Unfortunately, Dodd-Frank continued the long-term goal of many to essentially turn the banks into utilities backed by the government that regulators can control and use to fund the government and allocate resources to their favorite constituencies.
Criticism of Dodd-Frank's impact on banks and government control.
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Mr. Speaker, I yield myself the balance of my time. Indeed, Mr. Speaker, some would say the ranking member and I can't agree even on the time of day. I was told when this debate started that thunderstorms came over Washington, D.C., it was…
Mr. Speaker, I yield 1 minute to the gentleman from North Carolina (Mr. Pittenger), who is the vice-chairman of the Financial Services Subcommittee on Terrorism and Illicit Finance.
Frankly, Congress hasn't spoken on issues like this since 1930. We have just been frozen out of the process on an issue that can impact the entire world.
Mr. Speaker, I yield 2 minutes to the gentleman from Florida (Mr. Ross), the vice chairman of the Housing and Insurance Subcommittee of the Financial Services Committee and the true author of competitive flood insurance.
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