Joe Barton: “I would take mild umbrage to the statement of my good friend, the gentleman from Massachusetts (Mr. Markey), that this…”

“I would take mild umbrage to the statement of my good friend, the gentleman from Massachusetts (Mr. Markey), that this is an odoriferous piece of legislation. I think it is sweet smelling like a rose. But to the extent that it has offended his olfactory organs, let me simply say it is less odious than it was because of his efforts; and I want to commend him on those efforts. There has been some discussion in the debate about a subsidy for the nuclear industry. Price-Anderson is nothing more than a last-resort indemnification of the nuclear power industry. In a similar fashion, we have the Federal Deposit Insurance Corporation which guarantee $100,000 for every savings account and every bank account in this country. There is private insurance that has to kick in before that, but as a last resort the FDIC guarantees every depositor's account up to $100,000. I would also point out the Federal Housing Administration has a home mortgage program. Many first-time buyers get their mortgage through an FHA mortgage, which again guarantees that mortgage.”