Spencer Bachus

I doubt that one rule--it may bring down all of the community banks, it may bring down all of the insurance companies.

I think they're there to serve the banks and everyone else, but you took that out of context.

Solving this problem, I think, is absolutely critical for taxpayers, for current and future homeowners, and for our economy as a whole.

I particularly would like to hear your take on the legislation on FHA reform that has been presented by the Republican Majority.

A bailout to the FHA is something that would be intolerable to the American people and certainly to this Congress.

I think we see a major red flag here with the decline in the capital ratio.

We have passed at least six or seven measures which should enable small businesses to raise capital.

I think one thing that we all feel great about America; America is a country of entrepreneurs.

In fact, 70 something percent of your small businesses say that given additional capital, they would hire people today.

Our budget continues the policy of providing the minority a full one-third of both funding and staff slots allocated to the committee.

The Congress has picked them up in a bipartisan way, and most of them have passed with over 400 votes.

We will continue to be cautious in our spending and in our staffing, and although it will be tight, we anticipate we will be able to operate given the 6.4 percent additional reduction.

At this time I would like to yield such time as he may consume to the gentleman from Arizona (Mr. Schweikert), the main sponsor of this bill.

I thank the gentleman from Michigan. At this time I would like to yield 1\1/2\ minutes to the gentleman from Michigan (Mr. Huizenga).

At this time I would like to yield 1\1/2\ minutes to the subcommittee chair, Mrs. Capito from West Virginia, to speak in favor of the bill.

Thank you, Mr. Speaker. At this time I would like to yield 2 minutes to the gentleman from Arkansas (Mr. Womack), an original cosponsor of the legislation.

I absolutely agree with that, Mr. Secretary. But that $5 disclosure was a pretty honest up-front disclosure.

I think what we found is that there were legal requirements that weren't complied with on many occasions.

I never voted for a stand-alone consumer protection financial bill and I never voted against it because it was never offered. What was offered was a 2,400-page extravaganza which hires about 10,000 new Federal employees to enforce rules…

I reclaim my time. What the gentleman said is, yes, that's what Elizabeth Warren proposed. Then he said, yes, that's what I introduced. Then he said, but I decided at some point that we would rather have an unaccountable czar because we…

I will yield to the gentleman to just answer this question: Was a bipartisan commission proposed by Elizabeth Warren? That's number one. Then you can respond to it or ask me a question. My number one question: Did she propose a bipartisan…

I think the gentleman from Illinois was arguing on the last amendment, not this amendment. If the Members will take everything he said, transfer it to the amendment before, it would be appropriate. But I disagree with his argument.

I rise to claim time in opposition, although I am not opposed to the amendment. The Acting CHAIR. Without objection, the gentleman from Alabama is recognized for 5 minutes. There was no objection.

I appreciate the remarks of the gentleman from Illinois. I believe this is a noncontroversial amendment. It will encourage local governments to undertake repairs and remedial efforts. And I believe it is a fair, equitable change in the…

We are not going to be able to revive our economy until we fix the housing market.