Political Quotes

“I thank Ranking Member Waters for yielding. I want to begin by recognizing the good work of the ranking member and the chairman and their staffs in compiling this capital formation package. I want to compliment the legislative skill shown by the ranking member and her staff in securing minority bills in this package, which I recognize involved a lot of give and take. We are a long ways from where this Chamber was a little over 13 months ago when we voted in a very partisan manner on the Financial CHOICE Act. I am proud to support this package which contains a number of priorities which I supported in committee and on the floor. I worked on two of these bills with my colleagues, Congressmen Hill and Hultgren. While I know that there are many others who contributed to this package, I want to thank in particular Katelynn Bradley, Katy Strohmaier, and Lisa Peto of the ranking member's staff for helping draft these amendments that led to unanimous support for these two bills in committee. First, the Options Markets Stability Act would direct the banking regulators to write rules to provide far more accurate circulations of counterparty credit risk for options and derivatives. Under the current exposure method used today, banks that centrally clear trades today on behalf of their clients must hold capital against the total notional value of any positions without regard for the way hedges offset risk.…”