as chairman baucus has pointed out, 79 percent of all business software being used in china has been pirated. however, according to the international intellectual property alliance the owners of the notorious chinese web site called tomato garden were recently convicted by a chinese court. since 2003 this website falitated the downloading o 10 million copies of the windows xp software. this is a posiive development. this seems to be an exception to the rule. the alliance notes that 99 percent of all music files being downloaded in china are pirated. 99 percent. in addition there were over half a million member titles who were illegally down loaded in china. therefore my question is, why were they convicted when other large-scale illegal websites remain open fo business? what other lessons to be learned? >> i should be brief. >> i will get back to you. i can't speak to why we have not been able to get china to move more aggressively. we do work with them and encourage them in evercase to bring lgal enforcement and have strenuous and real enforcement. its in our interest and in china's

we worked hard to get that done with senator landrieu, senator baucus, small business and finance. we'll have a vote on monday. again, it's being blocked by the republicans. blocking from us even going to it. so we'll need 60 votes monday to allow us to debate whether or not this country needs small businesses to create jobs. we should be on that bill today so people can start offering amendments and do something productive. no, what will happen on monday, they'll probably vote for it and then they will get the 30 hours to sit around and look at each other and do nothing, that's what the rules of the senate allow. so they accomplished more of their wasting time to prevent the obama administration and the rest of us from accomplishing something good for the country. but we're going to continue to try. we have to do that in spite of the obstructionism of the republicans. would the c is treated by amer'e company.e c is treated by amer'e on thursday, the house committee heard from several bank executives about what they're doing to lower the foreclosure rate. this to our 20 minute meet

we worked hard to get that done with senator landrieu, senator baucus, small busines and finance. we'll have a vote on monday. again, it's being blocked by the republicans. blocking from us even going to it. so we'll need 60 votes monday to allow us to debate whether or not this country needs small businesses to create jobs. we should be on that bill today so people can start offering amendments and do something productive. no, what will happen on monday, they'll probably vote for it and then they will get the 30 hours to sit around and look at each other and do nothing, that's what the rules of the senate allow. so they accomplished more of their wasting time to prevent the obama administration and the rest of us from accomplishing something good for the country. but we're going to continue to try. we have to do that in spite of the obstructionism of the republicans. would the chair annou >> this weekend, alex heard retells of the 1945 death penalty trial of willie mcgee. afterward, he spent 25 days in a dark cell after being captured by taliban fighters. sarah allison within ins

baucus pointed out in his testimony in the rules committee will cost jobs. that's the reason we have grave concerns about it. on the issue of social security, the notion that somehow we are saying to someone who is on social security today that you're going to end up seeing the age increase to 70 is preposterous. we know full well what's going to happen. as we are talking about young workers today in their 20's and 30's who want to make sure that there is something there for social security. if we don't tackle the issue of entitlements, we won't be able to do what the american people have said this congress should be doing, and that is reining in the kind of spending the likes of which we see 84% increase in nondefense spending in the last 17 months. we need to make sure we rein that in and these kinds of proposals will do just that. i thank my friend for yielding. the speaker pro tempore: the gentleman reserves the balance of his time. the gentleman from massachusetts. mr. mcgovern: mr. speaker, my objection about mr. boehner's statement with regard to soci

senator shelby and becky -- rep baucus are well aware that swap dealers have taken advantage of miss fatalities all over the u.s. including jefferson county alabama. the senate version addresses this problem by helping o provide demint street the same protection that other investors -- investors already receive. we also have to ensure that we adequately addressed institutions that have been deemed too big to fail. under our current system, there are a handful of big banks that are simply no longer acting like banks. five of the largest commercial banks account for 97% of the commercial bank notional swap activity. that is a huge concentration of economic power. in my view, banks were never intended to perform these activities in the first place. it is this economic activity that contributed to these institutions growing so large that taxpayers had no choice but to build them out in order to the senate bill includes a provision commonly referred to as section 716 which seeks to address the too big to fail by accomplishing two goals. first, giving banks back to performing the duties th

baucus. clerk will designate the amendment. >> offered by mr. backus. >> i ask unanimoos consent the amendment be addressed. gentleman is recognized for five minutes. >> thank you. we have heard that we are going to have one fund of $150 billion or that could borrow up to 90% of consolidated assets of the largest company -- >> hold on the ccnversation. i apologize. the gentleman is recognized. >> whether that fund is $8 trillion or $150 billion, then we have all gone through this. we know that the creditors of the failing institution -- and it would be a failing institution. you can pay the creditors. you can pay the counterparties as they did in aig. as they did in other instances. general motors, chrysler. then, you get to the point where how do you pay off those creditors? how do you pay off those counterparties? the language is contained in two sections. it basically says this -- and has a priority, which is very similar to the priority in bankruptcy. says that you have to pay them off similar to how they are paid off in bankruptcy. you firs

host: the same question for you, the republicans that have been appointed -- spencer baucus, scott garet, jeb hensarling -- what was their role in crafting the legislation so far and what are the kinds of issues to you see them pressing for? guest: in the house republicans unanimously opposed the bill on the house floor when it passed in december. the republicans you just mentioned are members of the house financial-services committee. there were plenty of provisions on the marked up in december in which democrats and republicans worked together. perhaps not the majority of provisions, but some of them, at least. so, there is perhaps some scope for working out a few agreements on specific provisions. it is unlikely they will come out and all of the sudden support the bill. host: as you know, barney frank has been requesting for suggesting that he wants c- span, and therefore, televised coverage of the sessions of the conference committee. i should say our network has committed it will have a camera inside every open session as it meets, and we will make sure the people who are interested

senator shelby and becky -- rep baucus are well aware that swap dealers have taken advantage of miss fatalities all over the u.s.ncluding jefferson county alabama. the senate version addresses this problem by helping o pride demint street the same protection that otr investors -- investors already receive. we also have to ensure that we aduately addressed institutions that have been emed too b to fail. under our current system, there are a handful ofig banks that are simpl no longer acting like banks. five of the largest commercial bankaccount for 97% of the coercial bank notional swap activity. that is a huge concentration of economic power. in my view, banks were never intended to perform these activities in e first place. it is this economic activity that contributed to these institutns growing so large that taxpayers had no choice but to build them out in order to the senate bill includes a prion commonly referred to as stion 716 which seeks to address the too big to fail by accomplishg two goals. firs giving banks back to performing the duties they were taking deposits and mang

baucus, as well as the chairman, and the gentleman from colorado. i rise to express my opposition to the rule for the financial bill that gives wall street firms the potential, permanent bailouts, institutionalizes too big to fail, and will ultimately constrict lending to consumers and small businesses at the worst possible time for our economy. the underlying measure does not fully audit the fed and does nothing to rein in housing giant fannie mae and freddie mac that already cost u.s. taxpayers $145 billion and counting. the troubled asset relief program fund by the original law was supposed to be used to reduce the deficit. none of the funding source for new spending and the increase in the ratio at the fdic should not be used for anything other than protecting depositors and bank failures. if the democratic majority had chosen a fiscal bath of more spending and borrowing, this at a time when the federal debt is $13 trillion and rising rapidly. the americannpeople deserve a better plan that puts an end to bailouts, reins in fannie mae and freddie

baucus? >> yes. >> mrs. bigart? >> aye. >> mr. henserling? >> aye. >> mr.arrett votes aye. >> clerk will report, please >> mr. chairman on that vote there are six ayes and ten nees. >> let me turn to a house response to the senate. >> i now move the house nd to the senate subtitle -- title 9 subtitle d as in david. we accept the senate counter offer with three modifications involving the landru and capro amendments. are there any further discussns? >> do you have a copy? >> i've since been informed we may have an agreement here. so i withdraw that amendment. i'm sometimes the last to know but at least still in time. so i -- do we now have a further one -- which one? and what's in the -- anything else? >>> i now move a counteroften on title 14. we accept the senate counteroffer with the following changes. we want to modify the language regarding the authority of hud, the department of veterans affair, agriculture to define qualified mortgages. we want to modify the aamendment regarding mortgage fraud. we had some concern o our judiciary committee part about