Spencer Bachus: “If there is validity in taking $3 billion, there's $3 billion over there that we can take from the GSEs and we can do it…”

The intent of Operation Choke Point may have carried a purpose that we would all agree with, and that is to prevent financial fraud.

I would simply recognize Mr. Petri's and Ms. Tsongas' contributions in helping Mr. Kilmer with this amendment--and there may be others. I want to express to the full committee chair our appreciation for supporting this amendment, and I…

However, my continued concern is that the program threatens to dry up legitimate sources of credit and financing.

My Democratic colleagues have said they want to wrap this up. So let me just simply say to you that this is having the effect of shutting down these companies, whether that was intended or not.