mr. reid: mr. president, i ask unanimous consent the reading of the names be waived. the presiding officer: without objection. mr. reid: i ask consent to waive the mandatory quorum required under rule 22 for both cloture motions. the presiding officer: without objection. mr. reid: mr. president, i want to express my appreciation for the good work done on this most important bill that just passed the senate, the ex-im bank. it was reported out of the banking committee, and senator johnson did a great job with his committee. in addition to that, the work of senator cantwell was exemplary. she is a terrific legislator. she gets her teeth in something, she won't let it go. and she would not let us take our eye off the prize, that is passing this important legislation. i have such admiration for her legislative skills and basically her legislative skills and want it spread across the record my admiration, and congratulate her on this legislation which meant so much to her and the entire country. mr. pre

mr. reid: madam president? the presiding officer: the majority leader. mr. reid: i now move to the proceed to executive session to consider calendar number 552, the nomination of paul woffartf. the presiding officer: the clerk will report. the clerk: pule j.watford of california to be united states judge for the ninth circuit. mr. reid: madam president, i ask -- let's see. i have a cloture motion. i want that reported, please. the presiding officer: the clerk will report the motion. clerithe clerk: cloture motion: we, the undersigned senators, in accordance with the provisions of rule 22 of the standing rules of the senate, do hereby move to bring to a close debate on nomination of paul j. wattford of california to be the united states circuit judge for the ninth circuit signed by 17 senators as follows -- mr. reid: madam president, i would ask that the reading of the names be waived. the presiding officer: without objection. mr. reid: i ask unanimous consent that the mandatory quorum under ru

mr. reid: is there an objection by either senator kyl or senator -- mr. kyl: yes, mr. president, for the reasons noted, i would hope that we could work our colleagues to fix the problem here. until we do i would have to object. the presiding officer: objection is heard. mr. reid: mr. president, this is sump a such an interesting conversation on the floor. i didn't have the papers. i don't blame nigh friend infrastructure arizona for not having the dowvment i don't blame nigh friend from missouri for only having a half-hour to look at this. this thing was given to the republican leader yesterday in midday. all right? now, mr. president, the language they're objecting to was in the base bill. so unless they didn't read the base bill, we have a problem here. now, they said they want to get it done. a strange way of showing they want to get it done. mr. president, this has been a classic example of rope-a-dope. i try to be a patient man, and i have been very patient with my staff working with sena

mr. reid: we are now on the motion to proceed to the f.d.a. user fees bill. the republicans will control the first half-hour, the majority the second half-hour. we're working on an agreement to consider amendments to the f.d.a. bill. we're close to being able to finalize that. we hope to get on an agreement and avoid filing cloture on the bill. madam president, there are two bills at the desk due for a second reading. the presiding officer: the clerk will read the titles of the bill for the second time. the clerk: s. 3220, a bill to amend the fair labor standards act of 1938, and so forth and for other purposes. s. 3221, a bill to amend the national labor relations act, and so forth. mr. reid: madam president, i would note the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: the presiding officer: the majority leader. mr. reid: i ask the call of the quorum be terminated. the presiding officer: without objection. mr. reid: the chair read a couple of bills.

mr. reid: during tomorrow's session, mr. president, it's possible the senate wit resume consideration of the motion to proceed to student loan interest rate hike as well as export-import bank reauthorization act. that should be easy. that should be something that we should agree to. we tried here on the ex-im bank to get it done. everybody wanted it done, the chamber of commerce, labor, aircraft companies all want it and everybody wanted it done. but as a lot of things here in the senate it didn't get begun -- get done because the republicans wouldn't let it get done. it went to the house and the republicans sent us one that is virtually the same as the one we weren't able to pass here. i can't imagine anyone would want to slow that one down. but, mr. president, i hope i don't have to file cloture on it because i do, i'll do it because we'll have another chance to vote on it just as it came from the house. it passed over there. every democrat over there voted for it and 90 republicans voted against it. we all know who they a

quorum call: mr. reid: mr. president, i ask unanimous consent that the call of the quorum be tevmented. the presiding officer: without objection. mr. reid: i now ask unanimous consent that the cloture motion on the motion to proceed to calendar number 400, the food and drug administration food and drug administration act be vitiated. the motion to proceed be agreed to, harkin-enzi substitute be agreed to, the bill as amed by the harkin-en disee substitute be considered original text for purposes of further amendment and the majority leader at that time be recognized. the presiding officer: is there objection? without objection. mr. reid: mr. president, based on this, we'll have a vote that will start in five minutes. that will be the only vote of the day. the presiding officer: the clerk will call the roll. quorum call: mr. reid: i yield back all time and ask that the votes start now. the presiding officer: without objection. mr. reid: ask for the yeas and nays. the presiding officer: is there a sufficient seco

mr. reid: mr. president? the presiding officer: the majority leader. mr. reid: is the senate having a quorum call at this time? the presiding officer: it is. mr. reid: i would ask that it be vitiated. the presiding officer: without objection. mr. reid: i ask unanimous consent that at 11:15 a.m., may 15, the motion to proceed to calendar -- mr. reid: mr. president? the presiding officer: the majority leader. mr. reid: starting over. i ask unanimous consent that tomorrow at 11:15, that's tuesday, may 15, the motion to proceed to calendared 396, -- calendar numbered 396 h.r. h.r. 2072, be adopted. the only amendments be lee, paul, corker, vitter, toomey, that there be no amendments in order to any of the amendments prior to the votes, there be no motions or points of order in order -- than the budget points of order and the applicable motions waived. there be two hours of debate equally divided between the two leaders and their designees prior to votes in relation to the amendments in the order l

mr. reid: mr. president, i ask unanimous consent that we now proceed to a period of morning business with senators allowed to speak up to ten minutes each. the presiding officer: without objection. mr. reid: i ask the banking committee be discharged from further consideration of s. 2367. the presiding officer: the clerk will report. the clerk: s. 2367, a bill to strike the word lunatic from federal law and for other purposes. the presiding officer: is there objection to proceeding to the measure? without objection. the committee is discharged. and the senate will proceed to the measure. mr. reid: i ask unanimous consent the bill be read a third time passed, the motion to reconsider, there be no intervening action or debate, any statements relating to this matter placed in the record at the appropriate place as if read. the presiding officer: without objection. mr. reid: i ask unanimous consent the senate move to h.r. 4097. the presiding officer: the clerk will report. the clerk: h.r. 4097, an act t

mr. reid: mr. president, i ask unanimous consent that the motion to proceed to calendar number 396, h.r. 2072, which is an act to reauthorize the export-import bank of the united states be adopted, there be no amendments, motions or points of order to the bill other than budget points of order and applicable motions to waive. that there be an hour of debate equally divided between the two leaders or their designees prior to a vote on passage of the bill. the presiding officer: is there objection? mr. kyl: mr. president, reserving the right to object. i would ask the majority leader to modify his request to accommodate a few amendments. therefore, i ask consent that the request be modified to allow the following amendments -- corker, number 2102, financing for transaction subsidized by export credit agencies. vitter, 2103, prohibitions on funds used for energy development outside of the u.s. toomey 2104, $40 billion increase contingency. lee number 2100 phaseout. and paul 2101, limitation on ex-im s

mr. reid: mr. president? the presiding officer: the majority leader is recognized. mr. reid: i move to proceed to calendar number 400. the presiding officer: the clerk will report. the clerk: motion to proceed to calendar number 400, s. 3187, a bill to amend the federal food, drug and cosmetic act to revise and extend the user fee programs for prescription drugs and medical devices, to establish user fee programs for generic drugs and biosimilars and for other purposes. mr. reid: thank you, mr. president. we're now on the motion to proceed to f.d.a. user fees legislation i. now extent that following my remarks and those of the republican leader, the time until 10:30 be equally divided and controlled between the two leaders or their designees with the republicans controlling the first half and the majority controlling the final half. the presiding officer: without objection. mr. reid: mr. president, therefore, at 10:30 today the senate will proceed to executive session to consider the stein and powe

mr. reid: mr. president? the presiding officer: the majority leader is recognized. mr. reid: i move now to proceed to calendar number 396, h.r. 2072. the presiding officer: the clerk will report. the clerk: motion to proceed to calendar number 396, h.r. 2072, an act to reauthorize the export-import baipg of the united states and for other purposes. mr. reid: mr. president we're now on the motion to proceed to the ex-im bill. i hope we can pass the bill today. i haven't had an opportunity today to speak to the republican leader, but i'll do that shortly and will decide if there's a way forward on that. so i ask unanimous consent that the next hour be divided and controlled between the two leaders or their designees with the majority controlling the first half and the republicans controlling the second half. the presiding officer: without objection. mr. reid: i note the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: mr. reid: mr. president? the presiding officer: the goral is recognized. mr. reid: i ask unanimous consent that the cal

mr. reid: mr. president? the presiding officer: the majority leader. mr. reid: reserving the right to object. i, first of all, want to express my appreciation to the senator from louisiana and the senator from alabama for their courtesy. they're going to talk a lot longer than what he's talked now. and in recognizing there would be a good chance that i would object to their request, they have agreed to allow me to say a few words before they finish what they want to say here on the senate floor. so i appreciate that courtesy very much. i do have some other things i need to work on. mr. president, the vitter-sessions legislation literally takes a sledgehammer to a problem that deserves some very fine tuning scalpel. there are news reports that have suggested that some have claimed the child tax credit for children who actually live outside the united states. the tax code is very clear that a child tax credit is not available for children living outside the united states. very clear. and if in fact s

mr. reid: mr. president? the presiding officer: the majority leader. mr. reid: i'm glad the republican leader is on the floor. we've worked very hard to arrive at this point, i'm going to ask this consent agreement. i appreciate everyone's help, and it takes everyone's help to get to where we are. that's why we call them unanimous consent agreements. i ask unanimous consent that the only first-degree amendments in order to the bill that's now pending before the senate be the following: bingaman 2111, mccain 2107 -- the presiding officer: under the previous order the motion to proceed to s. 3187 is agreed to. the clerk will report. the clerk: calendar number 400, s. 3187, a bill to amend the federal food, drug and cosmetic act to revise and extend the user fee programs for prescription drugs and medical devices, and so forth and for other purposes. the presiding officer: under the previous order, amendment number 2122 is agreed to. the majority leader. mr. reid: thank you very much, mr. president. i'm sorry i got ahead of chair a little bit. i ask unanimous

mr. reid: and i would also ask, mr. president, as part of that that the majority would control the first half and republicans the final half. the presiding officer: without objection. mr. reid: at 11:15 the motion to proceed will be adopted and there will be up to two hours of debate on the bill. there will be up to five amendments. at 12:30 senate will recess up to 2:15 for weekly caucus meetings. as early as 2:15 there will be up to six roll call votes in order to complete action on the export-import bank. there could possibly be five votes. that's part of the offer. i've been told they may not all be offered. and then we'll have final passage on the bill. mr. president, h.r. 5652 is at the desk and due for its second reading. the presiding officer: the clerk will read the title of the bill for a second time. the clerk: h.r. 5652, an act to provide for reconciliation pursuant to section 201 of the concurrent resolution on the budget for fiscal year 2013. mr. reid: i would object to any further proceedings on this issu

mr. reid: madam president? the presiding officer: the majority leader. mr. reid: i now move to proceed to calendar number 365, s. 2343. the presiding officer: the clerk will report the motion. the clerk: motion to proceed to calendar number 365, s. 2343, a bill to amend the higher education act of 1965 to extend the reduced interest rate for federal direct stafford loans, and for other purposes. mr. reid: madam president? the presiding officer: the majority leader. mr. reid: following my remarks and those, if any, of the republican leader, the senate will begin debate on several motions to proceed to republican budget resolutions. consent was asked last night, i'm quite sure, that the time be, first hour be equally divided between the two leaders with the majority leader controlling the first half, the republicans the final half. that's already done, isn't it? the presiding officer: correct. mr. reid: there will be up to six hours of debate on the motion to proceed on these budget resolution.

mr. reid: mr. president? the presiding officer: the majority leader. mr. to proceed to the stop student loan interest rate hike. the time until noon will be divided between the two parties. the majority will control the first, the republicans the second 30 minutes. at noon there will be a cloture cloturevote on the motion to proceed to s. 2343, which is the stop student loan interest rate hike act. at 12:30, the senate will recess until 2:15 to allow for the weekly caucus meetings. there are four bills at the desk due for a second reading. i'd ask that the chair would move these forward. the presiding officer: the clerk will read the titles of the bills for the second time. the clerk: and act to authorize the continuation of certain water diversions used on system land. h.r. 2240, an act to though, change of land and so forth and for other purposes. h.r. 4628, an act to extend student loan interest rates for undergraduate federal direct stafford loans. h.r. 4849, an act to direct the secretary of interior to issue commercial use authorizations to commercia

mr. reid: mr. president? the presiding officer: the majority leader is recognized. mr. reid: i now move to proceed to calendar number 400, s. 3187. the presiding officer: the clerk will report the motion. the clerk: motion to proceed to consideration of calendar numbered 400, s. 3187, a bill to amend the federal food, drug and cosmetic act, and so forth and for other purposes. mr. reid: mr. president, we're now on the motion to proceed to the f.d.a. user fees bill. at 4:30, the senate will proceed to executive session to consider the nomination of paul watford to be a member of the ninth circuit. at 5:30, there will be a cloture vote on the watford nomination. if we're able to confirm his nomination, we should expect a second vote, cloture vote, on the motion to proceed to f.d.a. user fees legislation. mr. president, this week, the senate must complete work on legislation that will enact crucial reforms that will prevent drug shortages and bring life-saving medicines to market more quickly. se

mr. reid: madam president? the presiding officer: the majority leader. mr. reid: i move to proceed to calendar number 400, s. 3187. the presiding officer: the clerk will report. the clerk: motion to proceed to calendar numbered 400, s. 3187, a bill to amend the federal food, drug and cosmetic act, and so forth and for other purposes. mr. reid: madam president, we're now on the motion to proceed on the f.d.a. user fees bill. the democrats will control the first half. the republicans the final half-hour. we'll recess from 12:30 until 2:15 today to allow for our weekly caucus meetings. at 2:15, the motion to proceed will be adopted and the harkin-enzi substitute will be agreed to. i now ask unanimous consent that tiffany griffin, from senator bingaman's office, be granted floor privileges for the duration of s. 3187. the presiding officer: without objection. mr. reid: madam president, there are 12 million people in the united states who face a cancer diagnosis today. many have fought back against

mr. reid: madam president? the presiding officer: the majority. mr. reid: the clerk just read the matter before the senate is to prevent the loans that students get to be able to go to school, the money they borrow, to prevent the interest rate by doubling from 3.4% to 6.8%. that's the bill that's before the senate. yesterday the republicans continued to filibuster our plan to make that not happen. we do not want the rates to double. we don't want them to go up at all. there's 30,000 people in nevada that are depending on our doing something to reduce those rates. what's worse, in my estimation, i think the american people, is that the republicans seem proud of blocking this legislation. not a single republican voted to allow the debate to go forward. madam president, this isn't an issue of saying, okay, if i vote for this, this will be the lilings. they wouldn't even let us go forward on it to debate it. i've said, if they don't like -- they've said that they hike the bill except they don't like the way it's paid for. fine, let us get on the bill and

mr. reid: mada mr. president? the presiding officer: the majority leader is recognized. mr. he f.d.a. user fees legislation. there is an agreement now reached to complete this legislation today. under the agreement, debate time will expire at 2:00 p.m. today. up to 12 roll call votes could begin earlier in order to complete action on the bill and have a couple votes in relation to the student loan interest rate hike. we'll notify everyone if time is yielded back, but people should be aware of the need for you come here we hope before noon to have a couple votes. there will be no votes between 1:00 and 2:00 because of meetingmeetings both sides have. so we also hope -- we worked out a tentative agreement yesterday on flood insurance, which is important to 6 million people. we need to get that done today also. we hope we can get that done. mr. president, i was pleased yesterday to reach an agreement with the republican leader on thousand move forward with this f.d.a. -- on how to move forward with this f.d.a. bill. this legislation would establish a protocol and ensure f.d.a. r

mr. reid: mr. president, we have one more vote this evening, and the republican leader and i have worked out something tentatively and i think we'll be able to put it in writing in just a few minutes where we'll have two votes tomorrow at noon on the two fed nominees. and then we -- as i think most people know, i moved last night to the f.d.a. bill. excuse me. i hope that we can -- don't have to file cloture on that, that we can just move to it and start the amendment process. that's what the people want, that's what we want, that's what we're willing to do, and i hope we can do that. it's a wide-ranging bill, extremely important for the country. relevant amendments. there is lots you can do there. so i would hope that we can do that. have an agreement to that effect. the presiding officer: under the previous order, there will now be two minutes of debate equally divided prior to a motion to proceed to senate concurrent resolution 44 introduced by the senator from utah, mr. lee. mr. lee: mr. presid

mr. reid: mr. president? the presiding officer: the majority leader. mr. reid: i move to proceed to calendar number 396, h.r. 207 26789 the presiding officer: the clerk will report the motion. the clerk: motion to proceed to calendar number 396, h.r. 2072, an act to reauthorize the export-import bank of the united states and for other purposes. mr. reid: mr. president, we're now on the motion to proceed to the ex-im bank bill. we're working on an tkpwaeplt to begin -- on an agreement to begin consideration of the bill. at 4:30 today the senate will proceed to executive session to consider two of the united states district judges from maryland and illinois. at 5:30 there will be up to three roll call votes. the first two will be con confirmation of russell and tharp and the third will be on the motion on cloture to proceed to the ex-im bank bill. there was a time a bill to reduce the deficit to support hundreds of thousands of jobs would fly through the senate with bipartisan support. not so any more. instead a worthy measure that would support 300,000 ameri

mr. reid and the president called and twisted arms to make sure they couldn't get enough to overcome the filibuster. >> kim, let me ask you another one. hold on, joy. the bush tax cuts must be extended. they have to be extended. everybody with a pea brain knows that, kim. they may not be extended permanently. but you don't want to have the economy completely tank in the next several months. now, i want to ask you from your reporting what are the senate democrats going to do. the republican house will extend the bush tax cuts. what will harry reid and chuck schumer and the senate democrats do? >> listen, i'll tell you. all we have talked about for three years, larry, is uncertainty in the business community. and they are paralyzed with fear right now because what is becoming clear is there is no intention to deal with this during the regular course of order. they are going to wait until they get in the lame duck and your going to have the election that could well be for instance the republicans

mr. reid: mr. president? the presiding officer: the majority leader. mr. reid: i enter a motion to reconsider the vote by which cloture was not invoked. the presiding officer: the motion is entered. under the previous order, the senate stands in recess until 2:15 p.m. we will have more senate coverage when they gavel back in at 2:15 here on c-span2. >>> don't forget about c-span's congressional directory. inside you find contact information for each member of the house and senate as well as district maps, committee assignments and more. also cabinet members, supreme court justices and the nation's governors. it is 12.95 plus shipping and handling. order on line at c-span.or c-span.org/shop. sssb#" >> president obama from this morning as he prepared to depart for new york. he is on the road currently headed to, currently this afternoon at the college of nanoscale, science and engineering at the state university of albany in new york. expected to make remarks there this afternoon at 1:5. we will have those live for you here on c-span2. [background noises] [ba

mr. reid: thank you.we're now considering the motion to proceed to the stop students loan interest rate hike. at 4:30, the senate will proceed to executive session to consider three judicial nominations, the nguyen nomination, the baker and lee nominations which are two district court nominations from arkansas and illinois. at 5:30 there will be up to three roll call votes on confirmation of the nominations. mr. president, a woman from nevada by the name of amy reilly, a single mother from las vegas, was devastated when she was laid off three years ago because of her employer having little work. she wasn't in love with her job doing bookkeeping for a local construction company but she loved the steady paycheck. so looking back on the pink slip, amy views it as, of course, a setback in one sense but really she feels very good about the fact that it gives her a second chance. like many resourceful americans who lost their jobs after the financial and housing markets collapsed, amy took the opportunity to re

mr. harry reid, i see harry reid. if it's rosa delawyer owe, i'll see her. if it's senator leahy from vermont, i see him. and i've traveled all other the country for each -- all over the country for each one of those people. i've been to california for george miller, and i thanked him because it was his committee who named the law ledbetter. and i'm told that i'm the only alabamian with a law named for them. it's not common. and there's less than 35 in the history. i'll be going back to seattle law school next month, and they've been doing the research. so this is not a common thing, to have a law. and it's like congressman miller said, we don't name 'em for people like you, lil. he said, we name 'em for ourself. [laughter] whoever drafted the bill. any other questions? >> i also want to thank you as a woman. >> talk in the mic. >> before you got that note, did you suspicion, did you have any suspicions that you were not being paid? >> common sense would tell me based on the treatment and so forth be, and a lot of the other things that you'll read in the boo

mr. stol will be michael nolty, lawrence reid, evans, and rose hilton. >> hello, my name is kevin stall and i live at 875 post street which, right now, you kept in district six and i wanted to say i thank you for that. i am a tenant organizer in my building and we worked with the bristol hotel, helping deal with issues with the tenants who live there that have problems that they did not solve. so we helped solve their issues for them. and we would like to continue to work with them as long as they stay in district six. it's only like a hundred people though, which is a very insignificant population addition to district three, but it would still be most important to keep the tenderloin as a community intact. to keep the tenderloin intact. he also just said that he with hopefully not having to take anything else away from district six as well. thank you for your hard work and hopefully this will be the last of your meeting. thank you, and go giants. >> hi, i'm lawrence lee -- >> hold on, it's actually mr. nolty first. >> oh, i'm sorry. >> can you do everything at once? all right, thank you ve

mr. reid or his designee on behalf of senator cornyn. mr. president, i ask unanimous consent that floor privileges be granted to caroline goodbody and amanda mandoza, two legislative staff members during today posts session. the presiding officer: without objection. mr. durbin: i ask unanimous consent the time between 2:00 p.m. and 5:00 p.m. be equally divided and controlled between the two leaders or their designees and all quorum calls during that period also be equally divided. the presiding officer: without objection. mr. durbin: i yield the floor. a senator: mr. president? the presiding officer: the senator from maryland is recognized. mr. cardin: thank you, mr. president. i take this time to urge my colleagues to allow us to move forward on the consideration of the stop student loan rate hike act so that we can allow the interest rates on student loans to remain at its current level rather than doubling, which will happen on july 1 unless we take action. mr. president, i come to the floor to express the views of many marylanders who i

reid. 3 a ... maryland woman... has waaied... á70 yearsá... for mr. right...//.ááfinallyáá.../ hh's found him.met her sooo-to-bb husbann on 3 shullze ssys shee ad to kiss a 3 one... but she knew she'd rather be alone then marry the wrong man.her fiince finally proppsed to er... in fronn of -3hhr entire family. 3 "hh got down on his knee and pplled he chair close just in case heecouldn't get back up." - (laughs))and-i used itttoo." too."the couple will marrr in front of more than a hundrrd friends and family... &pp33 &&pthat's all ffr foxx5 newssat 5:30."family feud" is next. next.anddwe'll be back toniggt the late eddtion at 11... 11...we'll see you we love gardening... yeah, but the feeling wasn't always mutual. i want you to grow big! if you grow for me you'll get cookies for free. nothing worked. ♪ ♪ but we started using miracle-gro garden soil. you just mix it with your backyard soil... and it feeds your plants for up to 3 months. my plants grew bigger... more beautiful... with more flowers and vegetables. guaranteed. everything changed with miracle-gro. for you are these flowers, like soa

mr. trent reid?>> man, are ju >> of us is going to say that every case stands on itsth own own merits and just the rceipt merits whether it is i.c.e. management or cbp management to see the person in that position vulnerabilities to gray. we made to put on administrative duty while it continues, re-sign them are depending on the level of evidence and seriousness of the position of the individual. it may be put on administrative leave. that would help us face that decision. >> if you'd indulge me for a moment. mr. winkowski, -- >> i would like to have a couple of issues here, a couple thoughts. i think it's very very important that these allegations be worked down quickly. we have the responsibility to exonerate people as well. i think the panelists agreed if we have an individual is suspicion that we really need that investigation to move quickly because that individual is still on the line, if you will and is still processing people and still processing cargo. once we are notified by the investigati

mr. chairman, thank you. >> senator reid. you have said you do not have jurisdiction over this entity, but you are trying to define hedges in a way that covers the legitimate operations of the financial institutions minimizing their risk without allowing speculation. there is this tension it seems -- the tension between a risk management. i know that you suggested criteria. to this dilemma of defining a protecting clients and protecting investments and banks speculation? >> i think that is the hard challenge the congress has given us. i would say that it is true with the market making extension as well. we believe deeply that businesses have to be able to engage in both activities such as marketing to make sure our efficiently as possible at hedging to reduce risk. laid out are actually pretty good in terms of helping us keep hedging. mitigating more risk either in name individual positions are other positions. that is a themself have given -- monitoring hedges and adjusting, they march into something else over time. programs

mr. schultz, i feel like i'm talking to the mouthpiece of harry reid here. i hope your host will give me a minute. i want to tell you about me and my family. we are all disabled coal miners. my daddy was a coal miner all of his life and ended up working for nothing. what we got in this office right now is a man who said he can fix this thing in one year. he knew what he had. he knew he could fix it in one year, okay. he said if he couldn't fix it in three years, it would be a one-term proposition. this guy is sitting here telling the world that spending is down when his party passes budget. the senate hasn't passed a budget in three years, running everything through appropriations, spending out the yazoo, more than all the other presidents combined. and this guy sitting here telling us this guy is going to win the election. probably enough stupid people to vote for him again. and if they do, i hope they get a belly full. >> all right. let's get a response from the guest. >> well, it really wasn't a question there, it was a statement. and i understand his fru

i saw senator reid's comments got a lot saying mr.imon and essentially the companies should move to las vegas because this is all a form of gambling. i don't agree with that position or attitude myself. it's rather shocking a senator like that would come out and make these kinds of comments shows a little bit of misunderstanding of what exactly is going on. >> and, mary -- >> simon, i want to jump in. >> please do. >> take off of something that you mentioned with miss drew being direct report to jamie dimon. there was a bit of a skrum with reporters yesterday. and i asked mr. dimon, she was a direct report of yours, what is your responsibility in all of this. he says of course the buck stops with me. i said well what questions could you have asked to maybe dig d p deeper into this problem or which questions did you wish you had asked? at that point he wasn't going to answer anymore questions. a lot of questions still remain not only about other companies having similar loss as bob mentioned, but the extent at jpmorgan. >> what i found

mr. chairman. and chairman gensberg and chairman schapiro. thank you for your comments and your commitments. in senator reid's discussion, you mentioned data collection. when will the sec start collecting that data, and where does the implementation stand? >> the security based swap reporting data collection will begin when the rules are finalized, which they are not yet. for regulation sbsr. it's hard for me to say when we'll have adopting rules. hopefully some time later this year. we have one set of rules to propose. we've done one final. we'll do another in the next month and then a steady stream after that. it's important, obviously. i'm a big believer in transparency in the marketplace. i find it works extremely well in other markets. we think it's critical for the public to have access to this information and very critical for regulators to have access. we will have granular information from the trader to the trading desk. >> and i would say maybe to senator toomey's comments earlier, i think transparency is so critical. i hope i can convince you in addition to capital transparency. in the credit defau

mr. schulte. are there any other senators who wish to to make an opening statement? senator reidhank you, mr. chairman, for holding this hearing. i have to go to the floor as part of the debate on the prevention of the increased in city loan interest rates. but i do want to thank the secretary for all of his efforts. let me personally commended senator mendez for his thoughtful proposal. we have been trying over the last several years to do many things to support and revitalize the housing market. i do not think there is one magic solution. it is many things. in that context, i'm very pleased that the administration has finally taken an interest in the rental initiative, taking some of these properties on the books for the banks and putting them back in the market as rental properties. i also understand your discussing project rebuild. i am pleased to work with you in this regard. i think it is important to make the two available as quickly as possible, deploy them to keep people in their homes, minimize foreclosures. and also to provide a floor, essentially, to the housing marke

but harry reid head on to his state. it was a cake walk for mr.ot going to be a cake walk to keep it. growing the economy, he says cut the deficit, cut regulations, also creating jobs, this he lists as a separate category and for this he wants to cuts energy spending, he's got energy independence, health care reform and foreclosures. he's got independence up there and israel, and also in the i section, he's got immigration reform. nevada's electorate is 15% latino. but the las vegas son wrote how dean helder is going to make him a hard sell. heller has sponsored legislation to limit election ballots to english only. dean heller has also supported a bill to end birth right citizenship. so no matter how he tries to craft his appeal, it's going to be hard to escape the that is correct that dean heller has spent his time in washington to making it harder for hispanics. it's going to be hard to get away from that record to win over latino voters in nevada. you want to see how he's trying to do it? this is amassing. >> there's this tiny little tile, see

mr. president why don't you bring harry reid into your office and have him do a budget.been three years now. megyn: spirit airlines under fire after refusing to give this dying vietnam vet a simple refund. trace has the details after this break. [ male announcer ] what's in your energy drink? ♪ wer surge, let it blow your mind. [ male announcer ] for fruits, veggies and natural green tea energy... new v8 v-fusion plus energy. could've had a v8. megyn: spirit airlines facing brutal criticism for denying a $197 ticket refund to this man. a vietnam vet and former police officer who was battling advanced stage cancer and is too sick to travel. >> reporter: this is the airline that charges you $5 to print your boarding pass. he was flying from florida to new jersey to see his daughter before she had her surgery. his doctor told him not to fly. as for the refund, spirit said no way. here is jerry. >> they didn't even review my case. i got to speak to somebody in india who is supposedly a supervisor and he said flat out, here is what we'll do for you. we'll give you a credit so

mr. chairman, thank you. >> senator reid. >> in this joint will making and clever rulemaking, you are trying to define hedges in the way that covers the legitimate operations of the financial institutions and minimizing the risk without allowing speculation. there is this tension it seems -- the tension between a risk management. i know that you suggested criteria. do you have anything else to add to this dilemma of defining a head so that it is properly protecting clients and protecting investments and banks and not opening it up to speculation? >> i think that is the hard challenge the congress has given us. i would say that it is true with the market making extension as well. we believe deeply that businesses have to be able to engage in both activities such as marketing to make sure our kids are operating as efficiently as possible at hedging to reduce risk. i think the criteria that are laid out are actually pretty good in terms of helping us keep the focus on hedging as truly hedging. mitigating more risk either in name individual positions are other positions. that is a themself have

mr. chairman, and chairman ginsler and chairman schapiro. thanks for your comments today and your commitments. chairman schapiro, in senator reid's discussion, you mentioned data collection. and will the s.e.c. start -- when will the s.e.c. start collecting that data, and where does the implementation stand? >> the security-based swap reporting data collection will begin when the rules are finalized, which they are not yet for regulation sbsr. i would -- it's hard for me to predict with a five-member commission exactly when we will have final adopting rules. hopefully some time later this year. we have one set of rules left to propose and then we've done one final. we'll do another final and the next month or so hopefully and then a steady stream after that. it's important, obviously, i'm a big believer in transparency in the marketplace. and we have seen it work extremely well in other markets. we think it's critical for the public to have access to this information. and very critical for regulators to have access to this information. it's a discipline that ultimately translates to, i think, management as well to know that the r

it's just i wanted to make it clear that senator reid was very important to you as he obviously was to mr. ferren. i want to go back to mr. ahern. i want to be sure i get your statement correct why i asked to go first this round. you said you had multiple studies but isn't true by your own powerpoint which we have, when it case risk wee we almost completely reliant on bacilius and his team. that is multiple studies done by one person, isn't that true? basically your support for your risk, our research ultimately if it proves unpersuasive, essentially, this carcinogen incorporated and you say not a rick, you had to convince the commission and his multiple studies were a big part how you convinced them and risk was you wouldn't sell in europe which his studies which you hadn't paid for hadn't helped bolster your case. isn't that a more accurate statement and there were multiple studies awe didn't remember you paid for it? you paid for the organization. you relied heavily on it in your own power point statement, isn't that true? >> i respectively, i mead to break that down -- >> did you. >>

mr. gingrich. >> good morning. -- joined this morning under secretary -- okay. under secretary jo ann rooney and to discuss the system. we have come a long way to discuss walter reid medical center in 2007. at that time, v.a. and the d.o.d. were miles apart. simply stated, the lack of integration and cooperation between the departments did not serve wounded service members well. since that time together, we have committed to achieve a seamless transition through a multipronged approach with idez as one of the critical initiatives. the process was designed to eliminate time consuming and often confusing elements of the separate disability processes. the goals of the joint process were to increase transparency, reduce the processing time, improve con ssistencconsistency. we have enhanced our online tools to allow service members to view appointments and lab results and to track their claim. internally, we have increased transparency through the dash board that tracks performance at each site. the second tears have charged us to reach a combined performance goal of 295 days for 60% of the service members by the end of this year. to ensure we reach this goal, i hold b