Political Quotes

“I appreciate my colleague from South Carolina coming down to talk about his important tool for U.S. manufacturers and why it is important in his State and why we need to get on to the business of passing this House legislation that was a compromise that involved many people and, as my colleague from South Carolina stated, a very robust vote out of the House of Representatives. I also wish to say a few words about my colleague's amendment, Senator Corker. I will trust what my colleague from South Carolina says, that the amendment may be seen as a reform of the system, well intended, but I can tell you, it will have very adverse effects. The Corker amendment basically is calling for a 10-percent capital ratio requirement. It is not based on any fact or reason. The bank has had a default rate of less than 2 percent--1.5 percent. So raising the reserve ratio would have a very adverse effect on the bank itself, and it would quadruple the reserves and basically cause problems with the bank and how it is leveraged. If this is an issue about reform, there are many reforms in the underlying bill. To the provision that would say you would have to verify, if you are an individual business, that you can't get financing, I have read the Senator's amendment. I am not sure how you would prove that. It is not clear from the legislation. Does that mean you would have to survey every time the ex-im program was implemented for a business?…”