR ISSUE. SO NO, I HAVE NOT -- BUT
|
| 08:55:08 |
MR. DODD, -
I CAN ALSO ASSURE THE SENATOR FROM CONNECTICUT IF I PROPOSE THE AMENDMENT AND IT IS TABLED WITHOUT PROPER
|
| 08:55:16 |
McCain, John S. III - U.S. Senator, [R] Arizona
DEBATE, THERE WILL BE ANOTHER AMENDMENT JUST LIKE IT. MR. DODD: LET ME SAY TO MY -- MY FRIEND, HE IS MY FRIEND FROM ARIZONA, I HAVE NO INTENTION OF...
|
| 08:55:41 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
BASICALLY ALL HAVE AMENDMENTS THEY WANT TO GET HEARD ON. EVERYONE THINKS THEIR AMENDMENT IS PRETTY IMPORTANT, I RESPECT THAT. ALL I WANT TO LOOK FOR...
|
| 08:56:38 |
McCain, John S. III - U.S. Senator, [R] Arizona
LIST AND THE TIME THAT THEY WANT TO DISCUSS. IN ALL DUE RESPECT TO ALL THE OTHER AMENDMENTS -- AND I DON'T SAY THIS VERY OFTEN -- WHEN WE'RE TALKING...
|
| 08:57:28 |
MR. DURBIN, -
OUR LEADER, BUT YES, THAT'S FINE. OUR TWO LEADERS SAY IT'S FINE. THANK YOU. MR. DODD: AND I THANK THE SENATOR FROM ARIZONA. AND WE HAVE SENATOR SANDERS'...
|
| 08:57:38 |
MR. McCAIN, -
WHICH I THINK WE HAVE REACHED A LOT OF CONSENSUS ON. I'D LIKE TO SEE US GET A VOTE
|
| 08:57:44 |
MR. DURBIN, -
ON IT. I KNOW THERE ARE SOME ISSUES
|
| 08:57:48 |
MR. McCAIN, -
THAT -- I WON'T MENTION IT AT ALL, BUT MY HOPE IS OUR COLLEAGUES MIGHT LET US GO TO
|
| 08:57:53 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
THIS. IS THERE ANY CHANCE OF THAT AT ALL? WOULD SOMEONE GET BACK TO ME? WELL, I WOULD MOVE -- I WOULD MOVE THE SANDERS' AMENDMENT. THE PRESIDING...
|
| 08:58:24 |
THE PRESIDING OFFICER, -
|
| 08:58:35 |
MR. DODD, -
THE PRESIDING OFFICER: THERE IS NOT A SUFFICIENT SECOND. MR. SANDERS: POINT OF ORDER? HOW MANY HANDS DO YOU NEED UP? THE PRESIDING OFFICER: WE NEED...
|
| 08:59:01 |
THE PRESIDING OFFICER, -
THE PRESIDING OFFICER: THE ORDER OF THE YEAS AND NAYS DOES NOT FORCE A VOTE
|
| 08:59:05 |
MR. SANDERS, -
ON THE AMENDMENT. ORDERING THE YEAS AND NAYS DOES NOT FORCE A VOTE
|
| 08:59:10 |
THE PRESIDING OFFICER, -
ON THE AMENDMENT. THE CLERK WILL CALL THE
|
| 08:59:22 |
THE PRESIDING OFFICER, -
ROLL. QUORUM CALL: VOTE: THE PRESIDING OFFICER: IS QUORUM IS NOT PRESENT. THE MAJORITY LEADER IS RECOGNIZED. MR. REID: -- PRESENCE OF ABSENT SENATORS....
|
| 09:03:21 |
THE PRESIDING OFFICER, -
MOTION.
|
| 09:03:36 |
MR. REID, -
|
| 09:03:38 |
THE PRESIDING OFFICER, -
THE PRESIDING OFFICER: THE CLERK WILL CALL THE ROLL. VOTE:
|
| 09:04:10 |
THE PRESIDING OFFICER, -
VOTE: VOTE: VOTE: VOTE: VOTE: THE PRESIDING OFFICER: ARE THERE ANY SENATORS WISHING TO VOTE OR TO CHANGE THEIR VOTE? IF NOT, THE YEAS ARE 61. THE NAYS...
|
| 10:12:02 |
THE PRESIDING OFFICER, -
IS RECOGNIZED.
|
| 10:12:19 |
MR. REID, -
|
| 10:12:20 |
THE PRESIDING OFFICER, -
QUORUM CALL: MR. REID: MR. PRESIDENT? THE PRESIDING OFFICER: THE MAJORITY LEADER IS RECOGNIZED. THE SENATE WILL COME TO ORDER. MR. REID: MR. PRESIDENT?...
|
| 10:20:22 |
MR. REID, -
|
| 10:20:23 |
THE PRESIDING OFFICER, -
AM SOMETIMES A PATIENT PERSON AND I'M REALLY DOING MY BEST TO BE PATIENT. I AM -- AM GOING INTO THIS WITH GOOD, AS I HOPE MY REPUBLICAN
|
| 10:20:35 |
MR. REID, -
COLLEAGUES
|
| 10:20:37 |
THE PRESIDING OFFICER, -
ARE.
|
| 10:20:38 |
MR. REID, -
WE HAVEN'T GOTTEN A LOT
|
| 10:20:40 |
THE PRESIDING OFFICER, -
DONE. IT'S AN ISSUE WE'RE --
|
| 10:20:43 |
Reid, Harry - U.S. Senator, [D] Nevada
THE ISSUE WE'RE WORKING ON IS VERY IMPORTANT. BUT I'D JUST TELL MY FRIENDS ON THE OTHER SIDE OF THE AISLE, WE DON'T NEED TO FILIBUSTER BY SOME OTHER...
|
| 10:24:24 |
Reid, Harry - U.S. Senator, [D] Nevada
ASK CONSENT THAT IT BE IN ORDER FOR A DEMOCRATIC SIDE-BY-SIDE TO THE McCAIN G.S.E. AMENDMENT AND THAT CARDIN AMENDMENT NUMBER 3840 WOULD BE CONSIDERED...
|
| 10:25:19 |
THE PRESIDING OFFICER, -
TO GETTING AMENDMENTS PREPARED. IT
|
| 10:25:21 |
MR. McCONNELL, -
IS TO OUR ADVANTAGE TO
|
| 10:25:23 |
THE PRESIDING OFFICER, -
HAVE
|
| 10:25:25 |
McConnell, Mitch Jr. - U.S. Senator, [R] Kentucky
AMENDMENT VOTES AND WE'RE GOING TO WORK HARD TO GET THEM IN THE QUEUE AND TO GET THEM VOTED ON. THE PRESIDING OFFICER: IS THERE
|
| 10:25:34 |
MR. REID, -
OBJECTION? WITHOUT OBJECTION, SO
|
| 10:25:37 |
McConnell, Mitch Jr. - U.S. Senator, [R] Kentucky
ORDERED. MS. CANTWELL: MR. PRESIDENT? THE PRESIDING OFFICER:
|
| 10:25:52 |
THE PRESIDING OFFICER, -
THE SENATOR FROM WASHINGTON IS RECOGNIZED. MS. CANTWELL: THANK YOU, MR. PRESIDENT. THE PRESIDING OFFICER: THE SENATE IS NOT IN ORDER. IF THE SENATOR...
|
| 10:26:11 |
MS. CANTWELL, -
|
| 10:26:12 |
THE PRESIDING OFFICER, -
SUSPEND.
|
| 10:26:15 |
MS. CANTWELL, -
MS. CANTWELL: MR. PRESIDENT,
|
| 10:26:16 |
THE PRESIDING OFFICER, -
I ASK THAT THE PENDING AMENDMENT BE SET ASIDE AND CALL UP MY AMENDMENT NUMBER 3786, AS MODIFIED. THE PRESIDING OFFICER: THE CLERK WILL REPORT. THE...
|
| 10:26:36 |
Cantwell, Maria - U.S. Senator, [D] Washington
FURTHER ASK THAT SENATORS MERKLEY, BROWN OF OHIO -- THE PRESIDING OFFICER: THE SENATOR WILL SUSPEND. THE SENATE'S NOT IN
|
| 10:26:43 |
THE PRESIDING OFFICER, -
ORDER. MS. CANTWELL: I FURTHER ASK THAT SENATORS MERKLEY, SENATORS
|
| 10:26:46 |
THE CLERK, -
BROWN OF OHIO AND SHAHEEN BE ADDED AS COSPONSORS. THE PRESIDING OFFICER:
|
| 10:26:51 |
MS. CANTWELL, -
WITHOUT OBJECTION. MR.
|
| 10:26:53 |
THE PRESIDING OFFICER, -
DODD: DODD: MR. PRESIDENT, I WOULD LIKE TO BE ADDED
|
| 10:26:55 |
MS. CANTWELL, -
AS A COSPONSOR. MS. CANTWELL: AND OBVIOUSLY SENATOR DODD. THE PRESIDING
|
| 10:26:59 |
THE PRESIDING OFFICER, -
OFFICER: WITHOUT OBJECTION. MS. CANTWELL: THANK YOU, MR. PRESIDENT. MY AMENDMENT STRENGTHENS THE COMMODITIES FUTURE
|
| 10:27:04 |
MS. CANTWELL, -
TRADING COMMISSION'S AUTHORITY TO GO AFTER MANIPULATION AND ATTEMPTED MANIPULATION IN THE SWAPS AND COMMODITIES MARKETS. IT MAKES
|
| 10:27:11 |
THE PRESIDING OFFICER, -
IT UNLAWFUL TO MANIPULATE OR ATTEMPT TO MANIPULATE
|
| 10:27:14 |
MR. DODD, -
THE PRICE OF A SWAP OR COMMODITY USING ANY
|
| 10:27:18 |
MS. CANTWELL, -
|
| 10:27:19 |
THE PRESIDING OFFICER, -
MANIPULATIVE
|
| 10:27:20 |
Cantwell, Maria - U.S. Senator, [D] Washington
DEVICE OR CONTRIVANCE. NOW, SOME PEOPLE MIGHT BE THINKING, WHY DO WE NEED LEGISLATION LIKE THAT, DON'T WE ALREADY HAVE SOMETHING IN PLACE? UNFORTUNATELY,...
|
| 10:41:33 |
THE PRESIDING OFFICER, -
WITHOUT OBJECTION. THE SENATOR FROM OHIO IS RECOGNIZED. MR. BROWN: MR. PRESIDENT, I CALL UP AMENDMENT 3733. THE PRESIDING OFFICER: THE CLERK WILL REPORT....
|
| 10:41:48 |
MR. DODD, -
AMENDMENT NUMBERED
|
| 10:41:49 |
THE PRESIDING OFFICER, -
3739.
|
| 10:41:51 |
MR. DODD, -
ON PAGE 92 -- MR. BROWN: MR. PRESIDENT,
|
| 10:41:53 |
THE PRESIDING OFFICER, -
I ASK UNANIMOUS CONSENT TO -- THE PRESIDING OFFICER: WITHOUT OBJECTION. MR.
|
| 10:41:57 |
MR. BROWN, -
BROWN: THANK YOU, MR. PRESIDENT. THE PRESIDING OFFICER: THE SENATOR FROM OHIO
|
| 10:42:00 |
THE PRESIDING OFFICER, -
IS RECOGNIZED. MR. BROWN:
|
| 10:42:02 |
THE CLERK, -
THE KAUFMAN-BROWN AMENDMENT WITH 14 COSPONSORS WOULD SCALE BACK THE SIX LARGEST BANKS IN THE NATION, REQUIRING THEM TO SPIN-OFF INTO SMALLER, MORE MANAGEABLE...
|
| 10:42:13 |
MR. BROWN, -
THEIR DEBTS.
|
| 10:42:15 |
THE PRESIDING OFFICER, -
THESE SIX
|
| 10:42:17 |
MR. BROWN, -
BANKS'
|
| 10:42:19 |
THE PRESIDING OFFICER, -
ASSETS TOTAL $9 TRILLION. OUR AMENDMENT ENDS BAILOUTS BY ENSURING THAT NO WALL STREET
|
| 10:42:22 |
Brown, Sherrod - U.S. Senator, [D] Ohio
FIRM IS SO BIG OR SO RECKLESS THAT IT FAILS, AS DOES SO DOES OUR ECONOMY. THE BILL WE'RE CONSIDERING TODAY IS STRONG BUT IT NEEDS TO BE STRONGER. IT...
|
| 10:44:53 |
Kaufman, Edward "Ted" E. - U.S. Senator, [D] Delaware
TO CAPITAL WAS 40-1. THIS BILL WOULD CAP IT AT 16. BEAR STEARNS WOULD NOT HAVE FAILED. WE SHOULD NOT LEAVE THIS FOR THE REGULATORS N.1933, OR FOREBEARERS...
|
| 10:45:37 |
THE PRESIDING OFFICER, -
A VERY SIMPLE SECOND-DEGREE AMENDMENT TO ACTUALLY SUPPORT THE
|
| 10:45:40 |
MR. ENSIGN, -
UNDERLYING AMENDMENT. BUT WHAT MY SECOND-DEGREE SAYS IS SIMPLY THAT
|
| 10:45:43 |
THE PRESIDING OFFICER, -
SAYS FANNIE MAE AND FREDDIE MAC WILL BE
|
| 10:45:45 |
THE CLERK, -
SUBJECT TO THE SAME LIMITS. TOO BIG TO FAIL, EVERYBODY'S BEEN TALKING ABOUT THAT. THAT IS ONE OF THE PROBLEMS. ALL THIS
|
| 10:45:53 |
MR. ENSIGN, -
INTERCONNECTEDDIVENESS OF OUR
|
| 10:45:55 |
THE PRESIDING OFFICER, -
FINANCIAL MARKETS, WHEN ONE IS TOO BIG
|
| 10:45:57 |
Ensign, John - U.S. Senator, [R] Nevada
TO FAIL, IT DRAWS THE ENTIRE MARKET DOWN. THAT'S WHY TARP WAS NEEDED. THAT'S WHY, YOU KNOW, PEOPLE HAVE JUSTIFIED A LOT OF THE BAILOUTS. FANNIE AND FREDDIE,...
|
| 10:48:21 |
THE PRESIDING OFFICER, -
MR. PRESIDENT, LET ME YIELD TWO MINUTES TO MY COLLEAGUE FROM VIRGINIA, SENATOR WARNER, A MEMBER OF THE BANKING COMMITTEE. THE PRESIDING OFFICER: THE...
|
| 10:48:36 |
MR. DODD, -
GOALS. I DO BELIEVE THE
|
| 10:48:38 |
THE PRESIDING OFFICER, -
CHAIRMAN'S BILL ADDRESSES THOSE GOALS. WE HAVE A
|
| 10:48:41 |
MR. DODD, -
10% TOTAL LIABILITIES OF THE U.S. IN THE EXISTING BILL RIGHT NOW. WE ONLY HAVE
|
| 10:48:47 |
THE PRESIDING OFFICER, -
FOUR OF THE LARGEST 50 BANKS
|
| 10:48:49 |
Warner, Mark R. - U.S. Senator, [D] Virginia
IN THE WORLD THAT ARE AMERICAN DOMICILE BASED. I BELIEVE THIS ARBITRARY ASSET CAPSIZE IS NOT THE APPROPRIATE -- CAP SIZE IS NOT THE APPROPRIATE RESTRICTION....
|
| 10:50:06 |
MR. DODD, -
COUNTRY
|
| 10:50:07 |
THE PRESIDING OFFICER, -
TODAY ARE GOING THROUGH THE G.S.E.'S, FANNIE AND
|
| 10:50:10 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
FREDDIE. WITHOUT THEM, THERE IS NO HOUSING MARKET IN THE COUNTRY. AND SO BEFORE WE DECIDE TO DO THIS WITHOUT ANY ALTERNATIVE IN PLACE -- AND CLEARLY...
|
| 10:51:49 |
MR. ENSIGN, -
MR. ENSIGN: WE HAVE
|
| 10:51:50 |
THE PRESIDING OFFICER, -
NOT REFORMED THE
|
| 10:51:52 |
Ensign, John - U.S. Senator, [R] Nevada
G.S.E.'S WHAT NEEDS TO BE DONE. MR. DODD: DON'T TELL ME WE HAVEN'T DONE ANYTHING. MR. ENSIGN: THIS IS ONE LARGE STEP TO DOING THAT AND I BELIEVE WE SHOULD...
|
| 10:52:04 |
MR. DODD, -
WHY WE HAVE TO LIMIT THE SIZE OF THEM. SO I WOULD ENCOURAGE OUR COLLEAGUES TO SUPPORT THIS
|
| 10:52:10 |
MR. ENSIGN, -
AMENDMENT. MR. GREGG: MR. PRESIDENT? THE PRESIDING OFFICER: THE SENATOR FROM NEW HAMPSHIRE. MR. DPEG: HAS ALL THE TIME BEEN USED UP IN OPPOSITION TO...
|
| 10:52:16 |
MR. DODD, -
AMENDMENT?
|
| 10:52:18 |
Ensign, John - U.S. Senator, [R] Nevada
THE PRESIDING OFFICER: THE SENATOR FROM CONNECTICUT HAS TWO MINUTES REMAINING. THE SENATOR FROM OHIO HAS 1 MINUTE AND 45 MINUTES REMAINING. AS DOES...
|
| 10:52:30 |
MR. GREGG, -
NEVADA. MR. GREGG:
|
| 10:52:31 |
THE PRESIDING OFFICER, -
I WOULD JUST ASK THE SENATOR FOR A MINUTE
|
| 10:52:33 |
MR. DPEG, -
ON THIS. I DON'T UNDERSTAND THIS BROWN AMENDMENT. BASICALLY WHAT IT SAYS IS
|
| 10:52:38 |
THE PRESIDING OFFICER, -
IF YOU'RE SUCCESSFUL -- WE'RE NOT TALKING ABOUT TOO BIG TO FAIL HERE. WE'RE TALKING ENTITIES, BUSINESSES THAT ARE BIG, YES. THEY'RE ACTUALLY NOT AS...
|
| 10:52:51 |
Gregg, Judd Alan - U.S. Senator, [R] New Hampshire
A NATION COMPETE WITH, BUT THEY'RE LARGE, BUT THEY'RE SUCCESSFUL. AND YOU'RE GOING TO BREAK THEM UP? I MEAN, WHERE DOES THIS STOP? DO WE TAKE McDONALD'S...
|
| 10:54:10 |
THE PRESIDING OFFICER, -
AMERICA'S LARGEST BUSINESSES, SAYS TOO BIG -- TALKING ABOUT THESE BANKS, TOO BIG IS -- TOO BIG TO FAIL IS TOO BIG AND I THINK THAT SUMS IT UP PRETTY...
|
| 10:54:21 |
MR. DODD, -
VOTE ON THE BROWN
|
| 10:54:22 |
THE PRESIDING OFFICER, -
|
| 10:54:25 |
Brown, Sherrod - U.S. Senator, [D] Ohio
AMENDMENT. THE PRESIDING OFFICER: IS THERE OBJECTION TO ORDERING THE YEAS AND NAYS ON THE BROWN AMENDMENT? WITHOUT OBJECTION. IS THERE SUFFICIENT SECOND?...
|
| 10:54:53 |
THE PRESIDING OFFICER, -
CORRECT. THE QUESTION'S ON THE ENSIGN AMENDMENT. THE YEAS AND NAYS ARE ORDERED. -- WERE ORDERED. THE CLERK WILL CALL THE
|
| 10:55:06 |
MR. DODD, -
|
| 10:55:08 |
THE PRESIDING OFFICER, -
|
| 10:55:09 |
MR. DODD, -
ROLL. VOTE:
|
| 10:55:12 |
THE PRESIDING OFFICER, -
VOTE: THE PRESIDING OFFICER: ARE THERE ANY SENATORS WISHING TO VOTE OR CHANGE THEIR VOTE?
|
| 11:16:05 |
THE PRESIDING OFFICER, -
THE PRESIDING OFFICER: ARE THERE ANY SENATORS WISHING TO VOTE OR TO CHANGE THEIR VOTE? IF NOT, ON THIS, THE YEAS ARE 35, THE NAYS ARE 59. THE AMENDMENT...
|
| 11:16:27 |
THE PRESIDING OFFICER, -
IS ON THE BROWN AMENDMENT. THE YEAS AND NAYS HAVE BEEN ORDERED. THE CLERK WILL CALL THE ROLL. VOTE: THE PRESIDING OFFICER: ORDER IN THE SENATE. VOTE:
|
| 11:26:58 |
THE PRESIDING OFFICER, -
VOTE: THE PRESIDING OFFICER: ARE THERE ANY SENATORS WISHING TO VOTE OR TO CHANGE A VOTE? IF NOT, ON THIS THE YEAS ARE 33, THE NAYS ARE 61. THE AMENDMENT...
|
| 11:34:28 |
THE PRESIDING OFFICER, -
OBJECTION. MR. DODD: MR. PRESIDENT? THE PRESIDING OFFICER: THE SENATOR FROM CONNECTICUT. MR. DODD: THERE ARE NO FURTHER VOTES TODAY, AND AS I UNDERSTAND...
|
| 11:34:56 |
MR. DODD, -
PARTS OF THE BILL OR
|
| 11:34:57 |
THE PRESIDING OFFICER, -
AMENDMENTS THAT WE STILL HAVE TO CONSIDER. I THINK
|
| 11:35:00 |
Dodd, Christopher "Chris" J. - U.S. Senator, [D] Connecticut
WE ALL HEARD THE MAJORITY LEADER, SENATOR REID, MAKE THE POINT THAT I MADE EARLIER, AND THAT IS THAT I INTEND TO BE HERE ALL WEEKEND. MY STAFF AND SENATOR...
|
| 11:37:11 |
THE PRESIDING OFFICER, -
MR. SCHUMER: MR. SCHUMER: MR. PRESIDENT, I ASK UNANIMOUS CONSENT THE QUORUM BE DISPENSED WITH. THE PRESIDING OFFICER: WITHOUT OBJECTION. MR. SCHUMER:...
|
| 11:45:13 |
MR. SCHUMER, -
H.R. 5160, WHICH WAS RECEIVED FROM THE HOUSE
|
| 11:45:16 |
MR. SCHUMER, -
AND IS AT THE DESK. THE PRESIDING OFFICER: THE CLERK WILL
|
| 11:45:19 |
THE PRESIDING OFFICER, -
REPORT. THE CLERK:
|
| 11:45:20 |
Schumer, Charles E. - U.S. Senator, [D] New York
H.R. 5160, AN ACT TO EXTEND THE CARIBBEAN BASIN ECONOMIC RECOVERY ACT TO
|
| 11:45:27 |
THE PRESIDING OFFICER, -
PROVIDE CUSTOMS SUPPORT SERVICES TO HAITI AND FOR OTHER
|
| 11:45:29 |
Schumer, Charles E. - U.S. Senator, [D] New York
PURPOSES. THE PRESIDING OFFICER: WITHOUT OBJECTION, THE SENATE WILL PROCEED TO THE MEASURE. MR. SCHUMER: I ASK UNANIMOUS CONSENT THAT THE BILL BE...
|
| 11:45:38 |
THE PRESIDING OFFICER, -
TIME. THE PRESIDING OFFICER: THE CLERK WILL READ THE BILL FOR THE THIRD TIME. THE CLERK:
|
| 11:45:42 |
THE CLERK, -
H.R. 5160, AN ACT TO EXTEND THE CARIBBEAN BASIN ECONOMIC RECOVERY ACT TO PROVIDE CUSTOMS SUPPORT SERVICES TO HAITI AND FOR OTHER PURPOSES. THE PRESIDING
|
| 11:45:51 |
THE PRESIDING OFFICER, -
OFFICER: IS THERE FURTHER DEBATE?
|
| 11:45:54 |
MR. SCHUMER, -
IF NOT, THE QUESTION IS ON THE PASSAGE OF THE BILL. THOSE IN FAVOR
|
| 11:45:59 |
THE PRESIDING OFFICER, -
SAY AYE. THOSE OPPOSED, NO. THE AYES APPEAR
|
| 11:46:03 |
THE CLERK, -
TO HAVE IT. THE AYES DO HAVE IT. THE BILL IS PASSED. MR. SCHUMER: SCHUMER: I ASK UNANIMOUS CONSENT THE MOTION TO RECONSIDER BE LAID
|
| 11:46:11 |
THE PRESIDING OFFICER, -
UPON THE TABLE WITH NO INTERVENING ACTION OR DEBATE AND ANY STATEMENTS RELATED TO THE BILL BE PLACED IN THE RECORD AT THE APPROPRIATE PLACE AS IF READ....
|
| 11:46:29 |
Schumer, Charles E. - U.S. Senator, [D] New York
THAT WHEN THE SENATE COMPLETES ITS BUSINESS TODAY, IT ADJOURN UNTIL 9:30 A.M. FRIDAY, MAY 7. THAT FOLLOWING THE PRAYER AND PLEDGE, THE JOURNAL OF PROCEEDINGS...
|
| 11:46:39 |
THE PRESIDING OFFICER, -
DATE, THE MORNING HOUR BE DEEMED EXPIRED, THE TIME FOR THE TWO LEADERS RESERVED FOR THEIR USE LATER IN THE DAY AND THE SENATE RESUME CONSIDERATION OF...
|
| 11:46:48 |
Schumer, Charles E. - U.S. Senator, [D] New York
WALL STREET REFORM. THE PRESIDING OFFICER: THE CLERK WILL REPORT. WITHOUT OBJECTION. MR. SCHUMER: MR. PRESIDENT, THERE WILL BE NO ROLL CALL VOTES DURING...
|
| 11:47:10 |
THE PRESIDING OFFICER, -
|
| 11:47:14 |
MR. SCHUMER, -
|
| 11:47:23 |
THE PRESIDING OFFICER, -
7th THE
|
NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.