Bob Menendez

It is time to allow for an up-or-down vote on Richard Cordray.

Isn't it a fact that it was the failure to regulate big Wall Street banks and the derivatives market that caused the losses of millions of American jobs over the last several years?

I am very concerned that if the qualified residential mortgage definition being worked out... is not broad enough, it could hurt the housing market.

I would be happy to do so. I know we have a vote in 5 minutes, and I want the distinguished Senator from Illinois to have an opportunity to speak. Mr. McCAIN. These questions are for either Senator. Is it true that in this legislation…

The Senator, in my view, is right, considering that they both have veto power at the Security Council. It seems to me that they are not likely allies in helping us pursue this course. Mr. McCAIN. So then it really makes a more compelling…

I would be happy to yield. Mr. McCAIN. Is it the Senator's impression that action by the United Nations Security Council is pretty dim given the stated positions of Russia and China on this issue?

Does it matter to the SEC? Is there a greater ability to pursue, for example, under the single threshold that Toomey-Carper has for banks and nonbanks as well?

I think it is critical that small businesses have more access to capital and to create jobs and grow our economy.

Let me ask the other members of the panel, if we were to raise the threshold, how do we ensure that additional investors would be protected from fraud?

Finally, if I may, Mr. Chairman, I know you were just here just less than a month ago on an unrelated topic.

The clock is ticking. The published reports say we have about a year.

Everything that you say in your testimony undermines the credibility of your opposition to this amendment.

That original amendment had no waivers whatsoever. Maybe we should have allowed that to stand.

I am extremely disappointed. You all did not like the original amendment offered...

So the reality is, if our information is right and, you know, the universe that you have already reviewed, although maybe not as large as you would like to, shows that, in fact, there are lower loan defaults, it seems to me that we improve…

The reality is that, according to CBO, who does the scoring around here, loan limits will not cost the taxpayers one dime

An October 2010 Zogby poll of business leaders found that 77 percent of them believe that corporations should disclose all the direct and indirect political expenditures.

Well, finally, Mr. Chairman, as someone who supported and voted for the legislation, it seems to me that I have a different vision, and I think many of us share that vision, of what your mandate is.

Clearly, the fee is meant to ensure that the borrower is the one who bears the burden, not the entities.

We want to maximize the opportunity for people to be able to mitigate our losses, and in part, that means a robust housing market.

But if that answer you gave Senator Reed, that a robust housing market is ultimately going to place the taxpayers in a better position, why is it that you view so narrowly the ability to think a little bit outside of the box and help to…

The CBO says keeping the limits would not cost taxpayers one dime because the cost of the defaults are paid by the premium loan fee of 15 basis points per year from the loans that benefit from this.

Do you not agree--this issue of loan limits was raised, something that I and Senator Isakson have been pursuing and that 60 members of the Senate supported--CBO says keeping the loan limits at the higher rate that had expired will not cost…

Under the Emergency Economic Stabilization Act of 2008, you have a statutory responsibility to, quote, 'implement a plan that seeks to maximize assistance for homeowners'--maximize assistance for homeowners--'and use its authority to…

How do you define conserve and preserve? Give me your definition of that.