On the recordNovember 9, 2023
Again, I thank the gentlewoman for her observations and concern because, obviously, the conclusion that she makes would be of concern to all of us. I simply suggest that this is not the proper place for us to give the analysis and assess the correctness of the assertion that has been made in terms of cost. We have experienced a time where a failure to deal with nonbanks cost this economy one of its deepest recessions since I have been in the Congress of the United States. I have no reason to believe one way or the other whether the gentlewoman's assertion is correct because I just don't know. She is a member of the Financial Services Committee, to my understanding, and if her assertion is correct, then I think a bipartisan bill ought to be brought to the floor and considered. However, I think at this juncture this amendment ought to be rejected. Mr. Chairman, I urge its defeat, and I yield back the balance of my time.
