♪ [applause] [applause] >> thank you very much. i think it was woody allen who said that he spent a lifetime trying to arrive late at a jewish event and never made it. [laughter]

i came on time. [laughter] with my wife sarah, the mother of abner. it is very good to be with all of you, members of the obama administration, senators, members of congress, my colleagues, defense minister, ambassador mibling orin and the distinguished ambassadors who are here fra many countries, howard kor, victor rosenberg. the 1,300 students who came from around this country. . 0 st came from around this country. [cheers and applause] my friends, as the world faces

monumental challenges, i know that america and israel will face them together. [applause] we stand together because we are fired by the same ideals and inspired by the same dreams the dreams of achieving prosperity, security and peace for all. [applause] [applause] now this dream seemed an impossibility to most jews a century ago. you know this month my father celebrated his 100th birthday. [applause] that's not his only achievement, but when he was born, the czars

ruled russia. the british empire spans the globe and the ottoman empire ruled the middle east. during his lifetime, all three of these empires fell. others rose and fell. and the jewish destiny, the pendulum of jewish faith swung from the depths of despair to new hope and a new beginning, the rebirth of the jewish state. [applause] for the first time in 2,000 years, a sovereign jewish people could defend itself against attack, and before that, understand what transformation this was before that in our dispersion we were powerless, absolutely powerless to defend ourselves against an unremitting

a barrage of savagery from the bloodletting in the middle ages, to the expulsion of the jews from england and then from spain and then from portugal to the innocence slaughter of jews in the ukraine to russia, committing in the greatest horror of all, a holocaust. the founding of israel didn't stop the attack on the jews, but it merely -- well, it's more than merely. it gave the jews the power to defend against these attacks. i want to tell you about the day that i realized what this transformation was. it was the day i met him over 19 years ago he was in the same

military unit and one dark night during the battle in 1969 he was killed in a burst of gunfire. at his funeral in the galilee i learned something. i discovered that he had been born shortly after his mother and father had been freed from the death camps of europe. if heim had been born two years earlier, this daring young israeli officer would have been tossed into the oven light 1.5 million other jewish children. heim's mother told me that though she was in great anguish she was proud.

at least, she told me -- and this is something i will never forget as long as i live -- at least, she said, my son fell wearing the uniform of a jewish soldier defending the jewish state. [applause] and time and again, israel's soldiers were forced to recall the attacks of much larger enemy is committed to our destruction. yet, when egypt and jordan realized that we could not be defeated in battle, they embraced the path of peace, and we value the peace treaties we've achieved with both countries. yet there are those -- [applause] there are those who continue the

assault against the jewish state. there are those who openly call for our destruction. they seek to achieve this goal from terrorism, missile attacks, and most recently, by developing atomic weapons. it is instructive that the gathering of the jews to israel doesn't deter them. in fact, it when it's their appetite. iran's rulers say israel is a one bomb country. that is hezbollah says if all the jews gathered in israel it will save us the trouble of going after them worldwide. my friends, these are unpleasant

facts, but they are the facts. the greatest threat to any living organism, to any nation is not to recognize danger in time, not to recognize the facts. 75 years ago, many leaders around the world put their heads in the sand. untold millions died in the war that followed. ultimately, to of history's greatest leaders helped turn the tide. franklin delauro roosevelt and winston churchill helped save the world. [applause] indeed, they deserve every applause. they helped save the world. but they were too late to save 6 million of my own people, the jewish people. the future of the jewish state

can never depend on the good will of even the greatest of man. [applause] israel must always reserve the right to defend itself. [applause] today an unprecedented threat to humanity looms large. a radical iranian regime -- [applause] [applause]

thank you. thank you. [cheers and applause] thank you. a radical iran and regime armed with nuclear weapons could bring the end to the era of nuclear peace that the world has enjoyed for the last 65 years. such a regime could provide nuclear weapons to terrorists. it might even be tempted to use them. in our world would never be the same. iran's praising bid to develop nuclear weapons is certainly first and foremost a threat to my country, to israel. but it's a threat to the entire region. it's a threat to the entire

world. israel, thus, expects the international community to act swiftly and to act decisively, to thwart this danger. but we always reserve the right of self-defense. [applause] and my friends, we have to defend ourselves also against lies and against the vilification. throughout history -- [applause] throughout our history the slander against the jewish people always preceded physical attacks against us. in fact, they were used to justify those attacks. the jews were called the poisoners of mankind, the fermenters of instability, the

source of all evil under the sun. unfortunately, as in the case of the physical attacks, these libel attacks against the jews did not stop with the creation of the state of israel. it's true that for a time overt anti-semitism was held in check by the shame and shock of the holocaust, but only for a time. in recent decades, the hatred of the jews has re-emerged with increasing force, but with an insidious twist. it is not merely directed at the jewish people. it's increasingly directed at the jewish state, and in its most pernicious form, it argues that if only israel did not

accessed many of the world's problems would go away. now, i want to be clear. this doesn't mean israel is above criticism. of course not. israel, like any democracy, has its imperfections. but we strive to correct them through open debate and through scrutiny. israel has independent courts and the rule of law, free press, and vigorous parliamentary debate. believe me, it's very vigorous. [laughter] you've just gone through a week of health care voting. in israel, every week is health care week. [laughter] it doesn't stop. [laughter] and i know in this city member of congress refer to each other as my distinguished colleague from wisconsin, the distinguished senator from california. in israel, members don't speak

of their distinguished colleagues from both shivah -- we say well, you don't want to know what we say. [laughter] because in israel, self criticism is a way of life. and we also accept that criticism is part and parcel of the conduct of international affairs. but israel should be judged by the same standards applied to other nations and to other democracies. [applause] sometimes i think there is -- sometimes i think there's a triple standard. one standard for the dictatorships, a second standard for the democracies, and a third

standard is a standard for israel. we should be judged by one standard and allegations made against the state of israel must be grounded in fact. [applause] one allegation that is not grounded in fact is the attempt to describe the jews as foreign colonialists in their owãhn mu) >> in my office i have a cigarette ring that was loaned to me by israel department of antiquities. this ring was found next to the

western wall but they expect 2800 years ago, 200 years after king david declared jerusalem as our peoples capital. this ring is a seal of the jewish official and his name is inscribed in it -- on it in hebrew. the name is netanyahu ben yuosh. that is my last name. i first came dates back to benjamin, the son of jacob. friend, the president of israel. [applause] you see, nearly 4,000 years ago, benjamin, shimon, and there ten brothers roamed the hills of today and to. ladies and gentlemen, the connection between the jewish

people and the land of israel cannot be denied. [applause] the connection between the jewish people and your darussalam cannot be denied. [applause] the jewish people were killed in jerusalem 3,000 years ago, and the jewish people are building jerusalem today. [applause] jerusalem is not a settlement. it's our capital. [applause]

[cheers and applause] [cheers and applause] thank you. in jerusalem my government is maintained -- [cheers and applause] thank you. thank you. you're very kind. thank you. [cheers and applause] in jerusalem my government has

maintained the policies of every single israeli government since 1967 including those led by goldamiere. today nearly a quarter of a million jews, that almost half the city's jewish population, live in neighborhoods that are just beyond the 1949 armistice lines. [cheers and applause] all of these neighborhoods are within five minutes from the knesset's. they are an integral and inextricable part of modern jerusalem. everyone knows -- everyone, americans, europeans, israelis certainly, palestinians, everyone knows that these

neighborhoods will be part of israel in every peace settlement. [applause] and therefore, building in them it no way precludes the possibility of a two-stage solution. [applause] and i want to say one more thing about our policies in jerusalem. you know, nothing is rare in the middle east and tolerance for the belief of others. but it's only been under the israeli sovereignty in jerusalem that religious freedom for all faith has been guaranteed, and we shall continue to guarantee that religious freedom for everyone. [applause]

ladies and gentlemen, while we cherish our homeland, we also recognize the palestinians live there as well. we don't want to govern them, we don't want to rule them, we want them as our neighbors living securely in dignity and peace. [applause] yet, israel is unjustly accused of not wanting peace with the palestinians. nothing could be further from the truth. [applause] my government has consistently shown its commitment to peace in both word and deeds. from day one, i called on the palestinian authority to begin peace negotiations without

delay. and i make the same call today. president abbas, come and negotiate peace. [applause] you know, that is so elementary and so obvious. you'd think we don't have to say it because leaders who truly want peace should be able to sit face-to-face with each other and negotiate peace. you can't successfully in a negotiation for peace if you don't begin at. so i call on the palestinian leadership. come and negotiate peace. [applause] of course, the united states can help the parties resolve their problems, but it cannot solve the problems for the party's. [applause]

peace cannot be imposed from the outside. it can only come through direct negotiations in which we develop mutual trust. that mutual trust that is necessary to forge a common future. last year i spoke of a vision of peace in which a demilitarized palestinian state recognizes the jewish state just as the palestinians expect israel to recognize a palestinian state, we expect the palestinians to recognize the jewish state. [applause] my government is removed hundreds of roadblocks, barriers, france, checkpoints, and this is facilitated tremendous palestinian movement, and as a result we have helped

spur actually an incredible boom in given today's world economy, an incredible boom in the palestinian economy. you have coffee shops, restaurants, businesses, shopping malls, even multiplex studios. just go to ramallah and that is not come about out of sheer terror. we have made it possible. you cannot do this if you cannot move tracks, goods, people, customers. that's been our policy. and we added to that an unprecedented moratorium on new construction and to dan sumeria. this is what my government has done for peace. [applause] now i ask you what is the palestinian authority durham for peace? [applause] well, you can judge for yourself. they have placed preconditions on peace talks, wage relentless

international campaign to undermine israel's's legitimacy and promote the maturing this goldstone report that falsely accuses israel of war crimes. in fact, they are doing that right now at the u.n. -- at the grotesquely maimed u.n. human rights commission. [applause] and i want to use this opportunity to thank president obama and the concourse of the united states for their efforts to thwart this libel, and i ask for the continued effort this week to fight this lie. [applause]

regrettably, the palestinian authority has also continued the unabated in sight against israel and the state-controlled media and schools and other institutions that come directly under their control. and some others, too. a few days ago in a public square meter ramallah, the palestinians named this square after a terrorist who murdered 38 innocent israeli civilians, including 13 children, including an american citizen, the photographer, gale ruben. they named a public square after

this murderer, and the palestinian authority did nothing. ladies and gentlemen, peace requires reciprocity. it cannot be a one-way street in which israel makes all the concessions and the palestinian authority makes none. that's got to change. [applause] israel stands ready to make the compromises necessary for peace, but we expect the palestinians to compromise as well to do their part. [applause] but there's one thing i will never compromise on, and that one thing is israel's security. [applause]

let me express to you the difficulty of trying to explain israel's security predicament to the citizens of the united states, a country that is 500 times the size of israel. so, i thought how why did this to bring it home. and i asked you to imagine that territory of the united states was compressed down to the size of new jersey. now i'm not speaking at new jersey because our ambassador michael comes from the new jersey. it happens to come from the right size. so, now you squeeze the united states down to the size of new jersey. next, put on the new jersey's

northern border a terror proxy called hezbollah which fires 6,000 rockets into the small state. then imagine that this terror proxy amasses another 50,000 rockets to fire at you. now i'm not finished. you take new jersey's southern border and put another iranian terror proxy on it and call it hamas. and it, too, fires 6,000 rockets into your territory while smuggling even more lethal weapons into its territory. you'd think you'd feel real vulnerable? you think you would expect some understanding from the international community when you have to defend yourself? i think any fair minded person would recognize that we face security problems and challenges

unlike any other nation on earth. [applause] and therefore, therefore a peace agreement with the palestinians must have effective security arrangements on the ground, not just a piece of paper, on the ground. [applause]@@@@@@@@@ @ @ @ @ @ @h let me explain what our main security problem with lebanon is. it is not israel's border with lebanon. it is lebanon poorest border with syria to which iran and

syria smuggle thousands and thousands of rockets and missiles to hezbollah. our main security problem with dasa is not israel's border with cassette. it is the gaza border with egypt under which there are thousands of tunnels dug through which hamas smuggled weapons to fire at us. my friends, experience shows that only an israeli presence on israeli presence innt or the eastern border of a future palestinian state. [applause] if peace with the palestinians proves its stability over time, we can review security arrangements. we are prepared to take risks for peace.

but we will not be reckless with the lives of our citizens and the one and only jewish state. [applause] ladies and gentlemen, the people of israel want a future in which our children no longer experience the horrors of war matt. we want a future in which israel realizes its full and great potential as a global center of technology anchored in its fall use living in peace with all of its neighbors. i envision an israel that can dedicate even more of its scientific and creative energies to help solve some of the great problems of our time. for most of which is finding a clean and affordable substitute for gasoline. [cheers and applause]

and when we find that alternative we will stop transferring hundreds of billions of dollars to regime that would support tour worldwide. [applause] i am confident that in pursuing these goals the of the enduring friendship of the united states of america, the greatest nation on earth. [applause] the american people have always shown courage, their generosity, their decency. from one president to the next, from one congress to the next, america's commitment to israel's security has been unwavering. [applause] in the last year, president

obama and the u.s. congress have given meaning to that commitment by providing israel with military assistance, by enabling joint military exercise and working on joint missile defense , so too is israel been a staunch and steadfast ally of the united states. as vice president biden has said, america has no better friend in the community of nations and israel. all i say that, too. [applause] for decades, israel served as a bulwark against soviet expansionism. today it is helping america stem the tide of militant islam. israel shares with america everything, and i mean

everything. that we know about fighting a new kind of enemy. we share intelligence. we cooperate in so many countless ways which i'm not at liberty to divulge. this cooperation is important for us, for israel, but it is also helping save american lives. [applause] our soldiers and your soldiers fight against fanatic enemy is that los our common values. in the eyes of these fanatics, we are you and you are us. to them, the only difference is you are big and we are small. you are the great satan and we are the small state in.

now there's an important point here. this fanaticism hatred of western civilization predates the stubble shunned of modern islam by 1,000 years. militant islam does not hate the west because of israel. it hates israel because of the west because it sees israel as an outpost of freedom and democracy that prevents them from overrunning them the least. that is why when israel's stance against its enemies, it stands against america's enemies. [applause] president truman, the first leader to recognize israel had this to say. i have faith in israel and i believe it has a glorious future not just as another sovereign

nation but an embodiment of the greek ideals of our civilization my friends, we are gathered here today because we believe these common ideals of our great civilization and because these ideals i'm certain israel and america will always stand together. [applause] thank you. thank you. ♪ ♪

men and >> the senate panel approved overhauling the u.s. financial industry yesterday. the bill now goes to the senate floor for debate. that senate banking committee markup is next on c-span. topics on this morning's "washington journal" include health care, education policy, and november's election. "washington journal" begins at the top of the hour. president barack obama will find health care -- will sign a health care legislation this morning. meanwhile, a package of changes to the bill is sought by house democrats and is headed to the

senate. for more information, visit cspan's healthcare web page. go to c-span.org/healthcare. now to the senate banking committee for a markup session on financial regulations. chris dodd of connecticut is the chairman. this is 25 minutes. lywood. we will -- the committee will come to order. let me just inform my colleagues here. we've had various -- because of the weather -- various planes getting in a little late. i've been getting calls from some of our colleagues that their planes are landing and will be here momentarily. so we'll begin the process here. obviously we can't do any business at all until we have a quorum and so we'll -- we can do

other things. and make some opening statements. let me just share with my colleagues how we'd like to proceed. today we're going to consider, of course, the original committee bill, the restoring american financial stability act of 2010. as i said there as lot going on this evening, planes coming in late and so forth. as you may know, my members or colleagues know the leadership has scheduled some votes occurring sometime around 5:30 or thereafter. so my intention here is early on to be able to at least have senator shelby and i make our opening statements and then we'll have some motions to make. obviously we need to have a quorum present to do so, so i'd like to proceed as expeditiously as we can on all of these matters. and what i'll do right now is i'll begin by making some opening comments. they're very brief. despite the magnitude of this particular undertaking obviously we've all spent a lot of time

together over many, many months, so a lot of this has been said already in many, many different places. let me share some opening comments and i'll turn to my colleague and friend dick shelby, the ranking member of the committee, to make any opening comments he may have and then we'll proceed from there in the hopes that by that juncture we'll have a working quorum in the committee in order to proceed with some motions. so with that in mind, for three years now as all of us are aware, dating back to our first meetings in this very room, on home foreclosures in 2007, this committee has been studying the clauses and the effects of the worst financial crisis since the great depression. the effects are obvious. some of the most prominent financial institutions in our nation have been destroyed or seriously weakened over the past couple of years. as bad as that has been the far worse damage has been done to millions of our fellow citizens, ordinary families across the nation who did nothing wrong but are paying a terrible price for

this economic crisis. a staggering 8.4 million jobs have been lost and the unemployment rate remains near double digits and far too many communities across our nation, the rate of unemployment is over double digits as many of us know. nearly 7 million have lost their homes to foreclosure in our nation. millions have lost their retirement funds and millions of small businesses have also been put out of business. as our constituents have made very clear to all of us, americans are frustrated. they're angry about what's happened, and they want answers. how could this have happened? and what are we going to do to make sure it doesn't happen again? we all know, i think we must reform our regulatory structure so that a crisis on wall street doesn't wipe out working families and businesses across our nation. we've got to create an early warning system so we can spot unsafe financial institutions, products, or practices, and stop them before they threaten the stability of our whole economy.

and we must protect the american consumers and restore their faith in our markets and in the financial system. such comprehensive reform is, of course, an enormously complex undertaking. so i want to begin in these brief remarks by thanking our colleagues, all of you gathered around this table, those who have not yet arrived. the hard work that's already been engaged in, to put us at this stage in the process. if all you do is to watch cable news, of course, you might get the idea that all we do in the united states senate is loud talking points at each other across the table. but the truth is, a challenge like financial reform requires a lot of real and hard, honest work. and whatever happens from this point forward, the members of this committee should be recognized for the very hard work that they've engaged in over these many weeks and months. working in bipartisan teams, members of the committee have tackled some of the most difficult and important questions and produced a bill that will address some of these

issues. the result is a bill that will update our regulatory system for the 21st century, financial sector, so we can keep pace with innovation and be ready for future crises as they happen. this bill has 11 titles to it, and rather than go through each one, let me briefly highlight the four critical pieces of our proposal in common sense language. this bill, number one, will end bailouts, ensuring that failing firms can be shut down without relying on taxpayer bailouts or threatening the stability of our whole economy. number two, the legislation will create an advanced warning system in the economy so that there's always someone responsible looking out for the next big problem as it emerges. number three, our legislation will ensure that all financial practices are exposed to the sun light of transparency so that exotic instruments like hedge funds and derivatives don't lurk in the shadows and businesses can compete on a level playing

field. four, our legislation will protect consumers from unsafe financial products, such as sub prime mortgages that led to the financial crisis in the first place. and most importantly it'll restore our financial security so that our economy can create jobs and offer middle class families a chance to build wealth in our country. today a full three years after we began to study the crisis and after a tremendous amount of @@@ @ @ r i expect that the full senate will understand clearly we are moving forward on this issue the stakes are far too high and the american people have suffered too quickly for us to fill in this effort. we will not fail and we will adopt reforms in the financial

system this year. i will turn to my friend, dick shelby. >> thank you, mr. chairman. chairman dodd and i have worked and known each other for the last 30 years. we have been working to achieve a broad bipartisan agreement on how to reform our financial regulatory structure. although it has been a difficult endeavor, both the chairman and i have worked toigently to find middle fail. we believe that our regulatory structure needed to be modernized and streamlined. we agreed that the scope of the federal reserve's authority should be closely examined and that consumer protections needed to be strengthened. finally we agreed on the need to increase transparency, standardization, and competition. these broad areas of agreement were and i believe remain the foundation of bipartisan legislation. unfortunately such legislation

continues to elude us today. however, that does not mean that an agreement is out of reach. the chairman's latest proposal contains a number of positive steps forward and could form the foundation for broad, bipartisan agreement. therefore i do not view today's markup as the end of the road but, rather, just another step in the process. as we move forward, there are several issues that i believe must be addressed in any final bill. first and foremost, we must end too big to fail. the chairman's first proposal expanded the problem of too big to fail by broadening the federal reserve's emergency lending authority and creating a resolution regime that could bail out failing firms. although this bill takes some steps in the right direction, i believe it still falls short of ending bailouts and the associated ho d moral hazards. the approach to systemic

oversight, however, is much improved i believe. through recommendations to agencies and congress the financial stability oversight council would work to strengthen our financial system and to improve financial regulation. the structure admission of the council are consistent with a lot of our views. however we choose to end too big to fail and mitigate systemic risks, none of our efforts will succeed unless we change market expectations regarding bailouts, requiring enhanced private sector due diligence, and provide regulators with realistic objectives and the tools to achieve them. the issue of consumer protection continues to be a high priority for both chairman dodd and for me. the relationship between banks and consumers have attracted the most media attention and, perhaps, the most rhetoric. recently and well known commentator characterized the debate over consumer protection as a clash between those who favor either the banks or

families. not only is that particular characterization absurd, it is also incredibly unconstructive. reforming our entire financial regulatory structure is difficult and a complex undertaking. it requires people of good faith to work cooperatively toward a common goal and not us versus them mentality. that said, i do not believe there is currently -- i do believe there is currently an imbalance in our regulatory structure between consumer protection and safety and soundness regulation. i do not wish, however, to correct this imbalance by creating a new one. therefore, i am advocating elevating consumer protection, giving it parity with safety and soundness oversight. while i continue to believe that a safe and sound banking system is the best consumer protection, there are steps that need to be taken to strengthen the role of consumer protection within our regulatory structure. there are a number of different

con constructs that can accomplish this goal. whatever organizational structure we ultimately settle upon i will continue to insist upon the meaningful integration of safety and soundness considerations in both rule writing and enforcement. i remain optimistic that this can be achieved. the derivative title does not yet in my opinion reflect the work of senators gregg and reid. the current language would subject derivatives transactions to reporting, clearing, and execution requirements. even companies that use derivatives to hedge legitimate business risks would be subject to these requirements unless they qualified for one of the narrow exemptions. forcing clearing of essentially all derivatives ignores the risk of central clearing. instead of taxpayers' savings this could expose taxpayers to future bailouts of clearing houses. we need to carefully weigh the risk of mandating the clearing of products that are complex,

illiquid and hard to price and also with companies using swaps to hedge legitimate business risks should be allowed to continue doing so without requiring them to jump through unnecessary hoops or having to set aside resources that could otherwise be used to create jobs and develop new products. one of the most important lessons from the aig bailout is that regulators need to have access to information about the full range of activities in the derivatives markets. we need to shed light on all classes of swaps including ones that the bill would allow to remain in the dark. in short, we need to establish a rational regulatory framework for derivatives that allows for both transparency and economic growth. this bill also contains a number of provisions that are unrelated to the crisis, including a so-called corporate governance provisions that would impose costs on shareholders and empower special interests. there are several other sec

related provisions that as presently drafted would not solve the problems that they attempt to address. the three key areas of credit rating agencies, securitization and sec funding, all of which would need to be addressed as we move down the road. mr. chairman, those of us who have worked on this legislation, i guess all of us for a year now or more, know how difficult and how complex this undertaking has been. nevertheless, we made significant progress and chairman dodd's dedication, patience, and persistance have been instrumental in bringing us this far. although i have raised a number of serious concerns, i remain today optimistic that we can over time reach an agreement that will garner broad bipartisan support. i just don't believe we're quite there yet. chairman dodd has made it clear that he intends to move forward without republican support, which is his prerogative. it is not our intention to turn this markup into a long march

offering hundreds of amendments that will inevitably be defeated. we don't think that would be constructive or productive to the end game. consequently, we will be opposing the bill at this time but i pledge to the chairman and others, my colleagues here, that i will continue to work with them as this bill approaches the floor consideration in hopes of reaching a broad consensus. i've said many times, if we place policy ahead of politics, we can and i believe will reach an agreement that will not only attract significant support in the senate but will also be good for the american taxpayer, our financial system, and our economy. >> senator shelby, thank you for those comments and i appreciate your closing comments and your opening remarks and it is certainly our intention to proceed along those lines. and you pointed out and i think accurately so that the product you all have before you reflects an awful lot of that work as i mentioned in my brief comments in the beginning to try and get

us closer together on this very complex and difficult area of legislation. so i look forward to that effort as well in the coming days. now, i know we've had many amendments filed but i gather that members have decided to withhold those not already folded into the managers' amendment until they've reached the floor or before-hand if they can work on them. and i've worked with everyone who has approached us over the weekend and asked to have their amendments incorporated into the managed amendment. i want to note that members who are not here though i think almost everyone is, that were going to reserve their amendments until later in the debate. obviously a lot more work needs to be done but, again, we're moving along that line. let me first turn to the manager's amendment number 471 that was filed on friday with some new elements that we have been able to work out over the weekend, including technical conforming and other noncontroversial items from various members. it was circulated to all members

and you all have it in front o you. so i would ask consent to modify the amendment as outlined in the managed amendment in front of you. hearing no objection to that, so modified. i would now move the adoption of the manager's amendment as modified. all those in favor, please say aye. >> aye. >> those opposed no. >> no. >> the ayes appear to have it and the ayes have it. i'd now like to if i could suggest the following by the way, richard, that i'm prepared to come back. i'm going to move we go to the final adoption of this bill unless others want to bring up amendments but i gather we're going to preserve that for later. i know members like to be heard on the bill, itself. i am prepared to come back after the votes we have and be here either tonight or tomorrow morning, however you'd like to do it in a formal setting of the committee so members can be heard if you'd care to on the matter before us. i'll leave that up to you to inform our staff. i'll do it any way you'd like to do it to give you a chance to be heard if that's the case. if that's not the issue any further then i move the

committee report the original bill, restoring america financial stability act of 2010 and would ask the staff be allowed to make technical changes and that the rule be waived and hearing no objection it is so order aend the bill be ordered. i'd like to now ask just to vote on final passage. is the clerk here? and i believe -- is that correct we're at the point to vote on the bill, itself? is that correct? well then, madame clerk, i'd ask the roll call proceed. >> mr. chairman. >> aye. >> mr. johnson. >> aye. >> mr. reed. >> aye. >> mr. schumer. >> aye. >> mr. bayh. >> senator bayh votes by proxy votes aye. >> mr. menendez. >> aye. >> mr. icoca. >> aye. >> mr. brown?

>> votes by proxy, votes aye. >> mr. tester? mr. kohl? >> aye. >> mr. warner? mr. merkley? mr. bennett? mr. shelby? >> no. >> mr. bennett? >> no by proxy. >> mr. bunning? >> no by proxy. >> mr. krapo? >> no. >> mr. corker? mr. demint? >> mr. demint votes no by proxy. >> mr. vitter? >> no. >> mr. johans? >> no. >> ms. hutchison? >> no by proxy. >> mr. gregg. >> no by proxy. >> the vote is 13 ayes, ten opposed. the measure is passed.

>> let me thank all of my colleagues. i'm -- the votes haven't started so i'd like to stay and take some opening comments if members would like to make any opening comments. senator schumer? >> could we come back, those of us who can't be here can we come back and make opening statements? >> i'll be happy to do that tomorrow morning -- i'll leave it up to the will of the -- in the morning if you like. i'd be happy to do it then. anybody else who would like to be heard? we've got a few minutes. any members want to be heard? senator corker no? the corker rule? >> probably best for me not to be heard tonight. >> anything else? if not, i thank all the members. the committee will stand >> i actually now have a house in washington d.c. for the first time.

i never had an array idea it was going to be this could them whether it is a letter bomb in washington or a serious one serious >> you can search it, clip it, share it or more on line at the new cspan video library. 115,000 people with the preseason -- cspan program since 1987. the video library, kibbles latest gift to america. "washington journal" is next. the house is in at 10:00. the chamber will debate a package of small business tax incentives. live house coverage will be on c-span.