the house and senate with barney frank and christophe dodd have plans that will make the financl system safer for wall street. thesbills do some very important things. this ends the bailouts for the taxpayers and this provides transparency and accountabity, and the oversight of the entire financial system so that regulators are able to address excessive risks befe they build to the unstainable lels. my hope is that we will take the best ideas from both of the bills and put -- lakesid ias that go too far and may have unintended conquence for our constituents and the small community banks to have nothing to do with the crisis. i want to commend the blue dog democrats that have worked to enhancregulatory oversight, to protect consumers aninvestors. we are going to continue working to preserve the ability of small business and we will help them take appropriate risks for job creation. and i believe that the final bill will help work on the this will provide a stronger financial system that will better protect the consumers and taxpayers for generations to me. i will yield back. >> the gentl

the house and senate with barney frank and christopher dodd have plans that will make the financial system safer for wall street. these bills do some very important things. this ends the bailouts for the taxpayers and this provides transparency and accountability, and the oversight of the entire financial system so that regulators are able to address excessive risks before they build to the unsustainable levels. my hope is that we will take the best ideas from both of the bills and put -- lakeside ideas that go too far and may have unintended consequences for our constituents and the small community banks to have nothing to do with the crisis. i want to commend the blue dog democrats that have worked to enhance regulatory oversight, to protect consumers and investors. we are going to continue working to preserve the ability of small business and we will help them take appropriate risks for job creation. and i believe that the final bill will help work on the this will provide a stronger financial system that will better protect the consumers and taxpayers for generations to come. i will yi

after the vote, senator christopher dodd and barney frank talk to reporters about the bill. >> i asked the clerk to call the house members who are all entitled to vote on this. >> will be conforming to technical -- do we as consent for that to occur? >> the effort will be to get this bill on to the internet as the title is red, and expect a vote on tuesday. the clerk will now call the roll -- >> when will we anticipate seeing the technical amendments? >> can i ask the staff -- as we produce them, some tomorrow, i would object to a staff member that came in here before noon tomorrow, i think. today. [applause] senate staff will be at their desks at 8:30 this morning. >> having slept there for the next couple of hours. i asked that a clear cola role on the passage of the financial reform bill. >> the chairman votes aye. ms. waters votes aye. mrs. maloeny vo-- maloney votes aye. mr. gutierrez votes aye by proxy. ms kilroy votes aye by proxy. mr. peters votes aye. mr. peterson votes aye by proxy. mr. boswell votes aye by proxy. mr. waxman votes aye by proxy. mr. conyers votes aye by proxy.

during the hearings in 1991 or 1992, christopher dodd chose to add to the bill the investment banks as opposed to savings and loans. host: let me ask you about the "new york times" regarding derivatives. what are your thoughts? caller: dreamt his are perfectly fine. -- derivatives are perfectly fine. they are not too risky as the mortgages were. ok? as far as overseas companies having to do it, i say no. why do not we outdoors the whole government, outdoors everything? -- outsourced the whole government, out source everything? host: next of the cincinnati ohio on our line for the democrats. caller: i actually see the biggest problem in the fact that we started creating mortgage- backed securities. back in the days when i was growing up, we had mortgages that were held of the things that actually loan to the money. -- at banks that actually loaned you the money. if they have a cap in the organization, they would create derivatives off to a million different places. caused a serious hedging of these mortgage backed assets. >> thank you for your call. >> in the "washington post." host: th