Political Quotes

“Mr. President, this is a second-degree amendment to the Landrieu-Isakson amendment. It is not a competing amendment; it is an amendment to add additional provisions. I support the material in the Landrieu-Isakson amendment, which deals with the home mortgage market. This amendment has further provisions in the same section of the bill to deal with risk-retention issues relating to the commercial real estate market and other asset classes. According to market analysts and financial regulators, the provisions aimed at the securitized credit market in this bill will undoubtedly impact access to credit for millions of American consumers and businesses. These issues--such as ``risk retention''--are very complicated. The reforms are aimed at the ``residential and subprime'' market, and I am quite concerned that have not been carefully examined for all markets. Additionally, they are have not been reviewed in the context of other moving parts outside the bill, such as changing accounting standards, capital requirements, other regulatory mandates, etc. When combined, these significant changes create a huge amount of ``uncertainty'' in the market, which today serves one of the greatest impediments to new and private lending and investing. The stakes are high.…”