Jeb Hensarling

I am very pleased now to yield 4 minutes to the gentleman from Illinois (Mr. Hultgren), the chief Republican sponsor of the Swaps Regulatory Improvement Act which, again, passed our committee on a strong bipartisan basis of 53-6.

I have no further speakers, Mr. Speaker, and I believe I have the right to close.

I am now pleased to yield 3 minutes to the gentlewoman from Missouri (Mrs. Wagner), the author of the Retail Investor Protection Act.

At this time, Mr. Speaker, I yield 2 minutes to the gentleman from South Carolina (Mr. Mulvaney).

I now yield 2 minutes to the gentleman from Virginia (Mr. Hurt), the vice chairman of the Financial Services Subcommittee on Capital Markets and GSEs.

I am now pleased to yield 3 minutes to the gentleman from New Jersey (Mr. Garrett), chairman of the Financial Services Subcommittee on Capital Markets and GSEs.

It is now my pleasure to yield 6 minutes to the gentlewoman from Missouri (Mrs. Wagner), the sponsor of the legislation and an outstanding freshman member of our committee who has led on this issue.

It is now my pleasure to yield 2 minutes to the gentleman from Minnesota (Mr. Kline), the distinguished chairman of the Committee on Education and the Workforce.

How many times do we have to be burned before we learn that government guarantees don't make markets safer; they make them more dangerous?

I am really angered actually, about forcing the American people once again to come and rescue yet another failed government-backed housing agency.

The debt ceiling is the law of the land until it is changed.

We still remain ready to negotiate.

The TRIA has provided a necessary service at nearly zero cost to the taxpayer.

The debate needs to be not just about what we do with TRIA, but in the future, can we have economies where the American taxpayers don't have to take on risks that other people don't want to take on?

The American taxpayers are furnishing free reinsurance for TRIA coverage in this country.

TRIA is not a taxpayer bailout. It is not a bailout of the insurance industry, but it is, in fact, the most taxpayer-friendly way to deal with the long-term costs associated with a terrorist attack.

While each bill differs slightly in form, it is of the utmost importance that TRIA is reauthorized quickly, cleanly, and for the long term.

I support reauthorizing TRIA, and I am encouraged by the proposals on the table to do so, in addition to the bill by Representative Capuano, which I have co-sponsored.

I strongly support the important work of the CFPB and Mr. Director, I want to congratulate you for the Bureau's impressive record of accomplishments for our Nation's consumers.

I appreciate the questions about the Qualified Mortgage rule, which I know is a focus of tremendous interest among Members here.

True consumer protection requires access to competitive, transparent, and innovative markets vigorously policed for force, fraud, and deception.

It seems to me we have gone from extremes here.

I am not sure I want my government steering people into a product that may not be right for them.

I haven't found anything we have agreed on yet, but I haven't lost hope. It may happen one day.

The PATH Act charts a course for doing so.