Political Quotes

“I urge support for this amendment to ensure that the Commodities Futures Trading Commission can adequately regulate our financial markets and address some of the very practices that so seriously harmed our economy just a few years ago. This amendment modestly improves the onerous cost-benefit considerations included in this bill, a provision that would open the Commission up to expensive legal challenges. It does so by adding in language from the President's executive order on cost- benefit analysis that prohibits judicial review. The bill's sponsors cite this order as the model of good analysis and incorporate many provisions of that order in this legislation. However, the measure before us today inconsistently omits the order's prohibition on judicial review, thereby subjecting the CFTC's most cost-benefit considerations to increase litigation risk--risk that no other agency complying with the executive order has faced. My amendment would correct this oversight and prevent special interest groups from using the cost-benefit provision as a club to delay, weaken, or kill financial reform. My colleagues--Representative DelBene, Representative Gibson, and Representative Vargas--share my concerns and have proposed an amendment that would establish a heightened standard of judicial review. While I support this amendment, it does not go far enough, in my view, to fix the problem.…”