On the recordJune 7, 2011
when we are able to move the economic development bill, I will have a bipartisan amendment that will address the interchange issue in a way I think most Senators can support. I wish also to note that I appreciate Senator Durbin's passion on the issue--and with any number of issues we have in common--and I look forward to working with him again very soon. Most of the folks in this body know I am a farmer; that I come from the agricultural sector. It is important because, over the many years I have been able to be in agriculture, I have watched consolidation in agriculture, where fewer and fewer companies control more and more of the food supply. We call it consolidation. The same thing has occurred in our energy sector, where we have fewer and fewer companies, with less competition in the marketplace. And we are paying that price in both areas. We have seen enough consolidation in the financial area. Why is this important? It is important because the amendment I am going to offer-- the bipartisan amendment--will help so that we don't further consolidate the financial industry. I also come from rural America. We all know, as the Senator from Illinois pointed out, that we are coming out of a very difficult economic time. In fact, the Senator pointed out he voted for the bailout of the big banks because it was for jobs. I want the record to be clear that I did not vote for that TARP bailout, but I too am concerned about jobs.…
