Debbie Dingell: “Matters of the sort that you see on the poster in the well. You are looking there at, I would say, probably 40 or 50…”

“Matters of the sort that you see on the poster in the well. You are looking there at, I would say, probably 40 or 50 cities, States, and local units of government as well as possibly a number of State governments where they would be compelled to sue now on matters which might involve derivatives under the new law as opposed to the old law. The amendment permits them to sue under the old law for a period of 3 years. That is because the derivatives situation is growing and expanding, and every day we find some new situation which requires, quite frankly, great concern. For example, the Barings Bank which just collapsed, Orange County, other places as listed on the chart that my good friend has just shown to the House.”