mr. goodlatte: madam chairman, i'll yield 1 1/2 minutes to the gentleman from california, mr. lungren, a member of the committee. the chair: the gentleman has 1 1/2 minutes remaining. the gentleman from california is recognized for 1 1/2 minutes. mr. lungren: thank you very much, madam chair. this is a prime example of good intentions resulting in bad policy. my area is one of the areas hit as badly as any with respect to foreclosures. we have not cleared the market yet. we are in deep, deep shape. and the last thing we need is to increase the level of uncertainty within the mortgage market, and that's what this does. it may be limited by its terms, but if we do it now we can do it again. some people may ask, why would we not allow cramdown for residential housing? the supreme court justice stevens, looking at this with a case in previous years, said the favorable treatment of residential mortgages was intended to encourage the flow of capital into the home lending market. that is why this exists in the bankruptcy code today. precisely because it allows more people access to p

mr. goodlatte: madam chairman, i'll yield 1 1/2 minutes to the gentleman from california, mr. lungren, a member of the committee. the chair: the gentleman has 1 1/2 minutes remaining. the gentleman from california is recognized for 1 1/2 minutes. mr. lungren: thank you very much, madam chair. this is a prime example of good intentions resulting in bad policy. my area is one of the areas hit as badly as any with respect to foreclosures. we have not cleared the market yet. we are in deep, deep shape. and the last thing we need is to increase the level of uncertainty within the mortgage market, and that's what this does. it may be limited by its terms, but if we do it now we can do it again. some people may ask, why would we not allow cramdown for residential housing? the supreme court justice stevens, looking at this with a case in previous years, said the favorable treatment of residential mortgages was intended to encourage the flow of capital into the home lending market. that is why this exists in the bankruptcy code today. precisely because it allows more people access to p

i'm pleased to recognize bob goodlatte, a senior member of this committee from virginia. >> well, mr.chairman, thank you very much. and thank you for holding this hearing. this is the first hearing that's been held on the dcma. i think in quite some time. i can remember very well going back, i think, more than 10 years ago when we wrote that legislation. i was asked by then-chairman hyde to sit in a room with representatives of the content industry, the internet service provider industry, the universities and other users of internet content and try to manage a negotiation of notice and takedown issue. and we came up with something we thought was very good at the time. in fact, it was well received by folks on every side of this issue. but it requires that isps expeditiously remove materials. and i suppose the meaning of the word "expeditiously" has got to change or the dcma has got to change. and i don't know how many people here agree with professor yoo that we may have to re-open the dcma to enact some of the suggestions that he's made, which are certainly worthy suggestions. but i'