Political Quotes

“I thank the chairman for bringing this very important issue to the House floor. I am pleased to stand up in support of H.R. 3340, the Financial Stability Oversight Council Reform Act. I want to congratulate Congressman Tom Emmer of Minnesota for his tireless work on this bill to come up with a commonsense piece of regulation that helps create jobs in this country. Mr. Speaker, I want to set the Record straight. There are some folks in this Chamber who continue to blame the economic problems we have had over these past years specifically on the financial services industry. Well, let's be honest here. There were D.C. regulators here in this town who put tremendous pressure on the banks to lend money at zero percent down and zero percent interest to folks who they knew could not afford these loans. When they were unable to repay these loans, the real estate market collapsed and brought the economy with it. Mr. Speaker, every business in America, every industry, should be fairly and predictably regulated. However, when the regulations are so intense and so complicated and so smothering that it kills jobs, then it is our responsibility to make sure that we give our small businesses in this country relief. Mr. Speaker, I have been here for a little over a year and I realize there is a fourth branch of government. Now, we all know what the Constitution says. It is that Congress, the legislative branch, creates the laws.…”