mr. baucus: mr. president, christopher reeves once said that a hero is an ordinary individual who finds the strength to persevere and endure in spite of overwhelming obstacles. i today want to call attention to five montana heroes. every day, folks making the super heroic effort to help their friends and neighbors. i enjoy sharing these stories, i'm proud of these stories because they tell the story of what it is to be a montanan. with all the flooding that's going on, mr. president, in my state of montana and other states of the nation, i just want to mention it can happen mentioning the names of many montanans, many montana heroes who have been rising above and beyond the call of duty and are following christopher reeves' definition of what it means to be a hero. we in montana might say -- pride ourselves in helping our fellow neighbors. i know that's true in all states all across our country. i don't want to say it just in the state of montana, but i can say that in our state it is really special.

mr. baucus: mr. president, i rise to express my strong support for s. 782, the five-year reauthorization of the economic development administration, which frankly i am proud to have cowritten. abraham lincoln said the legitimate object of government is to do for a community of people whatever they need to have done, but it cannot do it all or cannot so well do for themselves in their separate and individual capacities. end kwoefplt that is what the economic -- end quote. that is what the economic development revitalation act will do. it will help americans achieve what they cannot so well do for themselves. e.d.a. is the only federal agency charged solely with job creation. each dollar e.d.a. funding leverages nearly $7 in private-sector investments. from 2005 to 2010, during the administrations of presidents from each political party, the e.d.a. awarded $1.2 billion in construction-related revolving loan projects. according to estimates, more than 314,000 jobs resulted from those investments. e.d.a.

mr. baucus: john wooden, the legendary uyla basketball coach who won more division one ncaa championships than anyone else once said -- quote -- "do not let what you can not do interfere with what you can do." end quote. it takes team work to win ten championships. i rise today to recognize the remarkable teamwork, championship-level teamwork we're seeing back home in montana. this is the third time i've come to the senate floor to share stories about the remarkable actions taken by regular folks across montana. their teamwork is making a huge difference. john wooden would have been proud to coach this team. this is a championship team. and we need this kind of teamwork. flooding continues to damage property and destruct lives across montana. the president has issued a major disaster declaration. warm weather threat tons unlock water stored at record levels. i've never seen anything like this. the old timers at home have never seen anything like this, so much snow yet melting so quickly. the chart to my left is part of anyway, wolf point, montana. it sits along the mighty missouri river.

mr. o'connor, we will start with you. >> thank you, chairman baucus, a ranking member french and members of the committee. for the opportunity to testify today. i would like to begin by making five key points. first is to represent more than 800 members from 56 countries. ever brought membership includes corporations, asset managers, governments, supranational entity some exchanges, clearing houses as well as global and regional banks. our members support the goals of dodd-frank and global financial regulatory reform. we have worked with policy makers in the u.s. and around the world. second, we have made and continue to make substantial progress in implementing the most important aspect of reform, those relating to the systemic risk mitigation such as the central clearing and triet repositories. ferre, further improvements can and will be made and i would like to note that there is a high degree of consistency between u.s. regulators and regulators in other major jurisdictions of a systemic risk pools related to recording. is very helpful for the market participants. on the other hand,

mr. baucus: mr. president, i ask to speak as if in morning business. mr. baucus: i suggest that further proceedings of the quorum call be dispensed with. the presiding officer: without objection. mr. baucus: mr. president, i ask to speak as if in morning business. the presiding officer: without objection. mr. baucus: the book of matthew chapter 23 verses 1112 read, the greatest miewng will be your servant, those who humble themselves will be exalted. i rise today to recognize five of montana's great servants. our state has faced severe flooding, unrelenting flooding for the past several weeks, water levels rising, montanans across the state stepping up to help. this is the essence of what it means to be a montanan, stepping up to help ordinary montanans, ordinary folks doing extraordinary things for their friends and neighbors. we're all in this together. that's why i'm calling attention to montana heroes, going above and beyond the call of duty in the floods that we are experiencing in our state today. i want to recognize pastor kathy moorhead of the unite