John Yarmuth: “I yield myself such time as I may consume. Mr. Speaker, I certainly appreciate Chairman Ryan's comments and agree with…”

“I yield myself such time as I may consume. Mr. Speaker, I certainly appreciate Chairman Ryan's comments and agree with many of them. I think one of the points that is important to consider here though is, while he mentions one case involving FHA, there are a number of loan programs throughout the government which don't necessarily fall into that same category; and many of them are very, very critical to our Nation. If you talk about water supply loans, water system loans, there are many loan programs that affect rural America. In addition to the student loans, we have, again, the Advanced Technology Vehicle Manufacturing Loan Program. There are many across the board, and what this legislation would do would essentially treat them all as exactly the same, and we know that that is not necessarily necessary. Under the TARP program--TARP was actually accounted for in the budget using the fair value standard that is proposed in this legislation, so we actually have a history of treating some loan programs differently than others. What we would say is: Why don't we take the time to have hearings on this proposal to actually consider the impact of an across-the-board standard on a variety of different kinds of loan programs? This is why we keep saying this is a bill that is not ready for prime time.…”