On the recordJune 8, 2011
I couldn't agree more. It is amazing that we passed this 2,400-page bill a year ago, and on all the tough decisions, we deferred to the regulators. The regulators are now creating all kinds of rules because we knew they had some wisdom we didn't have. Yet, in this case, every single regulator involved is telling us that the way the Durbin amendment was written, we are going to damage the community banks and credit unions and that it won't work. So it is amazing that in this case where the very people who regulate tell us to please change this, it won't work, we are saying no, we are not going to; this is going to benefit Wall Street. That is not the case. This amendment puts the Durbin amendment in the middle of the road where it needs to be, and I hope everyone will support it. The PRESIDING OFFICER. The Senator from Illinois.
