Barney Frank

If the gentlewoman would yield. The answer is a resounding yes. And I certainly have been following her leadership in trying to make sure that these programs do more than many of them have done. So the answer to her question is yes…

If the gentleman will yield again, yes, he is exactly right. And just to sum it up, we want regulated some activities and not regulated other activities when you have a hybrid kind of situation, and what the gentleman has described is how…

If the gentleman would yield, he's completely correct. The Federal Reserve has the mandate under this, which originated in the Senate, to write those rules. We intend to make sure those rules protect a number of things: smaller financial…

I don't understand the purpose of giving such a partial history. He neglects to mention in 2007 when the Democrats took the majority and I became chairman, we passed the bill that he couldn't get passed in 2005, because we worked with…

The fact is that it was a Republican House that passed the bill the gentleman is denouncing, and I don't know why he keeps mentioning history and leaving that out until he has to be reminded. He did offer an amendment. He was…

If the gentleman would yield to me, he has been a leader in this important area, and he is a careful lawyer and understands that just saving a principle isn't enough. You've got to make sure it is carried out. Dealing with a conflict of…

If the gentleman would yield to me, I agree. As the gentleman knows, our bill does give the SEC the power we expect them to use to impose greater fiduciary responsibilities on these people. The consumer protection bureau will be a very…

I thank the gentleman, and I commend him for paying attention to a very specific but very important point. He is absolutely right. We have no intention here of disturbing the well-run State insurance regime. We respect and honor that form…

This legislation will preserve that tool.

We have the Consumer Federation, the Center for Responsible Lending, the people who have distinguished themselves by being opposed to sub-prime lending when others in this Chamber didn't want any restriction, and the Realtors and the home…

The statement that the Senate bill includes Elizabeth Warren is breathtaking. I do not believe the Senate bill refers to Elizabeth Warren.

Well, the gentleman is wrong about that because, yes, depositors are different than investors and depositors are insured, but we have deposit insurance. If you on the other side generally believe this, Mr. Speaker, they would provide…

I would like to yield to any of my Republican colleagues who will tell me why during this process they never moved to require bankruptcy as the way of dealing with failing banks. If bankruptcy is the only way to do it, why have the…

The reason we talk about the history is very simple: Every dollar that is lost and is about to be lost was lost because there was a delay in reform. The losses are not resulting from current operations. Secretary Donovan said that before…

I just want to talk about the past that the gentleman from Illinois is so desperate to cover up. The House voted on a bill that would have limited compensation to Fannie Mae and Freddie Mac executives a year ago. It was not on other…

But the fact is that it's not losing money--whether it's persuasive or not, the fact is uncontested that it's not losing money. The CBO talks about past debt.

I support President Obama's efforts to save money in the space program. Frankly, when people tell me that we have got a serious debt crisis but they're willing to commit hundreds of billions of dollars to send a human being to Mars so he…

I hope by next year we will have abolished Fannie and Freddie.

We have passed legislation in the committee I chair through the House to restrict bad subprime lending, to begin the process of controlling derivatives, to protect consumers, to limit credit card abuses.

I do not accept money, stopped accepting money -- once the TARP came, I cut off accepting any money from the banks that were TARP recipients.

It can't erase the record of irresponsibility, poor judgment and abuse of consumers that too many of the big banks have run up.

Well, I would like to get them to pay the money back.

We know that, unfortunately, there's been a de facto amendment to the Constitution, so you need 60 votes to pass anything.

We're going to come up with a bill -- we're going to have a bill next week to regulate their charging people overdraft fees.

If that was the -- the best you could do, I could go for that, for this reason.