I would be glad to clarify the nature of trust companies subject to the moratorium under section 603(a). The moratorium applies to an institution that is directly or indirectly owned or controlled by a commercial firm that functions solely…

I thank my friend. We are about to wrap up this long journey, now going back a long ways. Let me mention a couple things. First of all, yesterday I included the names of the Senate Banking Committee staff who have made such a difference in…

Yes, I do not believe that the council should decide to designate an insurer simply based on whether the insurer would meet bank capital requirements.

I agree with the Chairman's assessment. There is no authority to set margin on end users, only major swap participants and swap dealers. It is also the intent of this bill to distinguish between commercial end users hedging their risk and…

I thank the Senator. As the Senator knows, his amendment received strong bipartisan support on the Senate floor and passed by a vote of 80 to 18. It was therefore a Senate priority to retain his provision in our negotiations with the House…

I thank Senator Merkley. I guess there are four new Members of the Senate serving on the Banking Committee. Senator Merkley, Senator Warner, Senator Tester, and Senator Bennet are all new Members of the Senate from their respective States…

I urge my colleagues to waive the point of order. We came up with an alternative offset in the conference committee, much at the insistence--and I thanked him for that--of Senator Brown of Massachusetts, looking for a better offset than…

The purpose of the Volcker rule is to eliminate excessive risk taking activities by banks and their affiliates while at the same time preserving safe, sound investment activities that serve the public interest. It prohibits proprietary…

The Senator from Massachusetts is correct. Size and involvement in providing credit or liquidity alone should not be determining factors. The Banking Committee intends that only a limited number of high-risk, nonbank financial companies…

Unfortunately, this legislation does little, if anything--to tackle the tough problems facing the financial sector, nor does it institute real, meaningful and comprehensive reform. This bill is simply an abysmal failure and serves as yet…

I am not going to use the time between now and 11 a.m. when we are going to vote on the cloture motion. We had 80 hearings held over 2 years, with countless efforts to reach out and bring in people. One can make a lot of accusations about…

I am very grateful to Senator Shaheen and Senator Snowe and others who supported their efforts to strengthen the role of our community banks that play such a critical role. As the Senator from New Hampshire pointed out, they were never a…

In fact, it is not only repaying 100 percent but with interest. There is an interest requirement, that if we borrow from the taxpayers in order to wind down substantially risky firms, then not only do you get paid back, but the interest on…

I thank my colleague from Delaware. He highlighted the difficulty in passing legislation. There are those who think it goes too far and those who think it does not go far enough. We do not write a bill on our own. There are 100 of us in…

lastly, I think it is worth noting that in all the analysis that we did to root out the cause of the crisis, it was not the American people who were at fault. Their prosperity was built on hard work, entrepreneurship, and creativity. Those…

I want to spend a couple of minutes, a few minutes this evening, if I can, talking about the Wall Street reform, the financial reform bill. I want to begin by thanking the Presiding Officer who, while not a member of the committee, played…

I just want to compliment our colleague from Oregon--as well as other members of the committee--for his work on this historic piece of legislation. This was a long time in putting together a comprehensive, complicated piece of legislation…

We thank you, and Senator Cardin, thank you very much for coming by this morning.

the ICBA memorandum highlights all of the things done in this bill that warrant the headline in the Wall Street Journal about how the overwhelming majority of the 8,000 small banks in this country do well under this bill. I thank the ICBA…

obviously the coincidence of having the three nominees here this morning and at some point later today we will be voting on the financial regulatory reform bill.

The final result depends on the votes of my colleagues and whether they decide it is better for us to move forward with these reforms as we have crafted them or to do nothing, in effect, and say that after all this time and effort, we have…

I wish to begin this evening, as I will try to repeat during the next 2 days, with my deep appreciation to the majority leader, Harry Reid. While there were a lot of people involved in this process over the last several years who have…

I rise today in support of reauthorization of the National All Schedules Prescription Electronic Drug Reporting Act, NASPER, program critical to combating the abuse of prescription drugs in our Nation. I am proud to once again join my…

I rise today to reintroduce legislation to jump-start the chances for success of low-income children entering school. Today, I am introducing the Sandy Feldman Kindergarten Plus Act of 2010. The Kindergarten Plus Act will provide children…

I rise this afternoon to spend a few minutes to talk about a most important piece of legislation facing this body and, more importantly, our country, and that is the Wall Street reform bill.