mr. harkin, mr. shelby, >> aye. >> mr. gregg. >> aye by proxy. >> the clerk will report. >> 5 ayes, 7 nays. the measure is not passed. >> i have several and i will try to be very brief with them. >> comment on all of them, and most of them we will accept. >> section 165 allows the board of governors to impose mightn't credential standards and reporting disclosure requirements on non-bank financial companies. obviously, in some of these situations, the subsidiaries are the largest piece of it. they are actually regulated by some other regulator. all my amendment does is that it says -- it sets the capital requirements. they have to consult with people that do regulation, and i think it is a good government amendment. i hope they will just take it and we don't even have to vote on it. >> i think it is a good amendment, i commend my colleague for it. unless otherwise objected, it will be accepted. >> i think you are aware of the effect that accounting has had on our banking system throughout this time. i have not been one to

mr. harkin. no, by proxy. >> mr. shelby. >> aye. >> mr. kriegel. crapo.mr. krieg >> aye. >> to the measure is a tie and it is defeated. >> we are going to recess for five minutes. [gavel] >> come to order. let me say, we previously had a tie vote and the proposal failed on the tie vote. as an expressive to senator chambliss, i believe -- as i expressed to senator chambliss, i think it is important to note that, while i do not necessarily disagree with what he is suggesting, and the fundamental reason for the vote on this side has less to do with the substance of the thing. the fact of the matter is we have a limitation on the parameters of this conference to be focused on the title that deals for the pay-for provisions of the deal. i'm prepared to work with my colleague from georgia on this to see if a call away solves the problem or something else may be done. >> in the procedural footing, i hope to not vote to reconsider. this is a very large bill. i think we would need a technical corrections bill that goes beyond just minor things people on the house sid

mr. harkin, aye by proxy. mr. shelby, no. mr. corker, no. mr. gregg, no. >> the clerk will report. >> the votes are 7 aye, 5 nay. the bill is passed. >> i thank my colleagues, immensely. [applause] >> will the house and senate conferees in favor of passage of the bill, i declare the bill passed and the conference committee is now adjourned. [applause] [inaudible conversations] >> i think chairman frank and his team. we recognize the tremendous effort of the staff, representative barney frank and i worked together the last couple of years. it is a big legislative effort. we have a lot of work to do. this makes a huge difference. we thought we could get this done, but to establish a consumer protections bureau for the first time in the history of our country. stopped too big to fail, provide for the protections and see to it that we don't end up in a kind of cataclysmic event that brought our country to the brink of financial collapse. that kind of early warning, there are other items that are included. we believe we have something that has been n

mr. harkin. >> aye, by proxy. >> aye, by proxy. >> mr. shelby? >> no. >> mr. crapo. >> no. >> mr. corker. >> no. >> mr. gregg. >> no. >> mr. chambliss. >> no. >> the clerk will report. >> 7 aye, 5 nay. the bill is passed. >> i thank my colleagues. [applause] >> with the votes of the house and senate conferees in favor of passage of the bill, i declare the bill passed and the conference committee is now adjourned. [applause] >> nice to meet you. take care. >> i'm on the cleanup crew. >> congratulations. >> congratulations. >> we recognize the tremendous efforts of staff. barney frank and i have worked together for the last few years. it has been nothing quite like this. as is as good as it gets in terms of a legislative effort. this makes a huge difference. no one thought we could get this done. it is a tough environment to operate in. to establish a consumer protection bureau for the first time in the history of our country, to stop the too big to fail, to ensure that we do not end up with another near financial collapse. we will provide an early- warning system. it is another of

mr. chairman, the amendment, could we not dispose of that? >> the purpose harkin eminem?n the fixed income? >> yes, i thought that was accepted. it has been accepted. >> how about the student loan provision? >> that has been rejected. all those other items have been -- >> i have to confess, i have not read all the amendments. >> it was in the base tax and nobody moved to strike it, so it was automatically accepted with the title was accepted. the consequence of this is that the effort to start a futures derivatives business will now be illegal. it was in the base tax the nobody moved to take it out. members should know, it was in the base text and nobody strike did, we are effectively enacting it or sending it to the house. we will now be in recess of perhaps 20 minutes to bring this together and get cleaned up. >> senate conferees will come to order. we received -- >> order in the chamber. seriously, please. wood members -- with members take their seats? they are about to vote on an important part of this bill. >> first, we will consider over here and i presume the maybe