mr. frank: mr. speaker. the speaker pro tempore: for what purpose does the gentleman from massachusetts rise? mr. frank: mr. speaker, pursuant to an agreement between both sides, i ask unanimous consent that during further consideration of h.r. 4173, pursuant to house resolution 964, amendments number 1 and 36 be considered as modified by the forms at the desk. the chair: the -- the speaker pro tempore: the clerk will report the modifications. the clerk: modification to amendment number 1 printed in house report 111-370 offered by mr. frank of massachusetts. on page 152 of the amendment numbered 1, strike 74 and the following text through page 153 line a. mr. frank: mr. speaker, i ask unanimous consent that the reading be dispensed with. the speaker pro tempore: is there objection to the question? no objection -- to the request. no objection is there objection to the original request? hearing none your amendments are modified. pursuant to house resolution 964 and rule 18 the chair declares the house

mr. frank: i am ready to close. the chair: the gentleman reserves this egentleman from new york is recognized. mr. murphy: in closing, i want to say that i think what we have here is an amendment that will take us back to the common sense solution that we found on a bipartisan basis in the ag committee. it's a solution that does get at the root of the problem. we've got large financial institutions who need to have additional accountability and regulation. that's what we're trying to do with our major swap participants. but it carves out our manufacturers and energy companies that use derivatives to hedge their risks thavepls why we've got support nor amendment from the american wind energy association, the national association of manufacturer the national rural electric cooperative. our businesses that are using derive totives to hedge risks need not be subjected to the same requirements as large guys and dealers. we need to make sure end users are protected so they can use this successfully to stabilize their busin

mr. frank: mr. chairman, i begin by yielding four minutes to one of the members of the house who has a very significant imprint in this bill, all to the protection of investors and the integrity of our markets. the chairman of the capital markets subcommittee, the gentleman from pennsylvania, mr. kanjorski, four minutes. the chair: the gentleman from pennsylvania is recognized for four minutes. mr. cannon: mr. chairman, i -- mr. kanjorski: mr. chairman, i want to thank the chairman of the full committee recognizing me and to assert for the record in the full house that although today is a huge bill of 1,300 pages or 1,200 pages will be difficult to describe and probably not well understood by the people watching this proceeding or all the members of the house, i want to say that i'm proud to have worked under the fought tolage of the chairman, mr. frank, and i think that in years to come historians will look back at in this moment and say, when there was need in this country for reformation it was h

mr. frank: madam chair, we keep hearing about these studies. they were commissioned by organizations ideologically opposed to this and surprise, surprise they have gotten back the answers they want. i haven't seen them. they are not worth anything. they are simply quantifications of ideology which are entitled to no weight. i understand that there are people who do not like consumer regulation. what we learn is that in its absence abuses can proliferate that become systemic problems. it's especially relevant when we are dealing with the elderly. we know there are people who are preying on older people. there are people eligible for this program in their 80's who have lives ever hard work that did not include sophisticated involvement with financial instruments. there have been problems of abuse. we in fact adopted i think without opposition a piece of legislation that said, can you not be the one that sells somebody reverse mortgage and then becomes his or her investment advisor because of the

mr. frank: mr. chairman, i begin by yielding four minutes to one of the members of the house who has a very significant imprint in this bill, all to the protection of investors and the integrity of our markets. the chairman of the capital markets subcommittee, the gentleman from pennsylvania, mr. kanjorski, four minutes. the chair: the gentleman from pennsylvania is recognized for four minutes. mr. cannon: mr. chairman, i -- mr. kanjorski: mr. chairman, i want to thank the chairman of the full committee recognizing me and to assert for the record in the full house that a@@@@@ @ first and foremost we discovered that there were greating regulators in transparency and accountability in the rating agencies as they acted to evaluate various sets of securities in the world markets. and when we examined the rating agency in great detail and through hearings and examination we found that these entities were poorly -- not really regulated at all, but certainly poorly accounting for their own responsibilities

mr. frank: to claim the time in opposition. the chair: the gentleman is recognized for 10 minutes. mr. frank: i yield to a member of the financial services committee who we will greatly miss when he retires, the gentleman from kansas, mr. moore. the chair: the gentleman from kansas is recognized for two minutes. mr. moore: thank you. i rise today to owe poles the amendment offered by my colleague. i know my colleague offers this alternative to the consumer financial protection agency in the spirit of wanting to do all we can to better protect consumers and i certainly share that view. but i don't support this proposed consumer financial protection council as the best way to accomplish that objective. this amendment effectively eliminates four days of thoughtful markup for cfpa and nearly 50 amendments offered by republicans and democrats to improve the bill. i'm concerned the amendment before us maybe unconstitutional, empowering a three-member state panel to decide how states will take a posit

mr. frank: another member said that, yes. mr. garrett: i thought i heard it from you, just as i thought i heard from you that there's nothing in our bill regarding executive compensation. i know that we do have language in our bill with regard to executive compensation. i know i heard from the chairman, i thought i heard the chairman say, there was nothing in here with regard to federal powers. regardless of if it's one issue or two, i would just ask the chairman to refer back to my earlier comment the reason we're concerned with the expensive nature and largeness of the bill is because when it gets so large, 1,300 page you side of the aisle is not familiar with what's in your bill and even our bill, which is not as big in size, you don't know what's in it either. taxpayer funded bailout, i did have to point out to the chairman that in your bill, in the judiciary committee self-executing amendment, there is language that basically perpetuates what's occurred this year that the american people are opposed to, taxpayer funded bailo

mr. frank: the gentleman would yield. mr. garrett: yes, sir. mr. : i would say, if there were to be a no on the voice vote, i think that would be a reasonable end to this particular discussion and we can then continue on the level we talked about. mr. garrett: with that comment and also with the understanding that we are not talking about the other c.r.a., ou

mr. frank: madam speaker, the assertion that the economic recovery bill, the stimulus bill, has created no jobs is i must say one of the least intellectually unsupportable statements i have heafered on the house floor and i have -- i have heard on the house floor and i have been here for a long time. here's where we are. the fact is that the obama recovery from the bush recession has been going more slowly than any of us would like, but it is undeniable. by every statistic it is going for. now, if you listen to my republican colleagues, you learn that the third worse day in american history was january 21, 2009, the worse is pearl harbor and then we had the mass murders of september 11, 2001. what was the worse day, january 21, 2009, because according to this debate, guess what happened on january 21, 2009? the federal budget, which was apparently in surplus, all of a sudden plunged into deficit. unemployment suddenly appeared. the war in afghanistan, by the way, was going wonder flee until jan

mr. frank is the drafter of the legislation of, did not work last time. we needed something before bankruptcy or during bankruptcy, or in preparation for handling a crisis, a financial crisis other than bankruptcy. with that they came up with the resolution authority in the form of a bill as prepared by the committee. we have another alternative. we do not have to force lehman brothers into bankruptcy. they could take another route, and it would be a managed downturn. when the secretary performed by questioned his legitimate authority under the commerce clause to go one step further and preemptively prevent getting to the point where the company is having such a systemic risk to society than they may bring it down. if they do, why wait until that critical stage? why not look at what has happened and recognize that there are some companies -- is not just size, it might also be interrelationships and interconnections. there are all different reasons but they have so many tentacles in our system t

mr. frankmadam speaker, the assertion that the economic recovery bill, the stimulus bill, has created no jobs is i must say one of the least intellectually unsupportable statements i have heafered on the house floor and i have -- i have heard on the house floor and i have been here for a long time. here's where we are. the fact is that the obama recovery from the bush recession has been going more slowly than any of us would like, but it is undeniable. by every statistic it is going for. now, if you listen to my republican colleagues, you learn that the third worse day in american history was january 21, 2009, the worse is pearl harbor and then we had the mass murders of september 11, 2001. what was the worse day, january 21, 2009, because according to this debate, guess what happened on january 21, 2009? the federal budget, which was apparently in surplus, all of a sudden plunged into deficit. unemployment suddenly appeared. the war in afghanistan, by the way, was going wonder flee until janua

mr. frankam speaker, the assertion that the economic recovery bill, the stimulus bill, has created no jobs is i must say one of the least intellectually unsupportable statements i have heafered on the house floor and i have -- i have heard on the house floor and i have been here for a long time. here's where we are. the fact is that the obama recovery from the bush recession has been going more slowly than any of us would like, but it is undeniable. by every statistic it is going for. now, if you listen to my republican colleagues, you learn that the third worse day in american history was january 21, 2009, the worse is pearl harbor and then we had the mass murders of september 11, 2001. what was the worse day, january 21, 2009, because according to this debate, guess what happened on january 21, 2009? the federal budget, which was apparently in surplus, all of a sudden plunged into deficit. unemployment suddenly appeared. the war in afghanistan, by the way, was going wonder flee until january

without objection a motion to reconsider -- mr. frank: mr. speaker. >> on that i ask for a recorded vote. the speaker pro tempore: a recorded vote is requested. those favoring a recorded vote will rise. a sufficient number having arisen, a recorded vote is ordered. members will record think a vote by electronic device. this is a five-minute vote. [captioning made possible by the national captioning institute, inc., in cooperation with the united states house of representatives. any use of the closed-captioned coverage of the house proceedings for political or commercial purposes is expressly prohibited by the u.s. house of the speaker: on this vote the yeas are 223, the nays are 202. the bill is passed. the bill is passed. without objection the motion to reconsider is laid upon the the speaker pro tempore: pursuant to clause 8 of rule 20, the unfinished business is the question on agreeing to the speaker's approval of the journal which the chair will -- denote. the question is on agreeing to the speaker's approval of the journal. those in fav

as we move along systemic risk, which mr. frankrafter of the legislation of, did not work last time. we needed something before bankruptcy or during bankruptcy, or in preparation for handling a crisis, a financial crisis other than bankruptcy. with that they came up with the resolution authority in the form of a bill as prepared by the committee. we have another alternative. we do not have to force lehman brothers into bankruptcy. they could take another route, and it would be a managed downturn. when the secretary performed by questioned his legitimate authority under the commerce clause to go one step further and preemptively prevent getting to the point where the company is having such a systemic risk to society than they may bring it down. if they do, why wait until that critical stage? why not look at what has happened and recognize that there are some companies -- is not just size, it might also be interrelationships and interconnections. there are all different reasons but they have so many tentacles in our system that if th

as we move along systemic risk, which mr. frank is the drafter of the legislation of, did not work last time. we needed something before bankruptcy or during bankruptcy, or in preparation for handling a@@@@@@@ @ @ @ @ @n resolution authority in the form of a bil they put that in the form of a bill and that was prepared by the committee. 5j when the secretary was before me i questioned, they felt they had the legitimate authority and i guess he feels they can go one step further and preemptively prevent getting to the point where they are having such a systemic risk to society and may bring down the economy. why wait to that critical stage? why not look at what's happening and recognize that there are some companies, but it may be size and maybe interrelationships and maybe interconnections, there are all different reasons, but they are so -- have so many tencals into our system that if they are arranged individually to fail or potentially to fail they could bring down the entire system. and minority to prevent that from happening i

and mr. frank, december 15, 16, 17 and 18, five minutes each. speaker pro tempore: without objection. for what purpose does the gentleman from pennsylvania rise? >> i ask unanimous consent that today following legislative business and any special orders heretofore entered into, the following members may be permitted to address the house for five minutes to revise and extend their remarks and include therein extraneous material, mr. altmire of pennsylvania for five minutes, ms. woolsey of california for five minutes, mr. defazio of oregon, ms. kaptur of ohio for five minutes and mr. mazzh massa of new york for five minutes. the speaker pro tempore: without objection. the speaker pro tempore: under the speaker's announced policy of january 6, 2009 and under a previous order of the house, the following members are recognized for five minutes each. mr. altmire of pennsylvania. mr. altmire: i rise to pay tribute to bobby bowden. he will retire following the gator bowl following football's most successful coaches. many of us may not realize he was an

we still need separate bills and that is the point that mr. frankis making by including in the package that he has proposed a mortgage reform bill that sends a definite -- sets definite benchmarks. cfpa, the primary principle and the goal was to set up an agency focused on consumer protection with independence from the provincial regulator. we have often seen overlap between safety and soundness and consumer protection. quite often, there is conflict. one example that -- that we are focusing on is overdraft fees. they are safe and sound for banks. they have been devastating for account holders, particularly low income account holders that are driven out of the financial system. one of the most disturbing developments is on the senate side. there is talk about going back to where we all started. we're branching the labels and putting cfta possibly back into the agency with a provincial regulator. that would be a major step backwards in our view. >> do you want to comment about that? >> we looked at this. we recognize that mortgage lending and mortgag

the ranking member of the financial services committee, the gentleman, mr. frank, had a quick response that said, there's no problem. there's no problem. that's the last thing we should be doing. their books are clean. they knew that everything was ok. in 2005, just the next session, legislation did pass and was filibustered in the senate by democrats. filibustered by democrats. to say that the wild west exists would be a misnomer. in financial services terms. there were people who broke the law. there have always been people who break the law, but the people who broke the law knew that they were breaking the law and did so at the expense of other people's money. but if you want to talk about recession, let's talk about the recession that we're in right now. after three years of democrat control in this house of representatives. let's talk about 85% increase in spending that this body is going to take up a bill today to spend 85% more in the last two years by this democrat-controlled congress. so i think that we should be very careful about trying to describe a pr

mr. frank metersky, the washington liaison for the families of the missing. ms. robin piacine, the cold war and pow/mia. and mr. broward, the mia advocate. our second panel, and we were very pleased to have them participate also in july will be the honorable charles ray, deputy assistance, secretary of defense for pow/mia affairs and commander chris for the accounting command. i want to welcome y'all. and again if you can give us your testimony in three minutes, do y'all have that information that we were hoping that you could do that? we always make a habit to come back and make sure you've had a chance to make sure to say something that's critical and important in the end. do you have any comments? >> thank you. indeed. i appreciate your efforts that nobody is going to be cut short. chairman davis has been terrific about providing for time. and we'll be back. i want to begin by thanking the distinguishing members of our two panels. we look forward to hearing your testimony and working with you to fulfill our commitment to our american heros who are missing in ac

probably was the highest recruited player that frank haith was able to sign. before mr.>> mike: before mr. scott showed up, absolutely. if that trend continues, the rest of the team may be in trouble. frank has a nice connection in new york city now. right-hander, southern offensive rebound and the putback! the first opportunity to be converted on. they really established themselves on the offensive glass, they need to see something good happen as a result o. frak haith will go to the bench. we will look at malcolm grant in a minute. you establish your offense, you do it with the referees an starts to show on itself. right hook won't go and goes the other way. a foul. that will be on collins, his first personalment malcolm grant comes in wearing number 3, transfer from villanova. checking in audrdrian thomas, number 30. working on grant. shooting the three. jackson in the corner. jones on him. in that zone. reggie johnson, the big guy from south carolina with the basketball. >> mike: so far, made a nice presence on the floor an defensive presence. checking in for boston

frank's insurance company decided that frank should have known that his occasional headaches were a sign of m.s. and took away his coverage. retroactively, mr. president. frank's doctor wrote them a letter saying there was no way anyone could have success specked that problem. an ordinary headache was related to multiple sclerosis. the insurance company left frank high and dry, sticking him with a $30,000 medical bill he couldn't afford. frank's conditions got worse, left his job, went on public assistance. kevin galvin, a small business owner in my state. a number of times -- and we've talk the over the laflt year or so -- his company -- kevin owns a small business, a maintenance company, employees seven people, some only older, some younger. can't afford to insure them. his younger employees use the emergency proem as their regular doctor. one of them has a child with an ear infection -- the presiding officer: the majority time has expired. mr. dodd: i thank you. could i just have one additional minute, i ask my colleagues? a senator: i ask unanimous consent for an additional minute. the presiding officer: is there objection? mr. dodd: i

mr. king and others who have been supported, -- supportive, and particularly chairman frank for his leadership and mr. hoyer. it's time for us to have a system so the american people can tell in realtime how their tax dollars are being ewed. i would add i also believe it would build confidence in the system, hopefully confidence that's being managed in an appropriate way. i reserve the balance of my time. the speaker pro tempore: the gentleman from california. mr. campbell: i yield myself such time as i may consume. the speaker pro tempore: the gentleman is recognized. mr. campbell: i rise to support this bipartisan bill offered by the gentlelady from new york and the gentleman from new york, mr. king. you know, this bill is really pretty simple and it's really just about transparency, disclosure, and sunshine. $700 billion of taxpayer money was made available last year in order to provide a rescue plan for the financial system, which was troubled at that time. we all know that much of this money has gone out, but what we don't really know is what it has gone to do, what it is being used for,

mr. courtney, and also co-sponsored by chris murphy, honors francis "frank" mccourt, who was born on august13, 1930 in brooklyn, where his irish immigrant parents had hoped to make a better life in the midst of the great depression. mr. mccourt and his family relocated to limerick, ireland, when he was 4 years old, only to sink deeper into poverty. as noted by mr. mccourt, his family's circumstances was so dire that he often dreamed of becoming a prison inmate so he can be guaranteed three meals a day and a warm bed. the death of three of mr. mccourt's six siblings in early childhood, his father's abandonedment and his family's continued poverty are only some of the hardships that plagued mr. mccourt's childhood until 19 when he took his savings and boarded a ship to new york. he joined the united states army and was stationed in germany during the korean war. while his formal education ended at the age of 13, mr. mccourt nevertheless gained admission in new york university and earned a degree in english education in 1957 on the g.i. bill. one year later mr. mccourt began teaching at the ag

mr. krimminger, we, barney frank and i signed a letter to the administration because we were very pleased when you took over andy and the way you do flow modifications, and we thought at that time somehow it should be organized ways you should be in charge of loan modification program. can you identify for ross would you have discovered that really works? don't you have some ideas about how we could do this better? i know that -- i hope all the agencies are talking to each other and you have had opportunity for input, but it is not evident. what would you advise? what have you done to make these loan modifications real? what should be done? >> thank you, chairman waters. we appreciate your support on this. we do support the treasury's following that with the hamp program to make sure that it works. certainly there are times and i think this is one of them and treasury agrees for innovations and innovative thinking. we provided recommendations to the treasury and the development of hamp as you know the hamp itself includes a waterfall of options which were modeled on the ones we used in an

frank and? >> thank you, mr. chairman and thank you madame secretary.since october 2003, 104 immigrant detainees have died in our custody. in the custody of the immigration and customs enforcement. i'm sure some of those were inevitable, but others were likely preventable. for example, in 2006 a man from ghana died in custody from a heart attack while guards waited 40 minutes to provide hand medical attention, let alone open his cell. he was alone in a cell for 40 minutes. last year another detainee died after falling and fracturing his skull and then according to the newspaper account being shackled and pander to the floor of the medical unit of the modes and commented then being left in a cell for more than 13 hours. an ecuadorian woman, died in a minnesota facility three years ago. i've found that her death was inevitable but also found that she was not undergone her medi-cal intake exam despite being detained for two months. you inherited this problem here it i know that. and i know that you are trying to fix it but the first step in improving condi

frank and? >> thank you, mr. chairman and thank you madame secretary.ince october 2003, 104 immigrant detainees have died in our custody. in the custody of the immigration and customs enforcement. i'm sure some of those were inevitable, but others were likely preventable. for example, in 2006 a man from ghana died in custody from a heart attack while guards waited 40 minutes to provide hand medical attention, let alone open his cell. he was alone in a cell for 40 minutes. last year another detainee died after falling and fracturing his skull and then according to the newspaper account being shackled and pander to the floor of the medical unit of the modes and commented then being left in a cell for more than 13 hours. an ecuadorian woman, died in a minnesota facility three years ago. i've found that her death was inevitable but also found that she was not undergone her medi-cal intake exam despite being detained for two months. you inherited this problem here it i know that. and i know that you are trying to fix it but the first step in improving condit

such as diane feinstein, christopher dodd, ron by deny, frank lautenberg, patty murray, arlen specter, mary landrieu, and maria cantwell. now, mr. president, here's a letter dated 30 september, 2003. and it says, "dear medicare conferee:" it says united states senate, and it's signed by a number of senators, including my colleague, senator kerry. "we're asking" addition -- "we're writing to ask you as a member of the medicare conference committee to ensure that the final medicare bill includes a meaningful increase in medicare choice funding in fiscal years 2004-2005." so i guess that my friend and colleague, senator kerry, was against cuts in funding before he was for it. he was against them before he was for them. so anyway, it goes on to say, "you strongly support additional medicare choice funding for two very important reasons. one, to protect the health care choices and benefits of the nearly 5 million medicare beneficiaries who are currently enrolled in private-sector health plans. and, two, to strengthen the foundation for future health plan choices. we believe that the medicare choice funding provisions are critically

mrs. smith, for that moving story and your courage, not only for telling your own story but also for being the voice for so many victims out there, and on behalf of senator frank and myself, we welcome steve reading, our next witness and a minnesotan. when i became the county attorney, over a million people in minneapolis, 45 suburbs, i came in from the outside without a lot of criminal experience and i wanted to put someone in charge of the violent crimes division that had the trust of the people in the office and that was steve reading. he served well in that role but most importantly for our hearing today, he is one of the national experts on dna and that means not only being a tough smart trial lawyer and being able to convince a jury hike so many good prosecutors but it also means having the willingness and determination and intellect to learn the science of d.n.a. which is not that easy for so many lawyers to dig in and read all the scientific articles, because we have to be as sophisticated as a science and the people on the other side. his wife suzanne is here as well, who believes, mr. chairman, that you can use this newfound science, not only to conv

frank on the democrats' line. good morning. >> caller: good morning. i like mr. ricks for whom i have a great deal of respect to address a number of issues. number one, isn't it true that we are inserting ourselves into an ethic conflict between the pashtuns in the south who are almost half of the population of afghanistan and the rest of the ethnic groups in the northern part of the country which are the us beck, the turkmen, etc. and the pashtuns are really the fighters of the afghanistan. they've been there fighting for centuries against foreign occupiers. >> host: frank, we're going to take that first point because we're running out of time. tom ricks? >> guest: the caller is correct that there is a real problem there with ethnicity and the belief of the pashtuns that tajics especially have been kind of lording it over them in recent years and that hamid karzai, while a pashtun, is simply a pashtun face on northern alliance, tajic rule. it is a problem we have to address. i think sensitivity to ethnicity is really important. but i also think that afghanistan

frank just last week. wheat ended on a note of job creation. i want to congratulate all of those in congress who are present here. i want to acknowledge mr. reuthoyer, mr. larson, mr. mill, ms. delauro, but they and other members were part of bringing together this important and obsession for us. i just want to say this. when we began this year, i think it is important to note, when we began this year, the first month of the year, this economy lost 740,000 jobs. because of our recovery package and the leadership of president barack obama, in this last month, the economy lost 11,000 jobs. 740 a year ago, 11,000 last month. we do not want to lose any jobs. we're going on the path of creating a net gain of creating new jobs. in that same period, the stock market went up over 3,000 points, from the day president obama took office where the market was about 7000, to now over 10,000. economists tell us a lot of that change relates to our recovery package and other fiscally sound measures taken by congress. and i think it is important to note what has happened to the gdp. think of this. we have stimulated the economy to grow. in the first quarte

hope they will engage in a frank discussion about the relationship between a chart-3125, a charge-3019, and proposals -- h r-3125, h r- 3019. thank you for your courtesy, mrairman. i commend you again for this hearing and the foresight that you're showing with it. i yield back the balance of my time. >> thank you, chairman dingell. the judgment from oregon, mr. walden, is recognized for two minutes. >> thanks for holding in legislative hearing on these two bills. i think that is important and an improvement of our process to have this oversight. i want to welcome my center, gordon smith, who has overtaken the raids of the national association of broadcasters. i am still his congressman, even if he is not now by senator. but we have been friends and colleagues in the legislative arena for years, and we welcome you. now that i have sold our broadcast stations and you have gone to the broadcasters, i'm going to go into p packing. i am going to point out a couple of things. i encourage my colleague from illinois on the d block issue. i also want to point out another issue related to public safety, and i am not sure it will get spoken today. that is use of the

mrs. smith, for that moving story and your courage, not only for telling your own story but also for being the voice for so many victims out there, and on behalf of senator frank and myself, we welcome steve reading, our next witness and a minnesotan. when i became the county attorney, over a million people in minneapolis, 45 suburbs, i came in from the outside without a lot of criminal experience and i wanted to put someone in charge of the violent crimes division that had the trust of the people in the office and that was steve reading. he served well in that role but most importantly for our hearing today, he is one of the national experts on dna and that means not only being a tough smart trial lawyer and being able to convince a jury hike so many good prosecutors but it also means having the willingness and determination and intellect to learn the science of d.n.a. which is not that easy for so many lawyers to dig in and read all the scientific articles, because we have to be as sophisticated as a science and the people on the other side. his wife suzanne is here as well, who believes, mr. chairman, that you can use this newfound science, not only to conv