Political Quotes

“Thank you very much. I rise to oppose the closed rule on H.R. 1256. H.R. 1256 really has no business being hidden in this bill at all. It is another attempt to keep the debate from taking place so that people will know what is happening when we are trying to have a regulatory regime that will protect us from having to bail out big institutions. We are simply saying that we can't allow our financial institutions to have subsidiaries overseas that are doing business and trading and putting us at risk. Every time they get involved in a trade in which they don't have comparable rules in that country, what we are doing is putting this country at risk that we are going to have to bail out a big financial institution because the harm will come right back to the parent company. We, in Dodd-Frank, have said that we must have comparable rules, that we must have regulatory regimes that are comparable to ours in order to do business and to do trading in order to protect against big institutions failing. So now we have this H.R. 1256 that would undo all of that and drag it back into the shadows, this derivatives trading, and put us all at risk. We can't even debate it. We can't even have an amendment because, again, they're trying to kill Dodd-Frank.”