On the recordMay 6, 2010
Mr. President, as we have watched the debate the last 6 days on the financial regulation reform bill, I thought it would be interesting just to raise a few questions. The Congress--both the House and the Senate--created what was called the Financial Inquiry Commission. As a matter of fact, they had a meeting today. The purpose of that Commission--that will turn in their report in December of this year--was to take a thorough and complete look at what happened to us in 2008--the causes, the regulatory failures, the poor incentives--and then make recommendations to the Congress on what we should do. The question I have for my colleagues is, we have a bill on the floor that has given no credence to the Commission we created, and we are actually, according to the majority leader, going to finish this bill next week without the benefit of that Commission's inquiry. So a couple questions I would ask are, No. 1: Why? Why are we doing that? And, No. 2--by the way, the people on that Commission are learned people with great exposure and great experience in the areas of which we are discussing--Why are we allowing the Commission to continue spending money if we are not going to pay any attention to them? Why don't we just end the Commission, since we have obviously decided what they are going to have to give to us is not of value as we make the decision about what we need to change? I thought that is what we had the Commission for.…





