Maxine Waters

In closing, this bill adds duplicative new rules. SEC is already held to account on cost-benefit analysis. Proxy access was overturned. The bill opened CFTC up to new industry lawsuits. I would ask for an ``aye'' vote on my amendment. I…

During the vote for H.R. 459, the Federal Reserve Transparency Act, I voted ``yes'' for this legislation. This was not my intent. I intended to vote ``no.'' I strongly believe that the Federal Reserve should remain an independent central…

Ms. Waters. You do not have to tell everybody.

I think we need more than we have been getting over the last years and I think this makes me feel good about my vote in support of Dodd-Frank.

Let me just segue into something that perhaps you had not anticipated. Out in California, we have a number of cities that are filing bankruptcy, and a lot of this has to do with the housing crisis and the problems that they have.

As I understand it, the New York Fed may not regulate primary dealers, but they do set out business standards and technical requirements for primary dealers, and they can fire a primary dealer at any time. Are any going to be fired, do you…

That is why I have been advocating for the swift implementation of the Wall Street reform law, strong enforcement of existing law, and for adequate funding for our regulators.

The scandals still keep coming, and public trust in the integrity of the financial system, I think is at an end.

I just feel really strange about community banks being roped into these antics of my friends on the opposite side of the aisle.

We should be concerned about MF Global. We should be concerned about the Bickwell in London and the proprietary trading.

And I don't think we need to go into what happened during the crisis and what caused the crisis.

Dodd-Frank was a tremendous effort to try and deal with this crisis that was created.

The scope of the IP theft in China imposes massive harm on U.S. companies and the U.S. economy.

I'm really looking for substantial public policy.

Losses to IP-intensive industries from IP infringement in China was estimated at about $48 billion in 2009.

I have been very concerned with the parallel effort going on at the OCC and the Federal Reserve under their mortgage servicing consent order process.

The major mortgage servicers at that time--at that same hearing--downplayed all of the allegations being made.

One of the things that I have noted about this panel and this issues is that we have advocates, we have the business community all coming together to talk about the need for rental housing.

A lot of people are watching to see what is happening with this widely announced task force that is supposed to do all of these investigations and bring about some justice for many of these homeowners

So, are you going to proceed with some investigating that is going to lead to some litigation, or are you going to continue to work in ways that will allow those who are being accused to 'neither admit nor deny' and just keep settling and…

What is happening with the executive director? Do we have one coming soon?

I believe that it is important for the SEC to litigate some of these cases under the umbrella of this task force, given the commitment to justice and the promises that were made about this task force when the President made his State of…

I led about 40 Members of Congress in writing to you and the other co-chairs of the Residential Mortgage-Backed Securities Working Group about my concerns that this important task force was stalled.

Thank you very much, Mr. Chairman, for holding this important hearing today.

Last November, when Judge Rakoff rejected a negotiated settlement between the Securities and Exchange Commission and Citigroup, it captured the attention of the public and really focused us, in Congress, on just how frequently our…