mr. garrett, we're delighted that mr. garrett is here. evidently he's going to be recognized to speak on the amendment that may be from the gentleman from oklahoma, from langford. mr. garrett we're delighted not only that you join us but anything you have in writing will be entered into the record. and if the gentleman will make sure that microphone is on, and i know you're trying to clean up, and the gentleman is recognized. >> so, i thank the chairman. i'll be brief. as i was sitting back there coming in late listen to some of the comments, as far as the problems that we see going forward and the underlying legislation, i don't know why the thought comes to mind the statement i think it was from dickinson from pennsylvania who said, mr. bishop knows the line, we are about to brave the storm in a skiff made of paper. in this case the storm is frying to fund transportation needs and the skiff as mr. hastings points out is a skiff made of debt, paper being paid for over a longer period of time than we're actually going to use the dollars.

mr. garrett, we're delighted that mr. garrett is here. evidently he's going to be recognized to speak on the amendment that may be from the gentleman from oklahoma, from langford. mr. garrett we're delighted not only that you join us but anything you have in writing will be entered into the record. and if the gentleman will make sure that microphone is on, and i know you're trying to clean up, and the gentleman is recognized. >> so, i thank the chairman. i'll be brief. as i was sitting back there coming in late listen to some of the comments, as far as the problems that we see going forward and the underlying legislation, i don't know why the thought comes to mind the statement i think it was from dickinson from pennsylvania who said, mr. bishop knows the line, we are about to brave the storm in a skiff made of paper. in this case the storm is frying to fund transportation needs and the skiff as mr. hastings points out is a skiff made of debt, paper being paid for over a longer period of time than we're actually going to use the dollars.

mrs. garrett. >> mrs. garrett is the best. >> hi, ry.the star of "girls" needs an opening act to her book tour and posted this casting call on twitter saying she wants people with, key, singular talents including but not limited to singing, comedy and musical spoon, of course, because that's a singular talent. now, if you've got what it takes she's accepting video submissions until august 1st. guys, what can we do? >> singular? >> we were rehearsing a little something on the break. >> we can sing one song so that would be singular. >> yeah. ♪ i can bring home the bacon fry it up in a pan ♪ ♪ and never ever let you forget you're a man ♪ >> because you're a -- ♪ woman >> i can do this. >> we're waiting for the music. >> you come and do "pop news" and get them to do that? wow. >> incredible, right? it's the power of "pop news." >> do you want to show your singular -- >> wait. ginger has a singular talent. >> i will be dancing to your rendition. >> nice. >> she does this really wonderful freeform martha graham thing. >> i love it. bringing p

mr. garrett of new jersey. at the end of the bill, before she short title insert the fol logue, section, none of the funds made available by this act may be used to, one, designate any nonbank financial company -- the speaker pro tempore: is there objection to dispensing with the reading of the amendment? seeing none so ordered. pursuant to house resolution 661, the gentleman from new jersey and a member opposed each will control five mins. the chair recognizes the gentleman from new jersey. mr. garrett: i thank the chairism rise today in an attempt to prevent government regulators from expanding the corrupt doctrine of too big to fail into even greater parts of our economy. under dodd-frank, fsoc, the inancial stability oversight council, can designate companies sipys. people say this doesn't mean they're too big to fail but it's the government's stamp to say, we care about this company. every time the government uses this designation it opens up all of taos millions of potential losses. first they designate t

mr. garrett. the speaker pro tempore: the gentleman is recognized for two minutes. mr. garrett: i rise today to discuss the future of our transportation system in this country. back at home in new jersey, they are only asking the same thing across america, that have a safe and efficient transportation system of roads and bridges. the highway trust fund is bankrupt. past highway bills have been filled with excessive federal regulation and pork-laden projects meaning that the maintenance of roads an bridges has not been getting done. we're here today because we don't have the money now to fix them. going forward we have two clear choices. either we can continue down the same path, the current path, passing a bill to bail out the trust fund to the tune of some $50 billion, or we can find a better way. personally, i am tired of every year going and speaking to the secretary of transportation, doesn't matter the party, i ask him, can you tell me exactly what our needs are on route 17 of bergen county or route 519 in sussex county and again and again athey, where is route 17?

mr. garrett pointed out. you said that mr.s the federal reserve representative to the financial stability board. you are his boss. you are the chairman of the federal reserve. thate to really believe the gentleman asked on his own without any direction or oversight from you? >> i think the congressman garris that should -- congress men garrett referred to decisions about globally systemic important banks and that occurred before i was chair. i'm sure that he consulted with chairman bernanke he. >> ok. so he is not independent. >> no. the chairman obviously has responsibility. >> just go back to the independence part of the federal reserve from the executive branch, i'm sure that you are of the 15 chairman in the fed's history, that 10 of them have either served at treasury or the white house. it seems to be a revolving door type policy. between the federal reserve and the treasury department. it continues today. the fed staff is going back and forth into the treasury department, including members of the current administration.

mr. garrett -- one of your answers. you said that mr. tarullo is the federal reserve representative to the financial stability board. you're his boss, and you are the chairman of the federal reserve. and are we to really believe that the gentleman acts on his own without any direction or oversight from you? >> well, i think he -- congressman garrett referred to decisions that were made about naming global systemically important banks, and that occurred before i was chair. i'm sure that he consulted with chairman bernanke. >> okay, so he's not independent? >> well, no. the chairman obviously has responsibilities. >> just to go back to the independence part of the federal reserve from the executive branch, i'm sure that you're aware of the 15 chairmen in the fed's history that 10 of them have either served at treasury or at the white house. and it seems to be a revolving door type policy between the federal reserve and the treasury department in that it actually continues today. and the fed's staff has gone back and forth into the treasury

mr. garrett, for five minutes. mr. speaker, i rise today to honor the life and service of waldwick new jersey police officer christopher goodell. officer goodell was killed in the line of duty when a truck hit his police cruiser. he was just 32 years old. although officer goodell's life was tragically cut short, he lived a life of purpose serving both his community and his country as well. officer goodell was raised up in waldwick, graduated from high school in 2000. shortly after september 11, he enlisted in the u.s. marines. he served in the military for five years, even including a tour of duty over in iraq. then after his military service, officer goodell returned back, back to his , new wn of waldwick jersey and took a special interest, if you will, in discouraging teens from drinking and driving. he spoke about the dangers of drunk driving back at the waldwick high school and ran an annual d.w.i. prevention course and was on june 11 of this year that officer goodell was recognized in the state by the state chapte

mrs. fields, or garrett's in chicago, so it can generate $10 million a year.'m on my way to meet the owner of planet popcorn, and i'm gonna determine if this is a good deal for me or not. good morning, i'm marcus. >> nice to meet you. >> you're sharla? >> yes. >> great meeting you. this is a nice setup. >> thank you. >> i'd like to taste some of the popcorn. is that possible? >> sure. >> what would you like me to taste? >> well, my caramel corn's really good, so we'll give you a caramel corn. >> oh, my god, this is amazing. >> thank you. and you know what? the popcorn is big. >> this is mushroom popcorn, which is made to coat. it's a better coating popcorn. >> tell me about that money. you just leave it in there like that? >> it's petty cash for when they run out of quarters or ones. >> do you have a safe? >> in here? no. >> scary, isn't it? >> yeah. >> while i like the popcorn at planet popcorn, one thing i don't like is the lack of controls around inventory and cash. i see cash all over the place, but i don't see the kind of discipline i expect in a good bus

mr. garrett. i want to go to the issue of asset managers. now, they have, as you know, the dodd-frank act recognizes each financial institution and company. and differently. and it should be reviewed in its unique characteristics in mind. the fact is outlined as we know in dodd-frank includes the amount of leverage that the institution has. the off-sheet balance sheet exposure of the company and the degree to which the company is already regulated by the primary regulator. now, that seems to suggest that these asset managers are not folks that we intended to go after on the risk side. and i'm just wondering, do you believe that designation as a siffy is an appropriate way to address that industry? >> no, i agree with that, specifically, if there has been an argument on the republican side that being designated as siffy gives you the advantage, yet every institution over which there is discretion has vigorously resisted. and the fact that being a siffy clearly means more regulation and the notion it is a benefit is belied by their response. t

mr. buford make a sound as though he was attempting to breathe. >> breathe, buddy! come on! >> garrettlls out for a life buoy he can use to brace buford as he brings him to shore. >> i need a brig! >> but authorities don't seem to understand. >> i gave him a second look and i noticed that now his lips were getting blue and i knew at that point it's -- you have to make a decision. >> this is a very difficult decision for couples to make. to prevent the spread of aids and other diseases, modern rescue crews carry plastic equipment so they can give emergency breathing without direct mouth-to-mouth contact, part of what's called universal precautions. >> i knew that it was probably going to be a couple minutes before i could get him to shore. i didn't think that he had a chance unless i -- >> he's trying to give him mouth to mouth. >> that boy is good. >> now finally, help is on the way. but it's not a policeman or fireman. like garrett, it's just another person who was out in the park that day. >> when he went under water, the clock's ticking instantly. and that's why i went in the water.

mack barnes, garrett's quarterback for the 1969 season, became a coaching star in his own right. he went on to coach meridian high championship teams as well. mr. speaker, though of meet oaker athletic -- mediocre athletic ability, i gained tremendously from my experience as a meridian high wildcat under both bob tyler and charles garrett and also their very able assistant coaches. any achievements i have made in my life and career must be credited to a large extent to what i learned on the practice field. concepts such as personal discipline, commitment to excellence, personal sacrifice for a unified team goal, preparation for success and the meaning of teamwork. it is said, it is a commitment to a bigger goal and opportunity for a young man to learn more than blocking and tackling. don may offered this, my life lessons learned from my m.h.s. football days proved positive, hard work and dedication can enable an individual to accomplish any goal and achieve success throughout a lifetime. applying those lessons to my career and personal relationships has helped me achieve things i would not have thought possible. i now look forward, mr. speaker