mr. towns votes no. miss maloney -- i'm sorry mr. towns votes aye. mrs. maloney votes no. miss norton? >> it's really a good amendment but the -- we can't get a vote. >> i did. no. >> mr. towns votes no. >> miss norton? >> no. >> you're not. mr. kucinich. mr. kucinich votes no. mr. clay votes no. mr. lynch votes no. mr. cooper votes no. mr. connelly votes no. mr. quigley votes no. mr. davis votes no. mr. braillely votes no. mr. yarmouth -- mr. -- mr. welsh e i'm sorry i keep skipping you mr. welsh votes no. mr. yarmouth votes no. mr. murphy votes no. miss speer votes no. >> the clerk will report. >> on that vote there are 23 ayes, 17 nos. >> the amendment is agreed to. a quorum being present the question is unfavorably report the contempt report of the house as amended all those in favor signify saying aye those opposed no. the clerk will call the roll. >> mr. issa. >> aye. >> mr. issa votes aye. mr. burton votes aye. mr. my ka votes aye. mr. plats votes aye. mr. turner votes aye. mr. mchenry votes aye. mr. jordan votes aye. mr. chaffetz votes aye. mr. mack votes aye. mr. wahlberg votes

mr. maloney? >> thank you. i would like to welcome mr. dimon who resides in the district i am privileged to represent, and i would like to note that he has been a major employer in a number of different financial institutions before joining j.p. morgan chase. i would like to ask you, mr. dimon, i thought you loved new york, so why are all these jobs and all this activity taking place in london? and i specifically would like to know where were the losses incurred in the london unit? they didn't take place in the northern unit and could they have incurred in new york just as easily? we learned in the prior regulatory panel that a substantial portion of the bank's chief investment offices, activities including its credit derivatives are conducted and that other financial institutions and i certainly understand that we're in a global market and we have to be in global markets and around the world, but what is it about the regulatory regime and the united kingdom that encourages such a large portion of these activities to take place in london

mr. maloney for one minute. >> thank you. welcome to the regulators. since the financial crisis, we have worked to improve regulation of the financial industry. the basic questions today are, are we on the right track to prevent another 2008 from happening. do regulators now have the tools to prevent another crisis. and are ceos managing their institutions with the lessons they learned from 2008. why were the losses incurred in the london unit. could they have been incurred in new york as easily. by every indication, jpmorgan chase is a well-managed firm. so if this trading loss could happen there, it could happen at another large financial institution. mr. dimon testified last week that there were parts of dodd-frank he supported and parts that needed to be clarified, not overturned. i think the industry, regulators and policy makers can agree that the voelker rule, including the market making provision, needs to be as clear and straightforward as possible, and i believe it should be put in place as soon as possible. thank you. >> thank you. mr. hensa

mrs. maloney two minutes. the speaker pro tempore: the gentlelady is recognized for two minutes. mrs. maloney: mr. speaker, the family of brian terry deserves our respect, our condolences and our best eorts to finish the mission, to put an end to gun violence on the southern border. but itead of going after gun violence, this investigation has gone after the man that tried to stop the gun violence, the attorney geral. chairman issa has acknowledged that attorney general holder did not know about the gunwalking operation. he has acknowledged that the president and the white house did not know about the gunwalking operation. both the white house and the attorney general have acknowledge that the gunwalking operation was a tragic mistake, that it was badly executed and that it originated under the brucks -- under the bush administration. it was attorney general holder that terminated the program and requested an extensive investigation of the operation and how it was conducted. and the documents thathey are now requesting in this vast and -- in this fast and furious investigation have abs

mrs. maloney. mrs. maloney: i pledge allegiance to the flag of the united states of america and to the republic for which it stands, one nation, under god, indivisible, with liberty and justice for all. the speaker: the chair will entertain -- without objection this egentleman from pennsylvania, mr. pitts is recognized for one minute. mr. pitts: thank you, mr. speaker. it is an honor today to have greg lafferty, senior pastor of my home church, will lowdale chapel, open us in prayer today he studied at wheaton college and golden gate baptist theological seminary. he was ordained at saddleback church in california where he served as a teaching pastor under rick warren. under greg, the church has grown dramatically. in his time as our pastor, he's made our church more active in our community and engaged around the world. one example is the work with hope international, touching lives in the congo through microenterprise development. the efforts of the church have been multiplied and improved in many ways u

mrs. maloney two minutes. the speaker pro tempore: the gentlelady is recognized for two minutes. mrs. maloney: mr. speaker, the family of brian terry deserves our respect, our condolences and our best efforts to finish the mission, to put an end to gun violence on the southern border. but instead of going after gun violence, this investigation has gone after the man that tried to stop the gun violence, the attorney general. chairman issa has acknowledged that attorney general holder did not know about the gunwalking operation. he has acknowledged that the president and the white house did not know about the gunwalking operation. both the white house and the attorney general have acknowledge that the gunwalking operation was a tragic mistake, that it was badly executed and that it originated under the brucks -- under the bush administration. it was attorney general holder that terminated the program and requested an extensive investigation of the operation and how it was conducted. and the documents that they are now requesting in this vast and -- in this fast and furious investigation

mr. chairman. >> thank you. . representative maloney. >> thank you, mr. chairman, and welcome, mr. bernanke. and i would like to respectfully speak in opposition to the point of view that has been put forward by my colleagues on the other side of the aisle, in strong opposition to any qe3. i believe that the fed should use any tool in your arsenal, whatever it is, to provide support to our fragile economy. and we need to ensure against any downward turns that would hurt housing, employment, and all the other areas in our economy. i think it's particularly important coming up on your june 17th meeting that you act forcefully to help our economy given the fact that china has cut its benchmark lending rate and already in response to that the price of gold has gone up, the dollar has fallen. i'd like to hear your comments on china. will china be buying our treasury notes now with this economic downturn and what appears to be in their economy, and combined with the news from the past month that the eurozone debt and banking crisis seems to have deteriorated further in europe? so could you comment

mr. maloney? >> thank you. i would like to welcome mr. dimon who resides in the district i am privileged to represent, and i would like to note that he has been a major employer in a number of different financial institutions before joining j.p. morgan chase. i would like to ask you, mr. dimon, i thought you loved new york, so why are all these jobs and all this activity taking place in london? and i specifically would like to know where were the losses incurred in the london unit? they didn't take place in the northern unit and could they have incurred in new york just as easily? we learned in the prior regulatory panel that a substantial portion of the bank's chief investment offices, activities including its credit derivatives are conducted and that other financial institutions and i certainly understand that we're in a global market and we have to be in global markets and around the world, but what is it about the regulatory regime and the united kingdom that encourages such a large portion of these activities to take place in london

mr. maloney? >> thank you. i would like to welcome mr. dimon who resides in the district i am privileged to represent, and i would like to note that he has been a major employer in a number of different financial institutions before joining j.p. morgan chase. i would like to ask you, mr. dimon, i thought you loved new york, so why are all these jobs and all this activity taking place in london? and i specifically would like to know where were the losses incurred in the london unit? they didn't take place in the northern unit and could they have incurred in new york just as easily? we learned in the prior regulatory panel that a substantial portion of the bank's chief investment offices, activities including its credit derivatives are conducted and that other financial institutions and i certainly understand that we're in a global market and we have to be in global markets and around the world, but what is it about the regulatory regime and the united kingdom that encourages such a large portion of these activities to take place in london

mr. chairman. >> representative maloney. >> thank you mr. chairman and welcome, mr. bernanke. i would like to respectfully speak in opposition to the point of view that has been put forward by my colleagues on the other side of the all in strong opposition. i believe that the fed should use any tool in your arsenal whenever it is to provide support to our fragile economy and we need to ensure against any downward term but would hurt housing, employment and all the very areas in our economy. i think it's particularly important coming up on the june 17th meeting that you act to help our economy given the fact that china cuttage been smart lending rate and already in response to that, the price of gold has gone up. the dollar has fallen. i would like to hear your comments. will china be buying the treasury notes with this economic downturn what appears to be in their economy and combined with the news from the past month that the year rose owned debt and banking crisis seems to have deteriorated further in europe? so could you comment further? you have in many ways but even on ch

mr. maloney? >> thank you. i would like to welcome mr. dimon who resides in the district i am privileged to represent, and i would like to note that he has been a major employer in a number of different financial institutions before joining j.p. morgan chase. i would like to ask you, mr. dimon, i thought youo new york, so why are all these jobs and all this activity taking place in london? and i specifically would like to know where were the losses incurred in the london unit? they didn't take place in the northern unit and could they have incurred in new york just as easily? we learned in the prior regulatory panel that a substantial portion of the bank's chief investment offices, activities including its credit derivatives are conducted and that other financial institutions and i certainly understand that we're in a global market and we have to be in global markets and around the world, but what is it about the regulatory regime and the united kingdom that encourages such a large portion of these activities to take place in london as op

maloney: mr. speaker, the family of brian terry deserves our respect, our condolence and our best efforts to finish the mission, to put an end to gun violence on the southern border. but instead of going after gun violence, this investigation has gone after the man that tried to stop the gun violence, the attorney general. chairman issa has acknowledged that attorney general holder did not know about the gunwalking operation. he has acknowledged that the president and the white house did not know about the gunwalking operation. both the white house and the attorney general have acknowledge that the gunwalking operation was a tragic mistake, that it was badly executed and that it originated under the brucks -- under the bush administration. it was attorney general holder that terminated the program and requested an extensive investigation of the operation and how it was conducted. and the documents that they are now requesting in this vast and -- in this fast and furious investigation have absolute

mrs. maloney: madam speaker, this is a time when we could be talking about how to create jobs and lower the deficit. that's surely what the american people really care about. instead, the greatest deliberative body in the world is quarreling about bringing a contempt charge to the floor of congress against the attorney general. it has never happened before and let's be clear, it's not about finding the truth. or creating reforms. or finding out how gun walking started. we know how that started. it started under the bush administration. what this is about is just the republican leadership pursuing single mindedly a political vendetta, a political obsession, like ahas been going after the great -- like ahab going after the great white whale, they are hoping to spill political blood. this is the type of gamesmanship and partisanship that understandably makes the american people lose faith in their congress and in their leaders. so tomorrow, if it comes to the floor, vote no and let's get back to work on the real problems. the speaker pro tempore: the gentlelady's time has expired. for what pur

mr. chairman, vice chairman, congress woman maloney and members of the sub committee. when i asked how to be a good witness for you, my good friend, former chairman of the energy and commerce committee told me i needed to do two things, be brief and then be gone. before i'm gone. i'll tell you what the most problem is, the decisive solution, thank you for the opportunity, on behalf of the potential and victims of the -- i was recruited in december of 2009 to be the advocate of the cyber crime, by hiring the most prominent analyst in the space. i'm here today because your money is not safe in the bank. not if you are an american church, school district, small business, or political campaign fund. not if you bank online, using microsoft windows, many of you, on this committee have heard from victims in your district. the shocking thing to victims is that their organizations being vulnerable is an official financial services industry policy known as shared responsibility, your personal accounts are safe and protected by federal reserve-e. but the consensus of the cyber la

mr. maloney for one minute. >> thank you and welcome to the regulators. since the financial crisis we have work to improve regulation of the financial industry. the basic questions today are, are we on the right track to prevent another 2008 from happening? to regulators now have the tools to present another crisis and our ceos from the lessons they learn from 2008. why the losses incurred in london unit? could they have been incurred as easily? by every indication, jpmorgan chase is a well-managed firm. so if this loss could have been there, it could happen at another another large financial institution. mr. diamond testified last week that there were parts of dodd-frank he supported and parts that needed to be clarified, not overturned. ii think the industry, regulatos and policymakers can agree that the vocal role, including the market-making position needs to be as clear and straightforward as possible and they believe it should be put in place as soon as possible. thank you. >> thank you good mr. had thrilling, vice-chairman of the committee for two

mr. chairman. >> thank you, representative maloney. >> thank you, mr. chairman. welcome, mr.d i would like to respectfully speak in opposition to the point of view that has been put forward by my colleagues on the other side of the aisle in strong opposition to any qe 3. i believe that the feds should use any tool in the arsenal whatever it is to provide support to our fragile economy and we need to ensure against any downward turns that would hurt housing, employment, and all of the other areas in our economy. i think it is particularly important coming up on your june 17th meeting that you act forcefully to help our economy given the fact that the china has cut its benchmark lending rate and already in response to that the price of gold has gone up, the dollar has fallen. i would like to hear your comments on china. will china be buying our treasury notes now with this economic downturn and what appears to be their economy and combined with the news from the past month that the eurozone debt and banking crisis seems to have deteriorated further in europe, so could you comme

mr. chairman, vice chairman, congresswoman maloney, members of the subcommittee. when i asked how to be a good witness for you, my good friend, former chairman of the energy and commerce committee, told me that i needed to do two things colin code be brief and then be gone. but before i am gone i should tell you what the problem is an offer to at least one decisive solution. thank you for the opportunity to testify before you today on behalf of the victims and potential victims of corporate account takeovers. my name is jim woodhill. i'm a serial entrepreneur in the information security space. i was recruited in december, 2009 to be the advocate for the victims of this new fast-growing cybercrime by garnering the most prominent analyst in this case. i am here today because your money is not safe in the bank. not if you're an american church kosko district, small business or political campaign fund. not if you were using microsoft windows. many of you on this committee have heard from victims in your districts. the shocking thing to victims' is that the organizatio

mr. chairman. thank you. >> thank you. representative malone any. -- maloney. >> thank you, mr. chairman, and welcome mr. bernanke. i would like to speak in opposition to the point of view put forward by the colleagues on the other side of the aisle in strong opposition any qe3. the believe the fed should use any tool in your arsenal, whatever it is to provide support to our fragile economy, and we need to ensure against any downward turns that would hurt housing, employment, and all the other areas in our economy. i think it's particularly important coming up on your june 17th meeting, that you act forcefully to help our economy, given the fact that the -- china has cut it benchmark lending rate, and already in response to that, the price of gold has gone up, the dollar has fallen. i'd like to hear your comments on china? will china be buying our treasury notes and combined with the news that the eurozone debt and banking crisis seems to have deteriorated further in europe? should could you comment further on china specifically and the impact china will have on the overall -- really our economy? they ha

mr. chairman, i am offended personally by your calling the attorney general a liar, and you've called me a liar. >> that was caroline maloney, a top democrat on the committee. she will join me live. >>> plus, was mitt romney pressured by conservatives to make it clear that tea party favorite marco rubio is being vetted as a possible vp pick? we'll play what romney has said in a new interview. >>> it came 19 years late but today, aung san suu kyi finally received her degree from oxford university. she donned cap and gown to receive her civil law doctorate to wide applause. she was under house arrest for more than 15 years by myanmar's military government and is making her first round of visits outside her native country. since that detention was lifted. joining me now is peter popham, who has written an autobiography entitled "the lady and the peacock." this must be such an emotional moment, having her at oxford. this is really a moment to finally signify the end of this ordeal. >> yes, that's right. i think the last two days have been the most emotional so far, because she lived in oxford for more than 15 years all together

maloney of new york. >> without objection, it is considered as read, the gentle lady is recognized to explain her amendment as it's being distributed. >> thank you, mr. chairman, and i first would like to be absolutely clear that there is no question that the death of border patrol agent brian terry was a terrible, terrible tragedy. and there's no question that there were problems with fast and furious and that it was ill conceived and poorly executeded, as were the three prior programs. but my amendment addresses the fast and furious report that you have and it would add language to the report explaining that proceeding to contempt charges at this time is unwarranted because the committee's investigation and the narrative of the contempt citation as serious an glaring flaws. and one of the most significant and partisan decisions of the investigation, the chairman has refused requests, including requests today to hold a public hearing with mr. kenneth melson, the former head of the bureau of alcohol, tobacco, firearms and exploeives. the agency responsible for conducting these operations, it seems logical and common sense that we would want to hear

mr. james h. freis. director of financial cres foen network athe pantfrey. sten,llel y t yndd morning. chairwoman cap toe, ranking member maloney and -- >> could i ask you to pull the hope? for some reason that microphone -- yes. thank you. >> i'm jim fss ai' eato hois efforts to establish a meaningful regulatory framework for mobile payments and other emerging payments methods. my testimony today will focus on me of the most important bedo t enimdalalo e heinal system aztec logical advances create innovative ways to move money. at theutset, i would like to make a distinction between mobile banking and mobile paymts. while mobile banking volv mmatanrenm ccolouir coat depository institution, mobile payments essentially involve the directions of funds outside of a bank account to effect payments or other transfers. let me emphasize that both types rent fen-phen regulations either as part of the requirements on banks or as part of the requirements on money transmitters. recognizing that payment syste olve rly fphto reivpr i t ea yr ago specifically to cover mobile payments and other innovations. the rule was developed to be techno

standard -- >> and i saw representative maloney on tv talking about, but was everyone else as offended of the tone of this hearing? >> absolutely. >> i am offended personally mright be forgiven for describing the proceedings today as eakin to kangaroo court. >> uh-huh. >> sue go ahead. >> daryle isa lied about his military record. he had a bad-conduct rating. he was demoted. he has stolen a fellow officer's car. you know that. he said he was on the army security team and he got to see the 1971 world series was he was protecting nixon, except nixon didn't go to the 1971 world series games. he was discharged after five years and three months. why isn't this -- i live here in rockwell, and i'm someone's grandmother and i have this information. >> yeah, exactly. >> you are just a me-ma. >> yes i me-ma with barbie babies. >> that's right. >> as a former prosecutor i assure you there is nothing kangaroo about the death of a border agent, and this is a very sad day. >> this whole witch hunt shows that the republicans will always use a tragedy as a club with which to beat president obama to death. >> yeah. >> if anybody is glad that a border age sent killed -- >> exa

maloney moments ago. >> what we should be doing is looking at ways we can stop problems from happening again. so my basic question, mrreform? our committee is supposed to be working on government reform, and any legitimate investigation must be rooted in finding solutions to problems once they are identified, not just character assassination. bill: there is carolyn maloney, republicans might argue that this is what the hearing is all about to make sure it doesn't happen again. bret baier is with me now, host of special report. chuck grassley came out with a strong statement and asked three pointed questions to the white house. here is one of them. how can the president assert executive privilege if there is no white house involvement? where does this go? how does it unwind? >> i think bill those are great questions, and to congresswoman maloney's point about reform, you know this has been 18 months back and forth about trying to get these documents, and they know -- congressman issa knows specifically what documents they are looking for in fast and furious. it's after february, it was this back and forth about a lett