On the recordJune 30, 2010
Madam Speaker, I yield myself the balance of my time. I think it's pretty obvious that Republicans today have come down and debated the substance of this rule and the bill. The rule, as it relates to the conference report, is straightforward. It puts in order on the floor of the House of Representatives today a bill which will be a monstrous spending bill for financial institutions, $18 billion that will be passed on to consumers. It's all done for bigger government. This bill empowers the Federal Government not only to get larger, but it gives them raw power. It gives them the opportunity to be the decision-maker in literally all parts of financial services. I think that's a mistake. I think that the balances and the opportunities that we had had as we have spoken in the last few years, we should aim for safety and soundness, not for overbearing government rules and regulations. This bill, once again, is as much about the financial services industry as the health care bill was about health care. It's about diminishing the free enterprise system. It's about diminishing people who really should take the role and the responsibility for that which they do. And it's about creating a larger government that will encroach upon every single one of us and ultimately crush us. The Republican Party disagrees with this bill because we think that the time should be spent on this floor to encourage job creation, not to diminish job creation.…





