mr. pearce: thank you. the idea you have information on local economies, i met with the federal -- with the federal reserve bran in el paso just last week, week before. they have the correct information. in other words the thing that troubles most employers on our district is they cannot find workers who will show up for work. yet when i ask janet yellen personally about this, she said she had no knowledge. if the information is is not g to be transmitted from those branches who are out there tracking the specific problems of the economy, what difference does this make anyway? ms. george: we do bring forward that information. i think the anecdote you described is one that i hear regularly in the region. and it gets to understanding what is it the monetary policy can affect and what are more structural issues that will require other sorts of policies to effect when you described, i would argue, is one that will have to have other remedies brought to it as opposed to low interest rates. mr. pearce: thank you.

mr. pearce: don't worry about it. that's ok. mr. stumpf: i don't have that. mr. pearce: so just looking at this from a 30,000 viewpoint and i, like mr. lucas, grew up on a small five-acre farm. dad was a share cropper before he went to work as a rouse about. we were working in oil fields in southeast new mexico. the numbers getting thrown around are a little bit big. i can't fathom somewhere in the process you got 5,300 people terminated and that doesn't come to your attention as a c.e.o. you get calls on the ethics line saying, hey, we're doing unethical stuff, 2008, according to one of the other people. according to your comments, people are involved in criminal acts and that doesn't come to your attention. you get $10.8 billion in settlements and that doesn't come to your attention. so what -- if i'm sitting here thinking about this stuff just coming in a clear, just quiet room, board, seeing these things, at some point somebody's going to say, houston, we got a problem. but it doesn't appear that anybody ever said, houston, we got a problem. l.a. city attorney

mr. pearce: don't worry about it. that's ok. mr. stumpf: i don't have that. mr. pearce: so just looking at this from a 30,000 viewpoint and i, like mr. lucas, grew up on a small five-acre farm. dad was a share cropper before went to work as a rouse about. we were working in oil fields in southeast new mexico. the numbers getting thrown around are a little bit big. i can't fathom somewhere in the process you got 5,300 people terminated and that doesn't come to your attention as a c.e.o. you get calls on the ethics line saying, hey, we're doing unethical stuff, 2008, according to one of the other eople. according to your comments, people are involved in criminal acts and that doesn't come to your attention. you get $10.8 billion in settlements and that doesn't come to your attention. so what -- if i'm sitting here thinking about this stuff just coming in a clear, just quiet room, board, seeing these things, at some point somebody's going to say, houston, we got a problem. but it doesn't appear that anybody ever said, houston, we got a problem. l.a. city attorney bri

mr. pearce and his kee sponsors for their leadership. in closing, tribal objects play a crucial role that native americans retain the ability to learn about their heritage and commit to their personal identity. the story, you told, was a moving one and evidence is how important this legislation is. the theft of these objects is a direct assault against native american sultturs but when they is stolen or this detrimental. our nation has the responsibility to do everything in its power to return these priceless artifacts. the nress 122 recognizes urgency. and i yield the balance of my time. the speaker pro tempore: i the gentleman from from michigan is recognized. the speaker pro tempore: will the house suspend the rules agree to house resolution 122 as amended. those in favor say aye. those opposed, no. in the opinion of the chair, 2/3 being in the affirmative, the rules are suspended and concurrent resolution is agreed to and the motion to reconsider s laid upon the table. for what purpose does the gentleman from michigan seek recognitio

mr. pearce: the problems continued, sir. the problems continue right through your actions. in 2011 you did this. 2013, did you that and the problems -- mr. hensarling: the time of the gentleman has expired. the chair recognizes the gentleman from texas, mr. green, ranking member of the oversight and investigations subcommittee. mr. green: thank you, mr. chairman. i thank the ranking member as well. i'm grateful that you have given us a very positive response, and we are holding this hearing. mr. chairman, with $5.6 billion in earnings in the second quarter, wells fargo is not in this because of need. this is about greed. it's about the same kind of greed that created credit default swaps, that created negative amortization, that created no doc loans, that created prepayment penalties that coincided with teaser rates. the same kind of greed called exotic products that created the housing bubble. this greed has caused this cross-selling to become the equivalent of an exotic product, a product that has now created a cross-selling bubble for wells fargo. the cross-selling bubble

mr. pearce. >> thank you, for being here today for this fascinated discussion. i was going for follow up a little bit from what the gentleman from washington was talking about. you just got back to jackson and you are looking at the full employment mandate, what is the sense of the members presatisfied of the 5% employment concerned? you got an opinion about how or what the outlook was of the full employment mandate? >> i only speak to the region we serve in indiana. >> anybody on the panel go to jackson home? >> yes. >> did you read any online comments or anything? >> the focus of jackson homes was looking at monetary policy and framework for the future and global and central banks. the issue that you raised is one that's discussed at the meetings to understand how will the labor market perform ing in the econoy today. judgment about how close we are to full employment. so, what's the judgment? >> fairly close? 5% okay? >> i believe we are at or near full employment. >> when you reverse it, we see a participation rate of 62.8%. we are saying and your words, 62.

mr. pearce. >> thank you, mr. chairman. thank you, sir, appreciate you being here.ct it's not all fun. the -- so you talked about the 5,300 that were terminated. how big a percent of the people in the company that were terminated out of 268,000 people, you'd get more than 5,300 terminated, so what percent of the terminations did that actually represent? >> you know, i don't have that. i can work with our team and see -- >> ah, don't worry about it. that's okay. >> i don't have that. >> so just looking at this from the 30,000-foot viewpoint and keep in mind i'm like mr. lucas, live on a small five-acre farm, dad was a sharecropper before he went to work as a roustabout. we had a blue collar company just working there in the islefields -- oilfields of southeast new jersey so the numbers that get thrown around here are pretty big, but i can't fathom that you've got 5,300 people terminated, and that doesn't come to your attention as a ceo? you get calls on the ethics line saying, hey, we're doing unethical stuff, 2008 -- according to one of the other people -- according