If this amendment is to have any meaningful effect, if this bill is to have any meaningful effect, and people who we have not guaranteed if this bill passes that they will be compensated will be subjected to the whims of the appropriation process or nonappropriation. It is like we have got these naughty Federal Government agencies over there that are somehow separate and part from the Federal Government, itself, and the laws that the Congress passes who are out there acting as renegades and we are looking for somebody to blame, and trying to tell our constituents that somehow we are compensating them and protecting them against these naughty Federal Government agencies and hiding our head when really the agencies and the rules that they are applying and promulgating that result in these reductions in value are pursuant to the laws we passed here in this body and this is all a charade designed to make it appear that it is not us that is causing the problem by passing the Endangered Species Act or the Clean Water Act, but it is some Federal Government agency over there that is separate from us over here in Congress and they ought to go over there and get their judgment satisfied.
Melvin Watt: “If this amendment is to have any meaningful effect, if this bill is to have any meaningful effect, and people who we…”
Editor's note · Context
Discussing the implications of a bill related to government agency judgments and compensation.
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More from Melvin Watt
I took a lot of heat for reinstating it. But it was a statutory mandate, and I did not see a reason not to follow the statute.
I thank the gentleman for yielding time. Mr. Chairman, I want to rise not so much in opposition to the manager's amendment, but in opposition to the bill and so that we can try to make sure that people understand what it is that they are…
I would certainly emphasize that if anybody here has the notion that I believe that I am above the law, they should dissuade themselves of that notion.
unequivocally . . . it is the role of Congress, not FHFA, to make the decisions that chart the path out of conservatorship and to the future housing finance system.





