Political Quotes

“I did vote ``no.'' Although we did not have a rollcall vote, when you asked for a voice vote I said ``no'' largely because I think this bill causes some very significant concerns, at least for me and I hope some others in this country. I am very concerned about some parts of the banking industry in our country. But I pick up the newspaper and read about banks losing money under derivatives--something most people cannot even explain--but a kind of financial casino game, I worry about that. I worried when the S&L's were buying junk bonds, and I was on the floor of the House at that point and the House passed the legislation that prohibited S&L's from buying junk bonds again and I remember they had junk bonds and spent over $100 billion to get rid of them. I was concerned about that. I am concerned when I read about banks involved in trading derivatives and having speculative losses of substantial amounts of money.”