mr. sherman, mrs. maloney, ranking member and obviously our chairman as well. mr. huizenga: i do agree and accept this amendment as a friendly amendment. it does confirm what the no action letter has put in place. i believe it properly makes sure that the s.e.c.'s role is preserved but they -- but that congress has its imprimatur on this as well and it aligns the bill with the principles in the no action letter. i think this is a good amendment. reasonable amendment. and pleased to work with the gentleman from california as well and glad that we could get timelyttled and out in a manner announcer: c-span's washington journal. life every day with news and policy issues that impact you. friday morning, sarah ferris will join us to discuss ongoing negotiation and of the government funding deadline and possible shutdown. be sure to watch it c-span's washington journal live at 7:00 eastern friday morning. [captions copyright national cable satellite corp. 2017] [captioning performed by the national captioning institute, which is responsible for its caption content and a

mr. sherman, mrs. maloney, ranking member and obviously our chairman as well. mr. huizenga: i do agree and accept this amendment as a friendly amendment. it does confirm what the no action letter has put in place. i believe it properly makes sure that the s.e.c.'s role is preserved but they -- but that congress has its imprimatur on this as well and it aligns the bill with the principles in the no action letter. i think this is a good amendment. reasonable amendment. and pleased to work with the gentleman from california as well and glad that we could get timelyttled and out in a . nner with that, i yield back the balance of my time. the speaker pro tempore: the gentleman yields back. the chair recognizes the gentleman from california. mr. sherman: i thank the gentleman from michigan and yield back. the speaker pro tempore: the previous question is on the bill as -- as amended and on the amendment offered by the gentleman from california, mr. sherman. the squone the amendment offered by the gentleman from california, mr. sherman. those in favor say aye. those oppos

mr. sherman, mrs. maloney, ranking member and obviously our chairman as well. mr. huizenga: i do agree and accept this amendment as a friendly amendment. it does confirm what the no action letter has put in place. i believe it properly makes sure that the s.e.c.'s role is preserved but they -- but that congress has its imprimatur on this as well and it aligns the bill with the principles in the no action letter. i think this is a good amendment. reasonable amendment. and pleased to work with the gentleman from california as well and glad that we could get timelyttled and out in a manner speak out of order for the purpose of making a scheduling announcement. the speaker pro tempore: without objection, the gentleman is recognized. mr. mccarthy: mr. speaker, i first want to thank all the members for their flexibility in coming back to town this past monday. as such, members are advised that votes are no longer expected in the house tomorrow, friday, december 8. members are further advised to be prepared for the house to be in session the week of december 18. first vot

mr. sherman of california. the speaker pro tempore: pursuant to house resolution 647, the gentleman from california, mr. sherm be, -- mr. sherman, and a member opposed each will control five minutes. the chair recognizes the gentleman from california. mr. sherman: thank you, mr. speaker. this bill began with a propose albie mr. luetkemeyer of minnesota -- proposal by mr. luetkemeyer of minnesota two congresses ago. last congress i introduced it and now the gentlewoman from new york is carrying the bill. this bill, i wouldn't be here supporting it in any form if it undermined dodd-frank. i co-sponsored dodd-frank. or if it undermined the cfpb and institution -- cfpb, an institution i think was very important and was created by dodd frank. -- dodd-frank. with the amendment that i am proposing, this bill goes back to the text that i introduced last year. that text came before the financial services committee and secured the vote of all publicans and 60% of the democrats. now, you can't get all the votes all the ti

mr. sherman had a great point, you also have it going on with what mr.ill is talking about, with outright theft. what happened? do you remember the case i'm talking about. there were 20 in 2012. the notices were withdrawn after commencement of the investigation. >> being a member of the committee we don't really want to talk about specific cases because of the confidentiality of that process helps us dig into those companies. the reality is i also don't recall that specific case. >> that's great. i respect that. if i can just add before i forget about it and let you finish. it would be very helpful at some point down the road when you think it's not hot anymore when policymakers can see some of the cases and deliberations you go through to help us understand how cfius is working. >> in any case we would have looked at the technology. there is economic security as part of national security, absolutely. we would discuss that, too, when we were discussing cases. we would look at the technology and say, is this technology in the state-of-the-art? is it usefu

mr. sherman. >> okay. i'd like to go back first to venezuela.o i understand you'll be going back to your office to make sure that venezuela can't just sell citgo and take the money back to karak cuss? do i have that right? >> it's prohibited under law. >> so they can't -- neither the dividends. >> the dividends are not -- >> but what they can of course do is overpay for oil? >> one way to dividend if you have the retailer is just have them pay $70 a barrel for the oil that comes out of venezuela and when the world prices closer to 50, are we monitoring that? >> i will verify but -- >> please answer for the record. >> yes, sir. >> but you're saying they can't sell the stock of citgo nor can they pay a dividend? >> they cannot pay the dividends under the executive order. a wholesale kwadx of citgo woul trigger a number of things. >> what would it trigger? if they were going to buy a major american company that would trigger siffus but i don't know what it would trigger -- and whether they sell or they could just sell some of the stock? so please a

mr. sherman had a great point with the outright theft what happened? the remember the case i'm talking about? there were 20 the notices were withdrawn after the investigation. >> being a member of the committee we don't really want to talk about specific cases because of the confidentiality of the of process helps us to dig into those companies but the reality is i don't recall that specific case. [laughter] >> i respect that. but before i forget it would be very helpful if at some point down the road if you think it is in hot where policy-makers can actually see some of these cases and those deliberations go through it could help us understand how he might negative cfius is working. >> there is economic security absolutely and we would discuss that also when we would discuss cases but we look at the technology and say is this state of the art, useful militarily? to a finance their capability? and if there was any doubt about that i would be arguing we have to put control around this or if we would trust them or arguing for a block. and say i was usual

mr. sherman. >> okay. i'd like to go back first two venezuela.hope, too interested you will be going back, your office, to make sure the venezuela can't just sell citgo and take the money back to caracas? do i have the right? >> is prohibited under law. >> so neither the dividends -- >> the dividends are not -- >> but what they can do is overpay for oil. one way to dividend if you the retailer is just have them pay $70 a barrel for oil that comes out of venezuela with the world prices closer to 50. 50. i would monitoring that? >> i will verify that -- >> please answer for the record. what you are saying they can't sell the stock of citgo inactivate dividend. >> they cannot pay the dividends under the executive order. a wholesale sale of citgo would likely trigger a number of things. >> what would trigger? if they're going to buy a major american company, that would trigger sifis. >> my understanding -- >> and/or they could just sell some of the stock. >> so please enter for the record but more probably use get questions for the record. what are w

mr. sherman will offer an amendment. i continue to oppose the bill because it would erode the work of the consumer, bureau and undermine the consumer protection in home ownership. i must note this comes on the heels of the recent and unlawful take over of the consumer bureau by the new director. mr. mull veiny is in the process of unlawfully restricting the activities of the consumer bureau and will soon begin rolling back consumer protekdss. wed the should not further erode the rights of consumers. i oppose hr 3971 and look forward to answering any questions you may have. thank you, mr. chairman. i yield back. >> there was a question about the illegality of an action by the president of the united states to actually point the gentleman as the acting director. it's my understanding this went to court and a court decided the remedy. is that correct? >> well, yes, mr. chairman and in fact the cfpb's own legal counsel that was appointed by his predecessor, mr. cord ray agrees the president gets to appoint the acting directo

mr. sherman will offer an amendment to lower the emgss provided for in in this bill, i continue to oppose the bill, because it would undermine the consumer protection in home ownership. i must note, this bill comes on the heels of the recent and unlawful takeover of the consumer bureau by the new omb director. mr. mulvaney is in the process of unlawfully restricting activities of the consumer bureau and will soon begin rolling back consumer protections. congress should not be complicit in these acts by passing legislation that further erodes the rights and protections of america's consumers. for all these reasons, i oppose hr-39721, and look forward to answering any questions you may have. thank you, mr. chairman. >> yes, ma'am. thank you very much. mr. chairman, there was a question that the gentle woman just brought up about the illegality of an action by the president of the united states to actually point the gentleman, mr. mulvaney, as the acting director. it's my understanding that this went to court, and a court decided the remedy. is that correct? >> well, yes, mr. chairman. and,

we'd like to take you now to the russian capital moscow where sherman is monitoring developments certainly that's quite a said back for mr deval me. well absolutely this is not an unexpected setback though. the russian authorities have always been talking about how he had a previous conviction which of course his supporters say was politically motivated in the first place and so it wasn't clear whether he would be able to run from the beginning a lection laws say that someone with a previous conviction can't run for ten to fifteen years after that conviction viney argues that the constitution doesn't mention not so he was hoping that he would be able to run but this was kind of a decision that everyone has just been waiting to happen so a foregone conclusion have we heard from an evolving what's next for him what role can he still play in all of this. well these team has already said that they will appeal the decision and has already called for a boycott of the elections even yesterday when he was putting his candidacy forward officially he said that he calls on other office candidates to pull out of the race up to five

mr trump's decision. police investigating the deaths of a 75—year—old canadian billionaire and his wife say the circumstances appear suspicious. barry shermanr pharmaceutical company, was found dead with his wife honey at their mansion in toronto. reports say there was no sign of forced entry. lorenda reddekopp is a reporter for cbc news in toronto. she gave me the latest on the investigation. the autopsies were supposed to have been done today, but we haven't heard what those autopsies revealed. but at the scene today there were police vehicles, they were there all day long, at one point, it was six police cars lined up one in front of the other in front of the house and one of those vehicles was a forensics identification van. there is still yellow police tape up in front of that mansion. as well, a few people, two people who say that they were employees of that company that barry sherman founded, this was back in the 1970s, they left bouquets of flowers just outside the home and both of those employees were incredibly upset, they were actually both in tears. they say that he was a very nice man, kind man and theyjust couldn't believe thi

sherman and oliver ellsworth, are depicted on the wall right outside the senatey. not far from the marble room where their example of finding common ground would be practiced for decades to come. mr. president, in the shadow of these founding debates, political voices today are arguing louder and louder about smaller and smaller things. it is easy for those outside this chamber to insist that they know what should be done, and as long as we remain so deeply divided, those outside voices will always win. when i leave the senate, i hope to have lived up to the words of a dempsey, voice -- a different voice e on april, if 1910 in a time of great change in this company, agency the united states was coming to define a new world order, president teddy roosevelt delivered a fame as passage. he said, it's not the critic who counts. it is not the man who points out how the strongman stumbles or where the doer of deeds could have done them better. credit belongs to the montana who is actually in the arena, whose face is marred by dust and sweat, who comes short again and again wows there's no effort without error and shortcoming, but who actually strives to do the deeds, who knows great en

sherman and oliver ellsworth, are depicted on the wall right outside the senatey. not far from the marble room where their example of finding common ground would be practiced for decades to come. mr. president, in the shadow of these founding debates, political voices today are arguing louder and louder about smaller and smaller things. it is easy for those outside this chamber to insist that they know what should be done, and as long as we remain so deeply divided, those outside voices will always win. when i leave the senate, i hope to have lived up to the words of a dempsey, voice -- a different voice e on april, if 1910 in a time of great change in this company, agency the united states was coming to define a new world order, president teddy roosevelt delivered a fame as passage. he said, it's not the critic who counts. it is not the man who points out how the strongman stumbles or where the doer of deeds could have done them better. credit belongs to the montana who is actually in the arena, whose face is marred by dust and sweat, who comes short again and again wows there's no effort without error and shortcoming, but who actually strives to do the deeds, who knows great en