the ceo of ne community federal credit union. since 1988, she has been the ceo of northwest community federal credit union. under her watch, the credit union group to over 1600 members. it has become the national model for institutions seeking to provide financial education and banking services to the low- income communities. last but not least, we have our conditional lender represented here by wells fargo. mark cyrus is the senior fda banker for the region -- the senior sba banker. he held businesses choose the best loans for the growing business and focus on a comprehensive understanding of their goals for their business. mark is responsible for helping entrepreneurs with sba loans every step of the way. i would like each of you to speak a little bit about what your organization does and, more importantly, address the audience here and let them know what your looking for when you are hoping to fund their loan. we will start with you, mark. >> absolutely. thank you. i want to thank speaker pelosi for putting this together. i want to thank all of the of for coming out on a smell it -- snowy san francisco date. [laughter] we've been told we shou

the healthcare law, they want exemptions. congress out, labor unions likely out, other groups getting a pass or credit. there's a pattern here. so the law is substantially changing before our eyes here. what happened? >> look, congress did not authorize one of these changes. the obama administration decided to make them. this is more vladimir putin and russia than it is american democracy. we're either a nation of laws or a nation of men, and barack bark obama is showing we're a nation of men who can change the laws as he sees fit without congressional approval. >> neil: looking around -- a very good point. they flip it around elm that's what we did with medicare and medicaid, and i always turn around and say, that is my point. when we start this, willy-nilly change this in the case of medicare, what started as $566 million program with lyndon johnson in the mid-are 60s, is now a trillion dollar practice with a lot of holes in it, and when you set to sea, you see a lot more problems with the ship, and we're in deep ship here. so what -- >> keep in mind it was the medicare medicaid changes those had cong

the benefit of group purchasing power. address medical malpractice. allow people have to a tax credit to buy insurance of their choice. >> in early september you filed legislation for the unions and you opposed it because the unions who supported obamacare b suddenly want out. where does your bill stand? >> it's been filed. we have cosponsors but it hasn't gone anywhere. we have democrats in control in the senate. but the unions are unhappy with this as well. they are expressing that. asking for special exemptions. they want to double dip. they want favorable tax treatment by being an employer provided plan and they are multi employer plans but they also want the subsidies available now under obamacare. basicalxluáiu get a carve-out for them and for their members. you can't do that. >> that seems unfair to a loti=f people. but congress has a carve-out because congress gets subsidies. what about that? >> they shouldn't. everybody ought to be treated the same. >> that's the irony of it. the whole idea is everyone was to be a part of this and contribute and that was going to pool the money to lower the cost. but then everybody is running for the hills, getting special deals and

the tax break? >> they're concerned about this for number of reasons. when you speak about 1934 you speak about era where credit unions were created for two purposes, to serve a tight 19 groupple of modest means. credit unions have grown far beyond that mission. in fact it is very difficult to see what their mission is right now and why the tax exemption is still needed. adam: credit unions actually, with only what, 6% of the nation's deposits in credit union accounts, they do offer their clients cheaper interest rates than banks and just, i know part of the discussion is also about tax exemptions. there was a study by the st. louis federal reserve bank which they said several thousand small and medium-sized banks are organized for tax purposes as subchapter-s corporations and similarly exempt from federal income taxes. what is the problem? >> there is quite a difference between the subchapter-s banks which are 2000 of those and having full tax exemption which 6900 or 7,000 credit unions enjoy. so that is the problem. they are trying to compare what really is not apples and apples. sort of apples and watermelons because if you have 2,000 subs banks that have certain tax con

the breakup of the union before the civil war. we're at a point where will this congress allow a small group dedicated -- i give them credit for working hard -- but a small group of dedicated ideologically driven individuals are able to dictate to the senate and the house what our course of action is going to be? we just can't give into that. so i call upon my friends in the republican party who are moderates -- and there are a lot of them, in my own state, around the country. they're conservative but they are responsible conservatives. they may look at democrats and say you want to go too fast one way. we might want to go a little bit slower that way. or maybe we want to go in a slightly different direction, so let's get together and work it out and see which way we go. that's being a responsible conservative or responsible liberal too, i would say. i call upon them to disabuse themselves of this idea that somehow they have to march in lock step with this small band of tea party, call them what you will. right wing ideologues, you can use whatever adjectives you want. but they must disabuse themselves of the idea that they have to so

the business group. unions are looking for new members, mr. donahue says, while businesses need both laborers and highly skilled workers, close quote. now, this is a frank statement, i give mr. donahue credit. he lays it right out here. if you want to know the forces at work here, unions believe that if we legalize people and bring in more, they will have a better chance of adding to union members. quote -- "unions are looking for new members, said mr. donahue. that's their interest." they have forgotten the interest of their workers today, the ones that are working and having wages decline and are being laid off, but mr. donahue goes on to say -- "while businesses need both laborers and highly skilled workers." now, i'm going to say we can bring in new workers, and under the current guest worker program and our current immigration program, and we can deal compassionately with people who have been here a long time. we can do that. but not with the legislation that came out of the senate. donahue says -- "the house doesn't need to pass a comprehensive reform." listen to this, colleagues." the house doesn't need to pass a big comprehensive reform, suggesting problems could be fixed with smal

from them state institution, state association level, individual institution level, the icba, and credit union groups, and also our advisory counsel. it's something that i mean for this agency to be able to point to as a success not a failure. i appreciate your input to help this. >> please hear us. it's universal. maybe quickly on the qm. i have a sense you are had gone back and done a retrospective analysis how many loans made in the last few years would have been enabled or allowed under the qm. i'm actually more curious, especially given the decision on qrm as to whether or not you have gone back and done any analysis retrospectively on how many loans would ?rot been allowed in the years of the a runup to the crater, and whether or not you think that would have helped us materially help us avoid bursting the bubble by having fewer people place in loan for which they probably shouldn't have been. >> yeah. so two points. first, your question is, you know, how can we don't monitor how the mortgage market may be affect bid the rule and make sure we're not having the affect that the kind mr. chairman