Jeb Hensarling: “I want to--I guess to put it civilly-- gently oppose the amendment from the gentleman from Florida. I think the…”

“I want to--I guess to put it civilly-- gently oppose the amendment from the gentleman from Florida. I think the gentleman from Florida does make some good points. These Federal Reserve Districts, in some respects, are anachronistic. They were derived from our early 20th century history. I do believe that it is a subject that needs to be looked at. I am just not prepared to say today that the gentleman has necessarily gotten it right. There is probably something very humorous today about siting a Federal Reserve Bank in the same city as Disney World. I will refrain from making any such humorous references. But, again, I think the gentleman makes a good point. I would like this issue to go through regular order. I believe it is a matter that Chairman Huizenga and the Monetary Policy and Trade Subcommittee of our full committee will be taking a look at: Are these appropriate cities for the Federal Reserve Banks to be sited? So, again, I thank the gentleman for bringing the matter to the House's attention, I thank him for bringing it to my attention, but I am not prepared to say that San Francisco, L.A., or Orlando are necessarily the places that Federal Reserve Banks ought to end up, without going through regular order. So I want to look at the matter, but I would otherwise encourage Members at this time to reject the amendment of the gentleman from Florida. I would ask the House to reject the amendment at this time. Mr.…”