mr. franken to take away issuer pay. these are all important. >> it's not so much issuer pay, issuer select. >> the time of the gentleman has expired. if the witness has completed the answer. >> i was going to try to ask mr. thomas to respond. >> the chair will note there are five remaining members in the room who have had a chance to question. >> is there a way our former colleague could have 20 seconds. >> we will allow the five members who haven't asked questions to question the witnesses so we may dismiss this panel at approximately 12:30. we'll give chairman thomas 30 seconds. >> thank you very much. big, big problem. in your new york testimony, we had people who were former participants in the rating folks tell us highwthey changed their business model. we haven't focused on the short-term financing, the commercial paper, the repo paper, overnight financing. based on the ratings, people would accept or they wouldn't. what scared me was the first regulation coming out of dodd frank was on the rating agencies. they s

mr. chairman. senator franken? >> i really have enjoyed listening to the chairman, who really has board into the sun -- who really has bored into the subject, and former attorney general -- what was it, 50 years, something like that? [laughter] i would actually like an answer to the chairman's question from mr. grossman -- which of the three requirements do you object to, that someone with full authority for the lender in the loss mitigation program be there, that they show up during the loss mitigation program, and that they act in good faith. which of those three do you object to? >> senator, as i stated, my objections with the man-is with the mandatory nature of the i suppose you could take that as being all three, although i do not think it is an accurate way of describing it. it is the mandatory nature of the program. >> ok. the mandatory nature in a bankruptcy court, where, as a bankruptcy judge, judge drain, you have the authority, your job is to resolve all these claims on someone when they go bankrupt, rig

mr. franken to take away issuer pay. ese are all important. >> it's not so much issuer pay, issuer select. >> the time of the gentleman has expired. if the witness has completed the answer. >> i was going to try to ask mr. thomas to respond. >> the chair will note there are five remaining members in the room who have had a chance to question. >> is there a way our former colleague could have 20 seconds. >> we will allowthe ve members who haven't asked questions to question the witnesses so we may dismiss this panel at approximately 12:30. we'll give chairman thomas 30 seconds. >> thank youery much. big, big problem. in your new york testimony, we had people who were former participants in the rating folks tell us highwthey changed their business model. we haven't focused on the short-term financing, the commercial paper, the repo paper, overnight financing. based on the ratings, people would accept or they wouldn't. what scared me was the first regulation coming out of dodd frank was on the rating agencies. they said the

franken. >> thank you, mr. chairman. i'd like to welcome the -- my new member member -- my new mem, the new members to the committee of which i'm one. senator hogan was governor of new north dakota, they discovered and developed tremendous oil resources, and some in north dakota say he created them. i'd like you to come over to minnesota and do the same. i want to turn to renewables. because that's something that we do really well in minnesota. dr. newell, we need to be open to a diverse array of options as we think about energy policy. but as you say in your testimony, renewals seem to be where the largest growth is in the next 25 years; is that right? >> yes, that's correct. they have the -- by far the fastest rate of growth. >> well, as i said in minnesota, we're a national leader in renewables, especially wind and biofuels. we're transitioning into renewables fast, largely due to policy like renewable energy standard, 25% renewables by 2025. and i'm proud to say that minnesota utility met the 2010 targets under the r

franken. >> thank you, mr. chairman. i'd like to welcome the -- my new member member -- my new mem, the new members to the committee of which i'm one. senator hogan was governor of new north dakota, they discovered and developed tremendous oil resources, and some in north dakota say he created them. i'd like you to come over to minnesota and do the same. i want to turn to renewables. because that's something that we do really well in minnesota. dr. newell, we need to be open to a diverse array of options as we think about energy policy. but as you say in your testimony, renewals seem to be where the largest growth is in the next 25 years; is that right? >> yes, that's correct. they have the -- by far the fastest rate of growth. >> well, as i said in minnesota, we're a national leader in renewables, especially wind and biofuels. we're transitioning into renewables fast, largely due to policy like renewable energy standard, 25% renewables by 2025. and i'm proud to say that minnesota utility met the 2010 targets under the r

franken. >> i feel like i'm back in law school. >> i got it. >> i didn't go to law school. >> thank you, professor. >> attorney general kroger, mr. carbon said and then repeated essentially this in his testimony, a decision not to buy health insurance doesn't affect commerce. is that inago -- is that an accurate quote? >> in the preexisting band, true. in other words, if you took the preexisting condition ban out of the law, the insurance company would be able to contract with its patients in the fact that some stranger to that transaction sat at home wouldn't affect that contractual relationship. the argument i'm making is that the preexisting ban enables congress to reach out and bring that stranger of the transaction in. >> without the mandate you couldn't have the preexisting condition, it wouldn't work in the law. but this is a question for attorney general kroger. a decision not to buy health insurance doesn't affect commerce. mr. kroger, when the uninsured in your state go to emergency rooms and can't pay their bills, how much does that cost oregon hospitals every year? >> you know, senator, i've spoken to the c.e.o.'s of

franken. >> i feel like i'm back in law school. >> i got it. >> i didn't go to law school. >> thank you, professor. >> attorney general kroger, mr. carbon said and then repeated essentially this in his testimony, a decision not to buy health insurance doesn't affect commerce. is that inago -- is that an accurate quote? >> in the preexisting band, true. in other words, if you took the preexisting condition ban out of the law, the insurance company would be able to contract with its patients in the fact that some stranger to that transaction sat at home wouldn't affect that contractual relationship. the argument i'm making is that the preexisting ban enables congress to reach out and bring that stranger of the transaction in. >> without the mandate you couldn't have the preexisting condition, it wouldn't work in the law. but this is a question for attorney general kroger. a decision not to buy health insurance doesn't affect commerce. mr. kroger, when the uninsured in your state go to emergency rooms and can't pay their bills, how much does that cost oregon hospitals every year? >> you know, senator, i've spoken to the c.e.o.'s of

franken. >> i feel like i'm back in law school. >> i got it. >> i didn't go to law school. >> thank you, professor. >> attorney general kroger, mr. carbon said and then repeated essentially this in his testimony, a decision not to buy health insurance doesn't affect commerce. is that inago -- is that an accurate quote? >> in the preexisting band, true. in other words, if you took the preexisting conditi ban out of the law, the insurance company would be able to contract with its patients in the fact that some stranger to that transaction sat at home wouldn't affect that contractual relationship. the argument i'm making is that the preexisting ban enables congress to reach out and bring that stranger of the transaction in. >> without the mandate you couldn't have the preexisting condition, it wouldn't work in the law. but this is a question for attorney general kroger. a decision not to buy health insurance doesn't affect commerce. mr. kroger, when the uninsured in your state go to emergency rooms and can't pay their bills, how much does that cost oregon hospitals every year? >> you know, senator, i've spoken to the c.e.o.'s of va

franken. >> i feel like i'm back in law school. >> i gott. >> i didn't go to law school. >> thank you, professor. >> attorney general kroger, mr. carbon said and then repeated essentially this in his testimony, a decision not to buy health insurance doesn't affect commerce. is that inago -- is that an accurate quote? >> in the preexisting band, true. in other words, if you took the preexisting condition ban out of the law, the insurance company would be able to contract with its patients in the fact that some stranger to that transaction sat at home wouldn't affect that contractual relationship. the argument i'm making is that the preexisting ban enables congress to reach out and bring that stranger of the transaction in. >> without the mandate you couldn't have the preexisting condition, it wouldn't work in the law. but this is a question for attorney general kroger. a decision not to buy health insurance doesn't affect commerce. mr. kroger, when the uninsured in your state go to emergency rooms and can't pay their bills, how much does that cost oregon hospitals every year? >> you know, senator, i've spoken to the c.e.o.'s of

mr. franken: mr. president? the presiding officer: the senator from minnesota. mr. franken: mr. president, i ask that the quorum call be vitiated. the presiding officer: is there objection? without objection, so ordered. mr. franken: and thank you, mr. president. i ask unanimous consent that floor privileges be extended to my legislative fellow, hannah catch, for the duration of consideration of the f.a.a. bill, s. 223. the presiding officer: without objection. mr. franken: thank you. mr. president, i ask unanimous consent to speak as if in morning business. the presiding officer: without objection. mr. franken: mr. president, i rise today to talk about health reform and i'd like to start by telling you the story of a little boy named isaac. from the day his parents brought him home as a newborn to isanti, michigan -- isanti, minnesota, he was sick all the time. he had everything from the flu to bronchitis to ear infections. but unlike most little boys, isaac never seemed to get better. his parents, a