ms. maloney. >> thank you to paul volcker, a great president of new york state, and we are proud of your contribution to our country and your public service. there's a great deal of concern about the proposal in the dodd bill in the senate regulatory reform proposal that limits the fed's banking supervision to banks that are larger than $50 billion. first of all, do you see a need to make a distinction between large and small banks? and i would specifically like to comment on the federal reserve's interest rates steady by the federal open market committee which met yesterday, comprised a federal probe -- federal reserve governors, the president of the new york fed, and on a rotating basis, the presidents of five of the regional reserve banks. does this have an impact on the fomc's activities, first mr. bernanke and then mr. volcker? >> if we of the regulator of only the banks, we are thinking that is a bad idea. we need to see a broad financial system. we need to have the information about the broader economy and know what is going on across the country, not just in the great state of ne

ms. maloney of new york, mr. defazio of oregon, ms. kaptur of ohio and mr. mcdermott of washington. speaker pro tempore: without objection. under the speaker's announced policy of january 6, 2009, and under a previous order of the house, the following members are recognized for five minutes each. mr. al green of texas. for what purpose does the gentleman from from the northern mariana islands arise? mr. sablan: i ask unanimous consent that i claim the gentleman's time. the speaker pro tempore: without objection. mr. sablan: thank you, very much. the speaker pro tempore: the gentleman is recognized for five minutes. mr. sablan: thank you, mr. speaker. mr. speaker, when we open our hearts to our young people, give generously and support and encouragement, these young people consistently exceed our expectations. let me tell you of the story of a dedicated group of students from a tiny island in the western pacific ocean and the teachers who supported and encouraged them. because on april 20, those students, the high school concert band, exceeded any reasonable expectations and will be

ms. maloney. >> thank you to paul volcker, a great president of n as a regulator of the banking system, wel be able to see what happens and be able to make better decisions about how to address any potential risk to the broad system those kinds of products might pose. @@@@@@@ @ @ @ @ @ @ @ @ @ @ @ >r le, and i certainly have an open mind to that argument, but is an historic evidence -- isn't the empirical evidence kind of murky if you looked at the u.k., if you looked at japan and sure many. clearly they did decouple the two. -- japan and germany. clearly, they did decouple the two. can you please elaborate on the evidence that is out there that might be convincing to members of this committee'? >> it is interesting. as you point out, there was a decoupling in the central spanking function. i believe in all three the current trend is strongly towards giving back the central bank to supervisory authorities, and in europe, the european central bank is being made essentially the financial stability regulator for the continent. i think the perception in each of those countries was moving the c

ms. maloney. >> thank you to paul volcker, a great president of new york state, and we are proud of your contribution to our country and your public service. there's a great deal of concern about the proposal in the dodd bill in the senate regulatory reform proposal that limits the fed's banking supervision to banks that are larger than $50 billion. first of all, do you see a need to make a distinction between large and small banks? and i would specifically like to comment on the federal reserve's interest rates steady by the federal open market committee which met yesterday, comprised a federal probe -- federal reserve governors, the president of the new york fed, and on a rotating basis, the presidents of five of the regional reserve banks. does this have an impact on the fomc's activities, first mr. bernanke and then mr. volcker? >> if we of the regulator of only the banks, we are thinking that is a bad idea. we need to see a broad financial system. we need to have the information about the broader economy and know what is going on across the country, not just in the great state of ne

ms. ginny brown-waite of florida for today before 3:00 p.m., mrs. maloney of new york for today after 2:00 p.m. the speaker pro tempore: without objection, the requests are granted. for what purpose does the gentleman from kansas rise? >> mr. speaker, thank you, i ask unanimous consent to remove my name as a co-spon or of h.r. 1255. the speaker pro tempore: without objection. does the gentleman have another request? mr. moran: i ask unanimous consent that today following legislative business and any special orders heretofore entered into, the following members may be address the house, revise and extend their remarks and include therein extraneous material. mr. wolf, today, march 25, and march 26 for five minutes and mr. franks march 26 for five minutes. the speaker pro tempore: without objection. for what purpose does the gentleman from maryland rise? >> i ask unanimous consent that today following legislative business and any special orders heretofore entered into, the following members may be permitted to address the house forefive -- for five minutes, r