Do any of you know the answer to this: Has there ever been an estimate of what the losses would have been economy-wide had the government not backstopped the money market industry in 2008?
Bill Foster
The Public Record
Bill Foster is an American businessman and politician currently serving as the U.S. Representative for Illinois's 11th congressional district, a position he has held since 2013. A member of the Democratic Party, Foster has focused on issues such as science, technology, and economic development during his tenure in Congress. He has a background in physics and has worked in the private sector, including founding a successful technology company.
Just 5 years ago, American families lost $16 trillion in wealth in less than 2 years.
Since its inception in 2011, the CFPB has been a very effective advocate for consumers and taxpayers.
When we have seen in the last several years the $16 trillion drop in household net worth caused by a complete failure of the Republican fiscal, regulatory, and monetary policy replaced by an $18 trillion recovery, it is one of the most…
I demand a recorded vote. The Acting CHAIR. Pursuant to clause 6 of rule XVIII, further proceedings on the amendment offered by the gentleman from Illinois will be postponed. The Clerk will read. The Clerk read as follows: Advanced…
Mr. Leach, I guess, could you say a little bit more about the net job creation in an IPO versus an acquisition scenario?
I come from the point of view of someone who started a startup with $500 from his parents that is now $150 million a year...
I have an amendment at the desk. The Acting CHAIR. The Clerk will report the amendment. The Clerk read as follows: Page 26, line 12, after the dollar amount, insert ``(increased by $500,000,000)''. Page 29, line 21, after the dollar…
I would actually like to respond a little bit about the offset for this amendment. This amendment is offset by reducing the $7.7 billion budget for the NNSA nuclear weapons account by $500 million. This is a 6.5 percent reduction. I want…
Today I rise to speak out against the drastic cuts proposed to the SNAP program, a lifeline that millions of Americans rely on. The FARRM Bill being debated today would cut over $20 billion over 10 years from SNAP, a program that ensures…
But I am afraid that the dreams of a pure and undistorted world economy are not met by the realities due to the asymmetry from subsidized credit by our foreign creditors.
So my attitude is very much one of, we will put down our weapons when they put down theirs.
And so my question is, in addition to specific comments on that situation, how do you generally handle this type of tradeoff, to understand whether a given transaction actually nets out positive for the U.S. economy?
One impressive solution to the two fundamental questions of housing finance is the housing finance system of Denmark, as discussed in my written testimony and pointed out by Congressman Foster.
I was really, as I mentioned in my opening comments, surprised about the positive things said about the Danish system.
One of the things that makes it hard to compare mortgage systems across national boundaries is the very different loan-to-value limits that happen in different countries.
It is imperative that this Congress provide the agencies that are charged with policing the financial markets with the funding that they need.
I want to emphasize to my colleagues the importance of fully funding the SEC.
I just wanted to express my gratitude to Under Secretary Brainard for you making yourself available to me and my staff for a very good bipartisan meeting.
Today I introduced the National Fab Lab Network Act of 2013. I introduced this bill because America needs a well-trained workforce for advanced manufacturing. When I go home, people ask me, Where are the jobs? But when I talk to…
I urge you to reverse the devastating cuts to education and R&D that have been enacted by sequestration.
I urge the leadership of this committee to craft a budget that replaces the mindless cuts of the sequester with sensible investments.
By some estimates, the cuts from sequestration to R&D will result in a loss of 600,000 jobs over the next three years.
As this committee prepares a budget for fiscal year 2014, I urge you to reverse the devastating cuts to education and R&D that have been enacted by sequestration.





