Political Quotes

“Mr. President, I just wish to briefly add to the discussion and thank both the chairman and Senator Carper and my good friend Senator Corker as well. We are breaking new ground. We are creating a new national Consumer Financial Protection Bureau. I share, I think, actually the goals of both Senator Corker and Senator Carper that the bureau ought to have a chance to enforce its rules on an orderly national basis. I know my good friend, Senator Corker, has a slightly different variation, but I think Senator Carper's amendment has struck that right balance: ensuring there are opportunities for Federal preemption but, at the same time, recognizing that the balance of the attorneys general role ought to be to focus on the regulations--regulations that it will have had an appropriate period to have been commented on by industry, to have gone through an orderly process, rather than simply what the initial draft would have had, which would have allowed the attorneys general to actually focus on the statute itself, that might have allowed them to run a little more without as many restraints. So I realize this is a new area. We are trying to strike a balance. I agree with the chairman that the Carper amendment strikes that right balance, and I look forward to supporting his amendment. I yield the floor. The PRESIDING OFFICER. The Senator from Tennessee.”