we know he's not going to stop. he will keep going and going like he always does. he reminds us it is possible to persevere through even the most difficult obstacles life people for the years he's dedicated to. serving. i'm going to join my colleaguesk in saluting the public life of senator barbara mikulski. i want to think thank a woman t isn't here, the debate coach when she was in high school at the institute of notre dame, the same school nancy pelosi graduated from as a young

barbara mikulski was preparing to debate they told her get out there and -- i am proud and relieved i didn't have her in a debate. she can still roll those boys or anyone else that tries to stand in the way of helping children, women, seniors are advancing veterans. she's been my colleague for 20 f years, friend, chairman, and ranking member so many times and inspiration. most my colleagues do my first job was in the senate as an

intern and like barbara mikulski paul douglas was the champion for the underdog. every year the university chooses a leader of decency and courage to receive the government award and this year i was honored to present the award on behalf of the university of illinois. senator douglas would be proud she's carrying on the traditione something i hope and trust i will see the see them at the ceg will break into there will be a woman elected president and when that day comes you can assure senator barbara mikulski.

first woman ever elected to statewide in her beloved state of maryland, first democratt elected the u.s to the u.s. houd senate, barbara mikulski, first woman to ever serve as the head co of the set of the appropriations committee. she's never been interested in simply being the first. she wants to be the first of many and she has been. they took her to the senate in 1986 and there were two women, democr democrat, two women in the chamber out of 100 senators sena today there are 20 and then b there will be 21, great progress

but not enough by barbara the mikulski's standards. the discoveries of the common cause, common trust made a big difference on the floor of the united states senate. her parents owned a small grocery store in baltimore and her two younger sisters lived across the street in one of the famous baltimore houses. as a younger girl she thought about becoming a catholic nun n but changed her mind and said that obedience slowed me down a little bit so she found other ways to practice the social

gospel of justice. she was a driving force signed by president barack obama. the president took the bill andm handed it to barbara mikulski. the senate voted on whether to authorize the war in iraq. vot only 23 voted against the iraq war resolution. only eight still remain today. patrick leahy, patty murray, jack reed. fou

one of her heroes. rather than playing off people's fear and anger i saw theinctive instinctive appeal to hope on that infamous saturday as the dust was settling on that heartbreaking day. everyo started singing god bless

america and everyone jumped in with. so many were going to miss. we will continue to fight the good fight or diminish all institutes of hope. we will continue to do goodnd fight.

barbara mikulski may be leaving the senate, but. i know you'll do the floor. your friends and fellow senator mikulski the longest servingof woman. more than a dedicated champion. equal pay for equal work and ambitious space exploration program, the homeland security

program and fire grants these are but a few of the things that were worked on for four decades as an outstanding public servant and legislator she is rooted in the city we both call home where her father ran a grocery store she earned her bachelor of science degree from mount saint agnes college and social degree from the university of social work then she moved to the organizational skills and when she led the successful opposition to a 1 16 way highway that was going to cut through. throughout her years of service she's returned almost every night and ran for the city council in 1971 when she served for five years before she was

elected to represent theirs pro district. i was proud to succeed her in the house and became the first elected in her own life. here in the halls of the senate she opened doors that had previously been closed she refused to accept second-classgh treatment because of her gender and thought to be recognized as an equal. generations of women who chose to participate in public life would dream of joining the senate and benefited from her trailblazing legacy from has to childcare to health benefits and pensions she's left an edu imprint on the social policies as a member of the health education and pensionsay committee.

she authored the lilly ledbetter fair pay act of 2009. i know one of her proudest accomplishments is the safety net for seniors passing theruptw anti-impoverishment acts to keep seniors from bankruptcy. instead we work on macro issues and macaroni and cheese issues that reflects american families and in 2012 she became the first woman to chair the senatee appropriations committee and she worked 12 with another republican on the committee under difficult budget constraints i think she's shown how the senate can work in a bipartisan fashion. senator mikulski served as the

dean of the senator. she's been one of the leaders of the institutions with respect to making it work better. she always had her feet planted firmly on the ground but reached for the stars. no one has been a stronger advocate of them be oceanic and atmospheric association and the national science foundation for researching the universe. not only a is she reached for tf stars she is a star. discovered by the hubble telescope in 2012, it is lightoe

years away and it's more than eight times the size of our sun. she has so much political energy she's reached her own orbit in ba space. even though it includes the entire universe she's always kept the needs close to herea heart during her tenure whether it is fighting for funding supporting mass transitnd liv improvements who live and work in the state and posting the world's best recipe on her m website i know i speak on behalf of of all that we will miss herd ho to work for ten years here and 20 years beforinthe 20 years bee house of representatives.on i'm proud to stand alongside h

her.erclose on a personal basis i have a close friend much more of productive. the united states congress and indeed the world are better places because of the public service. she may not be the tallest senator burr she needs the biggest shoes to fill. i want to remain a conspired to become inspired by her public service.easure to for ten years i've had the privilege to serve alongside barbara boxer on the environmental public works committee and of the foreign relations committee. a ranking member of the public works committee and chair the committee she spent the last

four years in elected office, ten before in the house of representatives and six years in the board of supervisors she wan the first woman president and worked as a stockbroker while her husband attended law school- the first time she band with a seafor theseat in 1982 her campn was barbara boxer gives a damn. and 2004 she receivedenate. 6.96 million votes than most any has received in the history ofld the senate.

the unabashed liberal and conservative working together for the last century. the transportation goes into thk authorizations of these bills have put millions of americans to work and made our economy more efficient. she understands the importance of building and preserving. calr she helped put aside 1 million. the public lands package acres includes three bills for 67,000 acres i and anotheres 273,000. 59th the elevated into america's 59th

national park. she helped champion the national monument and was instrumental in expanding the preservation act se to create a national historic site. the concerns showed no interest. no one fought harder to defend and approved the landmark environmental law. the air we breathe, the water we drink, it's better becauseknown, senator boxer. she's been effective on so many

other issues. co she let a group of members to the judiciary committee which was all available at the time, taking the charges seriously she had defended th the choice is io povertchoices andpoverty and was passing access to paid a secret membepick a secretmember where t first. at a business meeting today, the members of the committee passed a resolution honoring senator at boxer's work. we know at that time it provided the type of help. she's made a difference around

the world. senator boxer has the same. today after school programs are funded at a 1.15 billion allowing 1.6 million children she was the author of another bipartisan bill to accelerate the contributions to combattor r global hiv, tuberculosis and. >> she worked with the senator to increase the stockpile and the cooperation. she worked with a senator from missouri.

on the strategic partnership acd senator boxer has strong principles. she can be outspoken but she's o also a competent legislator. i know we will continue to hear from her because she isn't thelg retiring type. we wish her well and people which are in the senate. to today i arrives for the second time to deliver a farewell back speech. it doesn't seem like that longe

ago i delivered my first senatet farewell speech making the transition from senator to publi citizen and i reflected on the end of 24 years of public service. m i want to thank my family, some of whom are in the gallery and my colleagues some who came over here to hear me speak. the ups and downs and success gi

and failure i felt nothing but gratitude for the privilege of serving in the military working as a staffer to bend the congressman. participating in the process of governing into being in the arena fighting for principles and to his pledge have all been a privilege beyond description. he was sitting here today and has a good habit of speaking

words of wisdom. when you're driving down a country road and see the triple at thtroubleat the top of this e chances are he didn't get there on its own. i've been blessed to have the support of so many people who provided invaluable help along the way. first and foremost i want to thank god for getting my steps along the way. i want to thank my family. our grandchildren for their loving support and patience that allobutallow me to engage in thf an elected official. i want to thank my former senator and vice president and

of the press to first -- person of former governor robert orr shows me a. he gave me th give me the opporo serve and colin powell led the department of state during my time as ambassador. i want to thank the staff that i've been blessed to have supported me over the years. some are here today and many have served. they've put the team together td

support such exceptional ways. e and i want to thank my colleagues. this is a demanding job but it also allows us to spend a lot of time interacting together a. of last but not least i want to thank the citizens of indiana. they've given me the opportunity of representing the world's greatest deliberative body.

i am not here to offer deep reflections or advise my fellow senators on how by the governing in the years ahead.e best inter i believe we are trying to do what is in the best interest ofl the country. we are all united for making it a better place and were differ prosperous even if the means of getting there. there are topics to consider when i'm gone but i want to

world's lea jeopardize the continued existence of the world's leading nation. these are issues that i've expressed deep concern about. from the tragical standpoint, the country cannot keep. it continues to grow b provide d and meanwhile programs that millions of americans attend. country's one day this will explode and other children's future.

we must ensure they stay out of the hands of its most dangerous people. we must adapt to. the decisions to make the country stronger and more secure for future generations. memorial service from the fallen soldiers of the u.s. stark allows me to use some of the words that were shared at a.

they were ordinary men who did extraordinary things. they were heroes and because n they were heroes, let us notand forget this, for all the days it will seem empty without them. there will be moments when we see the light of discovery. why is there such a place and how is it such a great been h given.

it cries out for liberty. we shouldn't forget when we preserve this gift, they've heard the call and it will stay. seeing the precious gift of america and i ask myself how is at it. that's from state ceremonies. i want to remind us to the gift has been preserved by those that fought in defense of our freedoms and those that paid the ultimate sacrifice. i've seen it in the eyes of wives and young children whong rush into the arms from the frontlines. i've seen it in joy.

expressed pure joy in becoming an american citizen. to do we not then have an obligation and a solid duty to carry the task and ensure the young knives in the future have relations to see. so my colleagues and friends with gratitude to the almighty, love in my heart for each of you, and for the future of our

beloved. >> the senator from indiana.ide, i >> i rise today as we bid farewell to my good friend, myar colleague the senior senator who from arizona has served our country so well with such honor and dedication for more than 35 years and also how grateful i am serving with you through what ad extraordinary senator you've fa been. as many of us know it started he

was elected to the body. he's not often told he was a wh soccer star he joined the unite6 states army where he served from 1996 until 1968 and earned the rank of staff sergeant. after coming to indiana to earni a law degree at the mckinney school of law in indianapolis he moved to ft. wayne as a staff member for the congressman. in 1980 he was elected to represent the fourth congressional district of well. indiana. it was an office he held for eight years. in 1988 he was elected to serves

and senator coats was appointed to the united states senate and he won reelection in 1990 and 1992. for ten years he continued his legacy of service to our beloved state. and as i mentioned, he's thewe senior senator and i'm the junior senator so whenever we have football discussions, he wins every time a. he assured the country was more secure and prosperous. he returned and was soon called back then when they asked him to serve the country again.w

on september 8, 2001 we know how much the world changed three days later and how important his job became to ensure they construct the relationship keeping all of us safe he not only formed a relationship but also played a key role in thef establishment in the heart of berlin. it's hard to stress how critical the leadership was at the time. as he used american diplomacy to help maintain american security. in 2011 he made his return totho the senate.

over the last six years he's produced a steadfast leadership on the finance committee and the joint economics committee. on a more personal note, i've always been able to count on him as a partner to be a thoughtful friend willing to work together to address.do because when it comes down to it, we are americans and we are all in this together. he is willing the's willing to s sleeves and work in a bipartisan manner whether there was an issue protecting the national security, advocating for fiscal responsibility or even the finer issues of government such as making sure the publishing of office could change their style guide so that we are hoosiers

and it should be discussed. it's been an honor to serve with you. you've been a great gentle man and his teammate. i'm proud of the work that we've done together.er i wish. love please for his love of the service, love of the state. i hope he can spend a lot ofchin time to with their three children in great grandchildren. he is a.

and god bless senator coats. >> thank you madam president. i couldn't help. he leaves the rest of us feeling sad knowing that we will miss him as a friend and as an as

esteemed colleague. but there is no word that better definedefined later that the ond has guided his entire life, and that word is service. as we've heard from the colleagues in indiana. they enlisted the army achieving the rank of staff sergeant.epret 1980 he was elected to the house of representatives.

from indiana's fourth congressional district and the giant eight years ago. he became deeply respected as a strong voice for fiscal discipline and national securi security. years 1999 and he was the ambassador to germany two years later. he arrived help but think how i cannot help think how fortunate we him in that key pot

were fear for our country and all the world. he played a central role in strengthening the relationship between our nation and germany during that critical time. after his tenure as ambassador after his tenure as ambassador after his tenure as ambassadorae ended, senator coats continued his service. he offered including the center for jewish and christian values which he chaired with another friend of mine, senator joe

lieberman. to help resolve the nation's problems. he has extraordinary intellect. i'm cutting spending, promoting the policies and strengthening our national security in the era that we faced numerous threats. as a father and grandfather.

our obligation to shore to make sure it is sound for the next generation. it is a particular honor to work side-by-side. public service through the committee will never be fully known. but i can share with you it's almost an instinctual ability to get to the higher finish you no matter how calm but -- complex e the topic.

so deeply about these issues that confront her. the administrations failed to advo strategy. his strong and effective advocacy for improved. the one hi is safety and securiy of the nation and its people. for years he's worked to protect the most critical infrastructu infrastructure.

senator coats has warned us it isn't a matter of if but when. it's the most important an infrastructure. for all of us who seek to serve he epitomizes dedication, effective service and an untiring commitment to making america already the greatest country in the world and even better place to live.

our nation is truly grateful to this man and i'm grateful for his friendship. thank you. i suggest the absence of a quorum. >> the senator from ohio.

>> i speak today as a member of the senate floor on his neighbor back home and represented florida and ohio. i also was involved in the earli political career because i was asked to interview him for his potential move to. great respect and admiration i got to know about his family and background. e she's literally and figurative figuratively. he's become the voice of reason.

also, he's an advocate for economic growth and he's thendss leader on the proposals and he's the guy that continuously reminds us of our solid dutys here. we will miss you greatly and i know that marcia. and i have to find a new neighbor.

we worked together on other things. he came with us and there is a level of seniority and how everything is done. in our class was the only person who. she called me standing in the hallway of the office building.

you are after me aren't you if i don't take this office will youf take it. if that wasn't a. 82 days as vic vice president vn that office and senator coats said if you take that off i know that the only manner when it y question comes around i send it right back and check in a box.

they want to see the real estate and i said no i will stay there. i chaired the rules committee anand a dot with lots of members about lots of requests. i don't know very many similar circumstances in fact i don't know of any exactly like that one where senator coats said i want you to have the office and. if there's anything to preventim hithatproduces character that cs through time after time if that part that always wants to do the right thing

marketed as a color and stores sold on minx.

presidential historians on the lives of the iconic women that look great. cut makes a great gift. stories of fascinating women and how their legacies designated a. share the stories of the first ladies for the holidays. the supreme court tuesday unanimously upheld the senate trading conviction of a chicago man who made a -- it's an hour. >> is shapiro. >> may i please the court.

the cases, to name a few, this court has construed several statutes to avoid serious separation of powers and problems. this case presents the same thoe concerns but to a far greater degree. that core is the insiders of use of confidential corporate information from personal profit unless and until congress can or its equivalent where they tipped another person in exchange for a financial benefit. suppose in this case.

it makes the proceeds a gift just as if you do the trade. >> the difference is the transactions are complete from the insider trade. this is a statute that doesn't even mention insider-trading much less to the personal benefits of instance employed and be covered and he can do whatever he wants with the money

[inaudible] >> this is a case. where before they made clear what all of it is unlawful and what makes it unlawful is the insider is doing it for personal gain on the information by doing so or by circumventing natural and essentially giving it to someone else.

are you suggesting if two people get together, one has inside information and says why don't you trade a minute and we will split the proceeds, isn't that covered? >> if it occurs in this case and is disputed didn't ask or make any money at all. >> he said i owe someone money. isn't that money or information

>> i think the problem with that is virtually anything with any >> that's true but it has to be for personal benefit or purpose there has to be a reason you're doing it.

he must demonstrate that. >> [inaudible] scenic i think. there's a lot of relatives you d with minor children, your life. why are they filled with instances where. it's filled with rules like that

but -. that's not true of all families. for many it is. >> the important thing here is the statute doesn't address th this. who is the information you choose and when you use information which you shouldn't, you are hurting them and.

helping a relative who's helping yourself. >> the only ones this court has decided to our. you're asking us to ignore some language that was explained

quite some time ago talking about when. between insider and recipient, or an intention to benefit a particular recipient and then it goes on to say when insider makes the gift of confidential information to a trade relative for friends and then in the last paragraph of the opinion. no monetary or personal benefits, nor was there a purpose to make a gift of valuable information. so there's a lot of language which is very specific about its not only when there is the.

they mentioned it in two places but the whole thing. >> is very clearly setting up a test so. i agree with you, justice kennedy. it goes on to do after that is

a. in most areas that are supposed to be something that is not intended. i think the association illustrates -- [inaudible] >> i want to be very clear [inaudible] >> i want to be clear about the test we are proposing because i think it is going to capture a member of the families of patients. the point is capacity clear whether family or anyone else that the disclosure is being

given to and there will be many cases shaheen is the kind of financial future defendants that will illustrate that the insider does benefit financially from the disclosure. >> lets suppose i would like to give a gift to a friend of mine but it's too expensive. i pass a coworkers desk and see a 100-dollar bill sitting there and now i can give a gift i had wanted to give but i couldn't. have i benefited from stealing the 100-dollar bill? >> yes, you have. >> why should the issue be any different if instead of stealing the a 100-dollar bill.

>> there are some for example if i have a tradition every once a year at christmas time to give the household employee as a is a bonus and one year it decided to give a tip instead, that would certainly qualify. it's going to depend upon the nature and the evidence and. >> we all have our own interests and purposes. some of those might be very practical and pragmatic, some might be more naturalistic that we give gifts for the individual interest and purposes and here i am stealing corporate information to give a gift to

somebody i know. it might be a family member or friend. i benefited from it because the opposite of using the corporate information for corporate purposes. it's where they disclose the information whether it's in a business setting more as it is often the case in mixed social and business study. they talk to the insiders all the time and that occurs but talk about the culpability question i isn't any less to

give your close relative you've been supporting for your entire life instead of giving one month or two months why is that person more culpable than whoever. there was a line that wasn't designed by congress. >> that he doesn't define what is deceptive or manipulative. for ages they said the failure

to speak when you are obligated to doesn't show. >> the statute provides no guidance or history and this is very similar to that fraud cri crime. it provided no specific guidan guidance. other countries have insider-trading laws and they use words like insider.

the court has held ther court hs no general duty to and it's essential to market participants know when the line is crossed and when it's not. >> they've been around a long time. what has been developed by the courts over a long time. this does x. stand to take the

minority statute is more likely to change the law then people have relied upon them to keep to it. some illustrate the industry association in particular there's been trouble determining when they can and can't use market information of the sword and the regulation purports to change the law so it doesn't

constitute the trading. >> that addresses whether or not there is a breach. what you're saying doesn't quite address the problem. >> i don't agree with that because what the court has repeatedly held is that not every guy needs -- it is exchange for the personal benefit. it's not whether there is any old preache breach of fiduciary. one could argue that i that in e foof the insider of their secre. if it is the test, the case

falls within. i think the fact of the case shows the insider was being pestered by his brother to release the information. he didn't know he was creating until later in the process. it involved a situation he immediately called his brother back and begged him not to trade. so i don't agree with that. but i think it is essential for there to be a clear line that the court holds the insider must benefit in a concrete way. if that is an underinclusive test, congress can act and change the law.

if that is the benefit then virtually everything is. and the court will be going back to the role that was rejected. and even in the case there isn't a general duty natural frame work from insider-trading. it doesn't have to be purely financial. the personal benefit doesn't have to be money. >> it doesn't necessarily have to be money. it has to be something concrete.

it has to be tangible. it doesn't have to be cash. it can be something that is translated -- >> because of the gift language how else ca often you suggest te viability? what other ways are there to take care of they've given us one proposal, what is yours. i don't think there's any other test the court could provide that would eventually be the judicial expansion retroactively in violation of the separation of powers.

it's not the risk to a person's liberty the court must narrowly construed statute and not expand it further. >> it's not a question of of expanding it for their you're asking us to cut back significantly from something we said several decades ago that congress has shown no indication it is unhappy with and the integrity of the markets are important and you are asking us essentially to change the rules in a way that threatens the integrity. >> i don't think we are asking you to change the rules. we've only addressed it once and i don't think the gift language

is the holding of the case that the insider has to get a personal gain. the plaintiff to test is to ensure what is captured is essentially a circumvention of the test profiting from the information. >> he had the information. >> i was referring to the discussion in the case and the court in that case held there was none but it would have arisen if he'd been an insider in the company that shares the

issue. the reason for that is they held that it would be a frog to exploit -- fraud to exploit and disclose. with respect that is a policy question and a very complex policy question. there is a literature with market participants about what is regulated at all but more importantly to what extent and how do you do that while ensuring that there is a free flow of information that it can work its way into the base.

>> i was suggesting that it's a reason for caution changing the rule everybody has understood and lived b.