Bob Menendez: “I want to salute the ranking member [Mr. Oberstar] for his creative and market-oriented proposal. This amendment is…”

“I want to salute the ranking member [Mr. Oberstar] for his creative and market-oriented proposal. This amendment is precisely what should have been done in the committee process, an open discussion of the meaning and implication of the legislation. I am no enemy of deregulation, and believe all of us who are supporting Mr. Oberstar are of the same view. I personally wrote the New Jersey Telecommunications Act, which substantially deregulated the industry and modernized my State phone system into a national telecommunications leader. I have voted for similar proposals here in the House. I think there are constructive measures that will improve ocean transportation, but it cannot be a backroom deal. The Oberstar amendment has broken the code. Look at the bill. What does the term 'confidential agreement' mean? If we are deregulating this industry, why do we have to include authorization for confidential contracts? The gentleman from Minnesota [Mr. Oberstar] has it right. Secret deals. This bill is carteling in its purest form, secret deals, antitrust immunity and no Government oversight. Do we really think the small shipper has any chance in the face of this monopoly power?”