On the recordApril 13, 2018
I thank the chairman for yielding time to me. Mr. Speaker, I want to congratulate Mr. Hill on putting together such a great bill, the Volcker Rule Regulatory Harmonization Act, a bill that you might not know from this conversation has wide bipartisan support in our committee, which has a lot of different views, left and right. It passed 50-10--passed 50-10. I want to talk about the Volcker rule in a second, but my good friend across the aisle--I call her a friend--is talking about big banks and all the bad things they are doing. Listen, when banks do well, our communities do well. When banks don't do well, we see crises spread across America, and people get hurt. When we talk about some of the biggest banks and making sure they have strong and stiff regulation, I would agree with the ranking member; but when we talk about their stock prices going up, we have got to ask: Who owns J.P. Morgan? Who owns Wells Fargo? Who owns the biggest banks in America? The people who President Trump had on his stage yesterday in the Rose Garden: It is truck drivers. It is the Wisconsin teachers. It is the people who work across this country who put money in their 401(k)s that own all of these stocks. And when those stock prices rise, so, too, do the values of the 401(k)s, because they own those American businesses.…
