mr. miller: i yield two minutes to mr. holt.the speaker pro tempore: the gentleman is recognized for two minutes. mr. holt: i thank the gentleman. today the majority is showing the american public again that the majority doesn't think we have a jobs crisis in america. getting americans pack to work isot their top priority. getting the american economy back on track and creating jobs is my first, second, and third priority. and until the majority gets to work, we're not going to move this country forward. democrats remain committed to creating jobs immediately and expanding educational opportunity for all americans. and rather than bringing to the floor legislation to help create jobs, we're wasting time with this attemptto undermine workest' right the right to organize, to have safe working conditions, fair wages, you know, on monday night, i had a town hall and not one person, not one, wanted to talk with me about the nlrb or its rule making. many wanted to talk about job creation. wanted to make sure we were investing in our c

mr. miller's recognized. >> thank you, mr. chairman. mr.emarco, we discussed on many occasions fannie and freddies or fhfa's policy of not reducing principle in mortgages, and we guided you to two studies, one by the fed and another byamhues securities, and foreclosures resulted in a 50% loss of principle, that reductions in principles of 10%-40% to get an underwater homeowner back to even, usually resulted in better performing and better performing loans, and i provided you those studies. they concluded that it makes good economic sense for the creditor to reduce principle, to get an underwater homeowner back above water, and you have said that your profit analysis reached a different con-- conclusion. why have you not made that analysis public? >> i think i'll be making more public on this point, mr. miller, in response to continued inquiries from you and others, but if i could address these two studies that you raised, the first, the amhurst study, when i first read it, i started to get a concern, well, wait a minute, maybe there's somet

mr. miller, is recognized. mr. miller: i yield two minutes to the gentlewoman from new york, ms. slaughter a. member of the rules committee. the chair: the gentlewoman from new york is recognized for two minutes. ms. slaughter: thank you, sir. i appreciate the gentleman yielding. mr. speaker, with millions of americans out of work, job creation certainly should be the number one priority of this congress. and yet where are we today? not creating any jobs here. but when using the precious floor time considering the bill that attacks the rights of all american workers and has no chance of becoming law. that unfortunately is something we do week after week here. as my colleagues have pointed out, rather than minimizing delay in union voting procedure, today's bill mandates delay. the bill empowers employers to interfere in union elections by adding anti-union employees to voting blocks, gerrymandering the elections. that by itself should be enough to vote against this bill. letting employer delay and manipulate union elections is an attempt to put the fox in charge of the hen house.

mr. miller, to you? >> absolutely not. >> because it is in your best interest for the well being, for the profitability of your company. in fact, i would assume many of the trucks that are on the road, you probably have the site i've seen come if you don't like my driver, call this number. you have some of those signs on your truck? >> absolutely. >> mr. keysaw? mr. miller? >> no, but we are in the process. >> i assume the reasons mr. mackie that you have those because you probably get some benefit from insurance wise, insurance payments. you just want the public to know if your companies name is on the trade of the truck, you have safe drivers. there's market forces involved in safe records as well, right? >> there's clearly an economic benefit but clearly these drivers, particularly in our industry, 20, 25 year employees so there's a family connection as well. we don't want these people to get hurt. >> and mr. nagle understands the concerns because when you drivers who were not followed the rules he go

mr. sheldon miller here? [reading names] chairman nolan: mr. gillespie? >> jim gillespie with yellow cab. one thing i want to mention, this but -- this pilot program has been very successful. it would be initiating something like 1400 people who wanted to purchase and a much smaller number that wanted to sell. it would seem to me that they would want to expand that reservoir and not diminish as -- it. i am a post-k medallion holder. i had my name on the list for 18 years before i got my medallion. i certainly feel that we should continue the pilot program. all of the medallion holders who are disabled or over a certain age. but not differentiate between pre and post k. it does not make any sense to me. secretary boomer: is mr. jenson here? [reading names] you are first, and then richard fogel. is mr. fogel here? >> good afternoon, everybody. my name is emil. i have been driving and serve in the community for years and years and years. and i am part -- glad to be a part of yellow cab. we have been having a great time with yellow cab. yellow cab is my home.

mr. miller is recognized. >> thank you. i want to make another try to the questions i asked earlier.from the first panel without satisfactory result, maybe because of my questioning, maybe because of their answering. as i understand it, mf global involved more than $7 billion of european sovereign debt, which was 100% financed, the sovereign debt itself was the collateral. which is pretty stunning. mr. capuano earlier asked how they got 40 to one leverage. maybe that was how. but at some point the lenders figured out that was maybe not such a good idea, either because of the debt over the sovereign debt that was pledged as collateral or because of mf global, and issued a margin call. and then there began a mad scramble to come up with the money. they sold assets. and then i think mr. baxter said that what happened was a classic run, like what used to happen in the depository institutions, the movie "it's a wonderful life." other lenders decided that they maybe need a little more security, and it went downhill from there. but in the mad scramble, the question is what happened to the m

mr. george miller is here with us. he is not a member of the subcommittee but i would ask unanimous consent to allow him to speak on this issue that he feels strongly about them without objection? the gentleman from massachusetts? it is recognized for one minute. >> thank you for having this hearing and i congratulate the young people who are here today. i don't think this is the usual situation because congress is not a usual place. i want to be real clear, this proposal today is a good proposal. it is something that is long overdue and i congratulate the chairlady for submitting it. this is not going to be the final answer to ending homelessness with children or others. the only way this country will do that is to put money on the table to build more affordable housing. simple. otherwise, there will be no place to go. getting a family into a shelter is better than not that is not real advanced or opportunity. we need to build affordable housing in this country right up the ladder for the people at the bottom and up t

mr. miller walked out to his truck. he noticed a car down the street with the light, the inside light on. a figure in the car. he didn't think much of it. until he went to his truck. opened the door. it was a mess inside. >> i found a mess and my phone was gone. >> then you realize, hey, these guys are ripping off that car, too. >> right. exactly. >> reporter: they took off by the time you figured it out? >> right. >> reporter: back to work, he had an ipad, with a special app. >> i used the ipad and located my phone. then i called the police and they tracked the person down. >> reporter: that findmyphone app led police near these bushes and a dumpster. they saw two men get into a red toyota truck. the cops approached them. one said hey, you got us. we stole that phone. by the way, we stole this red truck, too. case closed in 24 minutes. charged, 31-year-old daniel and 54-year-old michael rigby. >> these two suspects arrested were associated with occupy baltimore movement. >> after they were arrested, they told police th

mr. miller: mr. speaker, members of the house, it's unfortunate that today we find ourselves continuing to argue over whether or not an extension of the middle class tax cuts should take place now as opposed to continuing to try to load the bill up with poison pills, cutting off people's health -- unemployment insurance, and getting into an argument with the senate. the proposal that after a year of deliberations that the republicans came up with was rejected in the senate on a bipartisan basis. another bill was passed overwhelmingly to give us a two-month extension so that we can continue to try to work out a long-term solution to a middle class tax cut without accepting poison pills. but now what we see is the republicans choose to turn down that compromise that brought the senate together that can bring this house together to refuse to let us have a vote on that measure because they know there will be bipartisan support for that measure in this house. we can come together and in this holiday seaso

mr. miller: mr. speaker, members of the house, later today the house will consider the reins act which is legislation to design to make sure that in a republican controlled congress no new regulations would be put into effect whether they deal with clean drinking water, clean air, child safety, the safety of children when they play with their toys, the drugs that so many citizens need to take to maintain their health, occupational safety at the workplace, all of that would be destroyed under the reins act. you might ask yourself, well, what would society look like? well, we have a preview of what that society would look like yesterday when the main safety board released the upper big branch mine. it was 29 dead coal miners because the massey corporation was basically allowed to by their board of director evade the basic regulations that were in place to protect the miners. although the miners don't have protection of whistleblower, so we saw that massey was able to intimidate the workers every day no

daniel lungren of california, mrs. miller of michigan and mr. thompson of mississippi. from the committee on the judiciary for consideration of sections 531 of subtitle d of title 5, 573, 843 and 2804 of the house bill and sections 553 and 848 of the senate amendments and modifications committed to conference, messrs. smith of texas, coble and conyers. from the committee on natural resources, for consideration of sections 313, 601 and 197 of the house bill and modifications committed to conference, messrs. hastings of washington, bishop of utah and markey. from the committee on oversight and government reform for consideration of sections 598, 662, 803, 813, 844, 847, 849, 937 through 939, 1081, 19 -- 1091, 1101 through 1111 and sections 827, 845, 1044, 1102 through 1107 and 2812 of the senate amendments and modifications committed to the conference, messrs. ross of florida, lankford and cummings. from the committee on science, space and technology, for consideration of sections 11 sand 1098 of the house bill and sections 885, 911, 912 of division e of the senate amendm

mr. miller? thank you. mr. davis? >> the only thing i would say, i remember my mother telling me when i was a young person that problems are like babies. the more you nurse them, the more they grow. that is not always what your problem does to you, but it's a matter what you do with what could've been your problem. i think you're all well on the way to not having problems with having solutions. thank you very much. >> thank you. and with that we will excuse this panel, and there are seats available for you, for the other, to listen to the other panel. and with that, let me just say that the chair recognizes that some numbers may have additional questions for this panel which they may wish to submit in writing. without objection beginning record will remain open for 30 days from it was just submit written questions to the witnesses. [inaudible conversations] [inaudible conversations] [inaudible conversations] >> i know it's going to be hard to top that panel, but thank you, thank you all for being here. i we now introd

mr. miller?w, because it is in your best interest for the well-being, because the profitability of your company. in fact, i would assume many trucks on the road for you guys probably have a few dollars my driving, call a number. you have a number on the strokes? >> absolutely. >> mr. mackie? >> mr. miller, do you? [inaudible] >> i assume the reasons you have that is because you probably get some insurance wise, insurance payments or you just want the public to know if your name is on the trailer of that track you have safe drivers. there is market forces involved as well. >> there's clearly a margin of the economic benefit. but clearly these drivers and in our industry are 20, 25 year employees. so there's a family connection there as well. you do what these people getting hurt more than anyone else. >> mr. nagle understands because many drivers who were following the rules to cut rid of them. correct, mr. nagle i through night through determined. through mike not through full through day. i appr

mr. miller of education and labor, has said. they warn that h.r. 3010 would upend more than 40 years of labor, health, -- 15 more seconds. it would upend more than 40 years of labor, health, safety, and environmental laws and threaten new needed protections. it would cripple the regulatory process and make protecting workers and the public secondary -- 15 more seconds -- to limiting costs and impacts on business and corporations. i will put this into the record at the appropriate time. the chair: that request has been covered under general leave. the gentleman from texas. mr. smith: i yield myself three minutes. the chair: the gentleman is recognized. mr. smith: mr. chairman, i realize some people want to close their eyes and close their ears so they don't see or hear the facts. there is an old adage that none are so blind as those who don't want to see the wisdom of the facts. mr. chairman, despite the sound and fury that we have heard, let me repeat a fact. and the fact i want to repeat is this, that the bill always allows age

mr. miller for a minute and they have. >> thank you mr. chairman. secretary donovan and thank you for meeting with me this morning. in a nice conversation beforehand and we need to look at ways to shore up the crisis aimed region -- and until we reform the housing system home values will continue to evolve and people will lose funding and this economy will not turn around but the housing market is a very very complex marketplace. .. >> the towers have doubled in size, and that there are in the zone. i know it's a great area for you but it's a very serious area for the people of been impacted. i want to thank your staff for working with us on this issue but it's something we need to look at and say what's right. and people bought in good faith. they are not in a right of way but because of what the state of california's mandated has put them in a difficult situation. it's impacted them in the pocketbook. not only has the marquis had a negative impact on them with falling prices, but now what's been done to them for the betterment of the state so call

mr. miller, you made the point that one of the problems facing the industry, which i'm acutely aware of, is the shortage of qualified safe drivers. do you remember saying that? here's what i don't understand. we're in a recession now. there's a lot of people looking for work. 9% unemployment in this country. why is the industry not able to find enough qualified safe drivers if that is the case? >> sir, i don't have a good explanation for you. i can tell you we are a premium driving operation operating a safe legal fleet. we rarely bump 11 hours, however, i go through an average of 500 applications looking for qualified drivers in my trucks, and that's the concern that people will be forced to put drivers 245 are not qualified and unsafe on the road. >> that's my point. as sympathetic as you can believe, one of the problems is there's a huge shortage of qualified drivers, and i think economists would tell us perhaps one the reasons for the shortage is people looking for work do not find the workplace conditions and the pay worth the risk of trying to become qualified to drive a truck, whi

mr. miller for skipping over him. you're recognized. >> that's fine, mr. chairman.dodd-frank that got at the repo market, which was a huge part of the financial crisis was a proposal from the fdic and she'llly bear to limit how much would be paid or give fdic discretion in receivership to pay less than 100% of the transactions, obviously aimed at the repo market. it was aimed at mortgages on office buildings that made my think congress does not really understand the shadow banking system, and the repo market, and someone really needs who is important, and the industry does not want us to understand it because if we did, we might start to pay attention and figure out what a risk it posed to us. i have a couple question of proposals made to limit repo transactions. one is, and i mentioned it earlier, but limit the number of times a given collateral, and icing the term "rehypothecation," and he was not sure what it meant, but same collateral -- same instrument, same asset used for collateral for multipal transactions. should that be used like a double mirrors where you

mr. miller is recognized for five minutes. >> thank you, mr. chairman. the transaction that seemed to cause all the trouble was the $6.3 billion purchase of sovereign european debt purchased or financed but the repo market. that's correct, isn't it? >> the european sovereign position? >> right, yes. >> financed to maturity. >> but it was purchased through the repo market. >> the original sovereigns position, the underlying debt of those particular sovereigns was purchased in the market, and there was a repurchase agreement arrived at at roughly the same time that the purchase of the underlying securities, and they were put together. so they repoed to maturity. >> the securities were their own collateral; is that correct? >> they were collateral for the repurchase agreement. >> okay. any client assets used to as collateral for that purchase? >> to my knowledge, none. >> okay. the amount of the transaction was five times your book value, but you -- all of the security was actually from the sovereign debt that you purchased through the repo market? >> there

mr. miller? >> i think i will do a favor and pursue this question. i didn't -- i know you said that the criticism of freddie's settlement was reported but i didn't just read press reports at the time i read the ig report. it isn't fresh in my mind at this time it was very critical not it was misinterpreted as being critical. i read it and it was critical, no question about it was very critical. it said it was too cheaply settled for the wrong reason which was to improve your business relationship. >> the report did not reach a conclusion. >> de e-mails left that impression was a very critical report. i think the question is the same as mine there are now pending litigation involving tens of billions of dollars for the private label security mortgage-backed securities the private label that you all thought. there are other put back claims. how much conservatorship ultimately cost the taxpayers will largely depend on how that litigation is resolved. we have an inspector general report that is very critical of how freddie has settled one set of claims a

mr. miller from california has five minutes. >> thank you, mr. chairman. secretary donovan, i'm glad to hear that you're holding renders accountable when they don't do their job. they should bear the loss. i'm also, i guess, relieved to hear that my argument that the loan limits of high cost areas are safer loans which you've justified that they are. but there's no doubt we want to get the private sector money back into the marketplace. that's been the goal all along. and the drop in recent conforming loan limits identified by many economists as a test for the private sector to see if they're willing to step forward and fill the void, do you have any evidence that private market is filling the void created by this at this point? >> um, i think there is some evidence that that's beginning to happen. um, certainly there have been in the jumbo loan space there have been some securitizations, some steps forward. mortgage insurers are, um, some of them at least, coming back into the market more, and i do think that we need to continue to take steps that i talke

mr. gary miller from california. unless we somehow come up with getting this housing market going again, through the real estate building, our economy is not going to come back to the way we want it. and i hope that you are looking not -- i know a number of legislators at giving you different ideas, pieces of legislation that we have written to jumpstart that and i hope that we -- i hope we can actually do it sooner rather than later, but this session is almost over. but the question i want to ask you. your testimony states the default rate on fha loans have been relatively stable throughout this year due to a number of fat person i know you touched upon it. can you discuss the overall state of the housing market to the stable default rates anticipated rebuilding of fha's mutual mortgage insurance fund for 2012? >> i think what is critical they are, we have seen a substantial decline over about a year, year and a half, leading into this year. we have seen stabilization and even a small, increase in delinquency rates

mr. george miller is here with us.s long overdue, and i congratulate the chairlady for submitting it. but i also want to be very clear, this is not going to be the final answer to ending homelessness with children or with others. the only way this country's going to do that is to put money on the table to build more affordable housing. simple. otherwise, there'll be no place to go. simply getting a family into a shelter is better than not, but we can't just leave them in a shelter. that's not real advancement, that's not real opportunity. it is better than not, but we need to build affordable housing in this country right up the ladder for the people at the bottom, the next rung up, the next rung up, and we need to make sure those people can afford to buy a home in today's world, will be able to afford tomorrow by keeping mortgage rates at a ran level. -- reasonable level. otherwise, most of the world will be forced into subsidized housing, and if that happens, we'll never be able to build our way out of it. so i want

sienna miller, mr. mark thompson and then mr. max mosley and j.k. rowling. our first witness is ms. miller. ms. miller. i sienna miller do declare that the evidence shall be the truth, the whole truth and nothing but the truth. thank you very much. >> good morning. >> good morning. >> could you confirm to the please your full name? >> yes, my name is jena rose diana miller. >> you provided a contract to your solicitors and you voluntarily provided the with a witness. >> yes. >> are you familiar with the contents of your witness statement? bim. >> and are the contents of your witness -- true and correct to the best of your knowledge and belief? >> as they are. >> misspell or i've said to almost all of the people who have given evidence to me before how grateful i am for taking part in this exercise. i am very conscious that you have strong views about privacy and the very act of coming to give evidence to me, exposes you and means that you are talking about things which actually are quite key, not to want to talk about. so i understand the difficult choice you have to make and i am ve

mr. miller for a minute and a half. >> thank you, mr. chairman. mr.donovan, thank you for meeting with this morning. a nice conversely shiny to look for ways to shore up the fha insurance fund and falling home prices are a major reason in the situation you're in. until we reform the and system they will continue to falter and people lose money in this economy will not turnaround. the housing market is a very, very complex marketplace. there's no doubt we need to try to bring the private sector back to fill the void has been created out there. and so we do that, somebody has to step forward and make sure there's liquidity in the market place that was the recently formed the fha and the gse to do that. many times will we do is very local. i told you about the situation, she knows about the people suffering from edison power reserve behind their homes. i was nothing to do with them, nothing to do with edison. the sid of california mandated renewable energy must be provided the state of california said they installed 200-foot towers behind homes. the prob

congratulation teacher, trisha miller. mr. speaker, also would like to take time this morning to address and celebrate a piece of legislation that we passed out of the house of representatives last evening. largely almost solely with just republican support. but a bill that deserved bipartisan support for it is great for the entire nation. this is a bill that addresses many of the extension bills that were lingering and would soon expire at the end of the year. in particular, there were three parts, i just want to touch on briefly this morning, that are incredibly important for the citizens of this nation. and i think also parts that are transformational. it's rare we see transformational piece of legislation to -- out of this body. first of all the tax cuts. tax cuts for all americans. this is a tax cut that was actually paid for. not one that added to the national debt. certainly one that threatened in any way the integrity of the social security fund. very proud that -- to be able to support this bill and to do it in a prop

. >> bill: dennis miller says it's wrong for mr. gingrich to go negative. also teed off about the naked san francisco santas. >> is that crazy or what? >> bill: caution, you are about to enter the no spin zone, the factor begins right now. captions by closed captioning services >> bill: hi, i'm bill o'reilly. thanks for watching us tonight. suppressing the presidential vote. that is the subject of this evening's talking points memo. this year eight state have passed new laws that require voters to show photo identification at the polls. that makes 15 states which require a photo id to vote. some liberal americans object to id laws say they put the poor at a disadvantage because they might not have idi's. my question is why can't they get idi's? what is the duty of a citizen? it's to cooperate in the voting process, is it not? the id laws are obviously there to inhibit illegal aliens and other people not entitled to vote. isn't that a good thing? are we not a nation of laws? what is the beef? the justice department is responsible for making sure each state c

miller high life. the beer people say they're going to pay mr. lopez tax bill because the yankees are giving him front row seats for the rest of the season. >> good for them. >> jeter gave him a whole bunch of stuff and this and that. another person could have sold that jeter ball for maybe 100 k. this lopez kid is a good guy. is he a patriot, right? >> i like lopez. i'm kidding. he did the right thing. you can see how we are catch a ball and give it back to a guy without putting yourself into some weird system where geithner afternoon the fed come in like fire. just try to burn it to the ground. it's crazy. >> tax everything take it from buffet and gates. how do they sleep at night? >> i don't know how they sleep slope at night. so things you say in this segment? >> i don't. they put a counting sheep tax on me. >> president obama out on a road for the great american. >> great american jobs act and you say? >> we can all play this game and i don't want to have the racist dime dropped on me. this guy's first three years has been a mess. even some

david miller who was the head of the labor party, mr. cameron did. what we began to realize, there is a political shift going on. it is a generational shift. young people under the age of 30 do not think right-left. they don't think about ideology. it is not even part of their vocabulary radar screen in history. when a young person in the internet generation judge's institutional behavior, the judge it along a different spectrum. is this particular institution of behavior centralized? top-down? patriarchal, clothes and proprietary? is this institutional behavior of distributed, collaborative, transparent, and open? that this was going on in the arab spring with of the young google generation, what is going on on wall street helped. that is what is torn down all over the world. we are seeing a see change in the political landscape from centralized distributed and from top down to lateral out. the third industrial resolution to the evolution changes the political and cultural landscape fundamentally. it is fundamental. that me give you one example of h

miller, everybody. karl rove is mentioned up next. democrats saying barney frank saved the economy. mr.in a fewup minutes. cold symptoms, plus it relieves your stuffy nose. [ deep breath ] thank you! that's the cold truth! >> bill: back of the book segment tonight. of course, this is the ultimate no spin zone. so when we see spin, it makes us squeezy. yesterday on the radio a top democrat was lauding barney frank on the committee. >> he was chairing committee that worked with senator dodd to set up these. which republicans are fighting. for some reason republicans think protecting consumers from the type of greed that went on during the financial collapse, the type of tricky trades and risky business that led to many people losing their livelihoods they want to block the consumer financial protection bureau. >> bill: here now fox news analyst karl rove in town for the obama fundraiser tonight, right? >> i bought a $5 ticket. so, the guy who failed to provide oversight on fannie mae and freddie mac causing -- he didn't cause it but he didn't stop it all kinds of economic pain for all kin

mr. obama held a coffee talk with his facebook followers, but aren't they supposed to be journalists? and are bloggers putting responsible journalists in danger? on the panel this week, writer and fox news contributor judy miller. syndicated columnist cal thomas. jim pinkerton contributing he understands tore the american conservative magazine and the daily beast columnist, kirsten powers. i'm jon scott. fox news watch is on right now. >> now, if you're a family making about 50,000 a year, this is a tax cut that amounts to about a thousand dollars a year. and that's about 40 bucks out of every paycheck. it may be that there's some folks in the house who refuse to vote for this compromise because they don't think that 40 bucks is a lot of money, but anyone who knows what it's like to stretch a budget knows that at the end of the week or at the end of the month, $40 can make all the difference in the the world. >> that's president obama in front of the media making his pitch to persuade the house of representatives to pass the two month extension of payroll tax cuts. the white house making an allout effort to swing things its way, creating a website for americans to tell what $40 a week means to them. and that w

sienna miller, mr. mark thompson and then mr. max mosley and j.k. rowling. the first witness is ms. miller and i call ms. miller. >> why a from the evidence i shall give shall be the truth, the whole truth and nothing but the truth. thank you very much. >> good morning. could you confirm to the inquiry please your full name? >> my name is sienna rosebud diana miller. >> and you have provided a contract for your solicitors and you have provided the inquiry was a witness statement. are you familiar with your witness stand? >> ibm. >> and the content of your statement correct to the best of your knowledge and belief? >> is they are. >> i have said to almost all of the people who've given a evidence to me before how grateful i am to you for being prepared to take part in this exercise. i'm gerry conscious that you have strong views about privacy, and the very act of coming to give evidence exposes you and means you are talking about things which are quite key not to want to talk about. so i understand the difficult choice you have to make and i am very grateful. thank you very much. >> b