Ranking member of the Financial Services committee, Maxine Waters, another member of the committee, mr. Brad sherman of california, and congressman gonzales from texas, a new member of the committee. As some of you may recall, on the night of thursday, september 18, 2008, chairman of the fed ben bernanke said that unless we act immediately, we will not have an economy by monday. This was thursday night. The unchecked recklessness of wall street created the worst economic catastrophe in america since the great depression. Millions of americans lost their jobs, their homes, their savings. Many families and communities still bear the scars. The president wants to take us right back to that crisis. Instead of fighting for hardworking families as he promised in the campaign, the president and his billionaire cabinet have abandoned main street to enable wall streets corrosive profiteering of the banks on the back of hardworking americans. This administration has unleashed a wall street first agenda to pad the pockets of their wall street friends. An analysis of the wall street journal today finds that the president s orders will lead to a 100 billion windfall to the six biggest u. S. Banks. A 100 billion windfall. The president has moved to expose hardworking americans to unfair, deceptive, and predatory practices. Perpetuating a massive con on those who thought he would stand up for them against the powerful interests. Remember what he said in the campaign . The president is undermining the Financial Security of working families while there is no transparency about how his own businesses would benefit from his new executive orders. With doddfrank, democrats enacted the strongest Consumer Financial protection in history. With the Retirement Savings rule, also known as the fiduciary rule, we protected our seniors and strengthened the middle class and their investments. Democrats will continue to fight for the jobs, wages and Retirement Security of hardworking families across america. Last night was the super bowl. If we had a scorecard we would say, overturn doddfrank and score one for wall street. Overturn the fiduciary rule, score one for wall street. Eliminate the Consumer FinancialProtection Bureau, score one for wall street. The list goes on and on. They want they and the republicans in congress who have said theyre going to move to overturn doddfrank are going to take us right back to where we were that night when the chairman of the fed said if we dont act immediately and when we took the bill to the floor to act immediately, republicans by and large voted against it. Because they said, we dont believe in intervention. Thats why we didnt intervene to prevent this from happening with regulation and supervision of wall street. So when the time came, they voted no because they considered it an intervention. And that is what they want to do all over again. A champion in this fight, then and now, has been our distinguished, knowledgeable, informed, brilliant and Ranking Member who is there for american taxpayers, there for americas working families, there for Retail Investors, congresswoman Maxine Waters of california. Ms. Waters thank you. I would like to thank our leader, nancy pelosi, for the continuing fight that she has led with. Not only in our committee, helping us to design strategy, but for the assistance she has given to all of us who serve on the Financial Services committee on the floor as we have constantly pushed back on the over 40 or so attempts of the republicans to dismantle doddfrank and the fiduciary rule. And so, the executive actions on friday by the president to socall review the fiduciary rule and establish Core Principles for regulating the u. S. Financial system described accurately would be simply an attempt to dismantle protections for seniors and dismantle doddfrank. These directives show once and for all that when push comes to shove, donald trump will always put the interest of his pals on wall street over the interests of the American People. With this administration, the hashtag wallstreetfirst couldnt be more accurate. What is more unnerving is that during the Divisive Campaign that trump ran, he repeatedly accused Hillary Clinton of being in the pocket of wall street. He claimed that he would drain this swamp and put america first. What a pack of lies he told. Wall street is running trumps white house. For example, trump was quick to name Goldman Sachs alums to his administration, making steve bannon his chief strategist, nominating Steve Mnuchin for treasury secretary, and he also appointed gary combe, a Goldman Sachs lifer, as head of the National Economic council. Combe waltzed away from Goldman Sachs with a 285 million severance package and into the white house with plans to make his buddies on wall street even richer. Last friday, trump unveiled these two plans. First, of course, there was the executive order aimed at taking apart doddfrank page by page. This executive order was clearly written by the banks. I encourage all americans to read it. Not for what it says, but for what it doesnt say. For example, the first socalled core principle is to empower americans to make independent Financial Decisions and informed choices in the marketplace, save for retirement, and build individual wealth. He isnt saying that we need to rein in predatory lenders. That we need to shut down payday loan sharks. That we need to make sure that investors arent ripped off. He is saying he wants an anything goes regulatory regime. Kickbacks, predatory practices. The worst of the subprime meltdown. Hes telling us that its all fair game as long as someone can make an informed choice, and if you choose wrong or you are duped, i guess thats on you. We had that kind of system before, we know exactly how it turned out. It led to financial crisis that started when banks and unscrupulous Mortgage Brokers steered unsuspecting americans into poorly underwritten predatory subprime loans and then wall street packaged those loans, lied to the investors about their contents, and then bet that they would fail. And in the ensuing chaos, banks got bailed out while americans lost 13 trillion in household wealth. Nine million americans lost their homes to foreclosure and the Unemployment Rate climbed to 10 . But trump wants to go back to those days, because for him, wall street comes first. This administration is also misleading the public by saying that doddfrank is hurting small financial institutions. The data doesnt back that up. Community banks, income levels are up 12 . They are making more loans than the big banks. And the Credit Unions have seen membership numbers expand. In fact, the numbers show that banks lending to businesses has increased 40 . All of this is since doddfrank. This industry profitability applies to banks of all sizes. All banks have been making money hand over fist, postdoddfrank. With banks posting a record profit of 43 billion last year. Doddfrank clearly is not hurting their bottom line. But a 43 billion record profit isnt enough for these guys. They and their families in the white house wants more and theyre willing to strip away the important consumer and Investor Protection in doddfrank to get it. The executive memorandum on the fiduciary rule is no different. Trump is trying to undo the hard work that went into the department of labors rule to protect seniors, savers, and retirees. Most people dont know that when they go to start saving for their retirement that sometimes the person they have gone to for advice is recommending investments that are in the advisors interests and not in the clients. This conflict of advice has cost american savers 17 billion each year. Trumps memorandum would send that money straight back to wall street. Trumps Actions Prove that he and his administration are all about enriching some of the richest people in this country. Its the billionaires and millionaires looking out for each other. In trumps america, wall street comes first and main street picks up the tab. Thank you very much. We have other members who are here. Brad sherman is next. Thank you. Ms. Pelosi were doing it by seniority. Mr. Sherman brad sherman from california. Sherman oaks. Y, cpa and 20 year member of this committee. On the issues of wall street and big banks, trump sounded like he was bernie sanders. He is now creating an administration that looks like Goldman Sachs. The effects of this trump executive order and plan is insidious because they dont have the immediate, tangible effect. The executive order on visas and immigration, immediate effect, immediate push back, immediate reduction, at least in its immediate effect. Obamacare, people will see it if it is repealed. They will know it immediately. But what about changing doddfrank . Well, as our leader pointed out, a wall street journal article today says that they are on target to cut by 100 billion the amount of capital in the six largest banks that they are required to hold and allow that money to go to shareholders and management. But what does that mean . It wont have an immediate effect. The next effect will be in the economic downturn when those banks have 100 billion less in cushion, and yet those loaning money to those giant banks, they are not seeking a higher rate of return. They dont think there is a greater risk because they believe that in the next economic downturn, without the 100 billion in capital cushion, those banks cant meet their responsibilities and pay their debt, they will be bailed out again by the federal government. So it wont have an immediate effect, but it will have a real effect on americans and the social contract that pulls us together. As for the fiduciary rule, as our Ranking Member pointed out, that is going to hurt american savers to the tune of 17 billion. That is a rule supported by aarp and the Consumer Federation of america. And positive statements have been made about it by bank of america, meryl lynch and morgan stanley. And some 65 of trump voters say we should keep that rule in place. It is time that we stop the greatest bait and switch in american political history. It is time to make sure that trump governs like he campaigns. Ms. Waters mr. Al green. Mr. Green thank you, madam chair. I understand you are the Ranking Member now but you will always be madam chair to me, and thank you, madam leader, and i say sincerely without hesitation that she will always be madam speaker to me, thank you, madam speaker and colleagues. Friends, in a world with alternative facts, it is sometimes difficult to know the truth. The ultimate truth that can set you free. It is sometimes difficult understand that carlisle is right, no lie can live forever. That William Cullen bryant is right, truth comes to earth shall rise again. So please allow me to share a few truths with you. At the genesis of this crisis, several events took place that were absolutely destructive. You may recall that the stock market fell 778 points one evening. You might recall that we had to come back and we had to take another vote. You might recall that banks were not lending to each other , the crisis was so dire. We literally were on the precipice of an abyss unlike we hadnt seen since 1929, probably. So with these facts, there was one other significant event that occurred. Members of the Opposition Party met and the leadership decided that they would not support president obama, and they made a pledge to each other, and the truth is, they kept their word. They fought him every step of the way. Doddfrank wasnt something that we necessarily thought we should just do because we were goodhearted people. The American People were demanding that we do something about 327s and 228s. They were demanding that we do something about the last point that i shall make, the yield spread premium. Please note that the yield spread premium allowed your Mortgage Broker to qualify you for a loan at 5 , and then come out with a very big smile and say, good news, you qualify for a 9 loan. You would get that 9 loan thinking you had gotten a great deal. You would have your loan, you would get your house, but you would probably have a prepayment penalty that would coincide with a teaser rate, such that if you wanted to get out of that inflated loan, you would have to pay a penalty that you could not pay. And by the way, the broker got to share in the spread. Thats why the broker would raise the rate so that the broker could benefit. Very similar to whats happening with some other circumstances. So i just want to thank you, madam speaker, madam chair, for allowing me the opportunity to say to the public, we cant accept alternative facts. There is a real truth, and the truth is that doddfrank has been of great benefit to the American People. Thank you. Ms. Waters congressman foster. Mr. Foster good morning. My name is bill foster, i am a businessman and a scientist and a representative 11th district of illinois. At the age of 19, i started a company with my brother in my basement that now manufactures most of the theater lighting equipment United States and now employs over 1,000 people. We used banks in the Financial System to help grow our company. But unlike donald trump, we did not go bankrupt, and unlike him, we kept those good middleclass jobs in the United States. I entered congress in 2008. When i served on the Financial Services committee during both the Emergency Response to rescue our economy and the democratic response, the doddfrank bill, to make sure that families in america never have to suffer through that kind of calamity again. Millions of American Families saw their Retirement Savings wiped out in the collapse of wall street. Families saw any hope of a secure retirement wiped out in the bursting of the housing bubble. So in writing doddfrank, we identified which pieces of our Financial System were irretrievably broken and must be fixed immediately and those pieces worked well and were best left alone. The house Financial ServicesCommittee Held 41 public hearings on financial reform and spent 55 hours hammering out the final language. Thats on top of hearings and debates held in the senate. And since then we have seen 75 months of continuous private sector job growth, home prices rising at a well regulated and sustainable rate, the stock market more than doubled, business profits are at record levels, and despite republican predictions of hyper inflation, Interest Rates and inflation are well under control. Yet donald trump and the republicans call this a disaster. President trump has new directed his nominee for secretary of the treasury to submit a report within 120 days on how they might change regulations to meet broad economic goals, goals that should already guide everything that we do in the Financial Services committee. But mr. President , i will save you some time. I have a thumb drive on which i will put the transcripts of all the hearings of all the debates that led to doddfrank. Because congress has already done that work. We are now 10 years after the start of the financial crisis that families in america are only now recovering from. We should always remember, this financial crisis to not have to happen. It was not an unavoidable accident or a standard feature of free markets or an act of god. It was a mistake. Driven by thetake same mindless the regulatory deregulatory hysteria that President Trump is steering us towards that. So when President Trump complained that his friends cannot get the loans they want, godonald trumps friends bankrupt as often as though much of himself goes, than am pleased that our banking regulators are not letting the giant banks because kind of irresponsible loans. ,hen congress and the president what we should be doing is building on the success of dodd has made the United StatesFinancial Services system the safest place on earth to invest, the envy of the world, and a financial haven in times of crisis. Thank you, all. Ms. Waters our newest member, mr. Gonzales. Mr. Gonzales thank you. I would like to thank our colleagues who are all here on this important day fighting the repeal of dodd frank. That would be catastrophic. It was in my district tens of thousands of people lost homes. Millions across the country. We cannot return to the pre2008 times. The should be a bipartisan issue. It should not be a fight that is taken on by a small group on a committee. We cannot return to the financial catastrophes that we had in the past. In my district, one of the poorest in the country, we had a lot of financial crisis is. Financial crises. We need to save our seniors and young people trying to buy homes, giving them the stability that they need to move forward in this country. Thank you, very much. Announcer i think thank myk i colleagues for the valuable contributions to this discussion giving some of the concerns that we have as we go into the future. I want to mention that when we did put this reform bill forward the dodd frank, not one republican voted for the bill, even though there were attempts to accommodate some of the concerns in the 41 hearings of that. And only had the conference report come back, three republicans voted for it. So it is no wonder that the wall street journal is reporting today that the republicans in congress are ready to overturn dodd frank. What happened on wall street was about greed. And it may have also been about criminality. Nobody paid the price except for the American Consumer and american taxpayer. We are not going to let that happen again. If mr. Trump wants to put wall street first again, we will not going back. Im sure my colleagues would be pleased to answer any questions. Waters, lastman week you said your greatest desire is to lead donald trump into impeachment. Im wondering why is it appropriate to call for the impeachment of trump less than a month into the presidency . Ms. Waters i have not called for the impeachment yet. He is doing it himself. Let me just say that the statement i made was a statement in response to questions and pleas that im getting from many citizens across this country. What are we going to do . How can a president , who is acting in the manner that he is acting, whether he is talking about the travel ban, the way he is targeting about muslims, his relationship to putin and the kremlin, knowing that they have hacked our dccc and dnc. Knowing he is responsible for supplying the bombs that killed innocent children and families in aleppo. The fact that he is wrapping his arms around putin while putin is continuing to advance into korea. I think that he is leaving himself into that kind of position where folks will begin to ask, what are we going to do, and the answer is going to be eventually, we have to do something about him. We cannot continue to have a president who is acting in this manner. It is dangerous to the United States of america. Do you agree . Ms. Pelosi im not here to talk about impeachment. Im here to talk about the assault that the truck Administration Trump administration is making on americas working families. Anything is grounds for the displeasure and unease in the public that the president has acted in a way that is strategically incoherent, incompetent and reckless. And that is not grounds for impeachment. When and if he breaks the law, that is when Something Like that would come up. But thats not the subject of today. Can i follow up on the subject of today with dodd frank . Colleagues were against president obamas fiduciary role. Ms. Pelosi that is not true. All of our members pitched in to say how we could improve this. And im glad you brought that up. Because our secretary of labor listened to everyone that our members suggested they bring in from the private sector. And that is why, as was mentioned, some in the private sector came forward and said, we can live with this. This is about being honest with the American People. Should they had Financial Advisors who are telling him that we should make this investment because i get a bigger cut of the action, or should we have investments that say, this is in your interest . And of course i will get my fee. Would you be supportive of ms. Pelosi no, i support it the way it is because this is what we put forth as the best protection for the americans. They want to overturn that. Make sure you understand i hate to say this because i like to think we are community and we do things together in the interest of Economic Growth in our country, but it but what is happening now is that President Trump and his billionaire cabinet and advisers in his own office who spring from wall street are putting forth a wall street first policy at the expense of the American People. Two people who might be listening to this, if anyone is listening to this on a monday morning or hearing about it, make sure you understand what this means to you. My colleagues have talked about it in terms of homeownership, about pensions, jobs, growth in our country. They want to take us back. You heard what i said. They took us with these very same policies that were referenced, their fiscal cuts as well. Tax cuts for the wealthiest, giveaway packages for the Medicare Part d legislation that produced great deficits in our country, and at the same time, actions that allowed wall street and i do not paint everyone on wall street like this, by the way. Because there are some people who understood this was wrong. But some did not. And some had the ire of the public that no action was taken for those involved in possible criminal activity in the way they ripped off the American People. The American People have to know. Youve heard me say it, those of you who are regulars, public sentiment is everything. Abraham lincoln. The public has to know that they want to take us back to that place by a person who went up there and campaigned against wall street. And it was just a hoax. Just a hoax. Because here he comes back and says we will overturn every protection that is there for you. Whether it is wall street reform, the fiduciary rule, most people dont know what that means. That means who you are responsible to when you advise someone to make an advised make an investment. The biggest cost for you the advisor. So Retail Investors who are not sophisticated and who are not paying as much attention as an advisor should be as to what is happening in the marketplace. This is really a rip. And the score everything so far that this president has done, score it for wall street. He has done nothing. Where is your job creation package . Nothing. Zero. By this time in president in 2009,dministration, he wanted to take action now to create jobs for the 21st century. One week and one day later, the house passed legislation, the reinvestment act. The short time after that, the Senate Passed a bill. By february 17, one month after the inauguration, the president had passed legislation and the Congress Passed legislation tot would save or create 3. 5 four million jobs. So where is the job bill . In order to deflect attention from the fact that they have no job ban job bill, they do a band, an immoral and unconstitutional, reckless ban on muslims coming into the country. And when that wasnt going so well, they moved of the time of an appointment of a a Supreme Court justice who will undermine the things that we are talking about here. So while it is only a couple of weeks since the inauguration, there is complete evidence. We have seen nothing that i can work with president bush on. I thought there might be some interest because what he said in the campaign which turned out to be not true, a hoax, and really dangerous to the economic stability of americas working families. Are there any areas of Financial Regulation where you would want to work with republicans to improve what is in theong right now law right now . Ms. Waters you know, i am constantly asked about what we are going to do to work with republicans. And i basically describe over and over again that they have the numbers in the house, the numbers in the senate, and they had the white house. What do they want to do to work with us and honor much of the work that has been done by democrats for the most part, and some republicans come on these Financial Service issues . They claim that somehow they want to work on behalf of small businesses, on behalf of of Community Banks. We have worked very closely with Community Banks. We have listened to their concerns. We have addressed those concerns. And the Community Banks of 2 billion or less do not have to comply with dodd frank. They have the ability to do mortgages and hold them in their portfolio. We have worked with them on making sure that we recreated an exam schedule for them so that the exams were not taking place so often that caused them to have to tie up their employees in the bank. We worked with them on extending the length of time that sent privacy notices out because they said it was costly to send them out every year. And every time we have tried to work with the republicans to do more things, they do not respond because the American Bankers Association is in control of Community Banks and Community Banks stick with them because they believe that they need the big banks to be their advocates. And so, the big banks use them. They keep them hostage, basically. But we work and we still extend a hand to the Community Banks. As a matter of fact, we said we could extend the protections from 2 billion to 10 billion, and basically they said no. As a matter of fact, only if you will include big banks, and we dont want any limits, whatsoever. So dont be fooled and dont be tricked. Everything that we tell you about the Community Banks, you can verify. You can verify all that we have attempted to do. All that we have done. And we still hold a handout to work with Community Banks and they know this. And if only the big banks would release them from being used then they could then say they were working with us. One small thing we could work on together is allowing Credit Unions to make more Business Loans. And whether that is in the sense of lifting the percentage that they can make Business Loans for or whether it is classifying mortgages on small apartment buildings as not coming under that cap, there are tens of billions of dollars available to the very small businesses, the ones that we hang out with in our district and i think that might be bipartisan. I am still looking for a republican to join with me in saying that we have to change how we deal with the Credit Rating agencies. I regard the present structure as the cause of 2008 because they gave aaa to alt a. And they got more business by being liberal graders. If you were allowed to give thousands of dollars to your professor, your grade would have been at least aaa. So, the Franken Sherman amendment to dodd frank got watered down a little bit in conference and it got disregarded by the sec, but we need to see a circumstance where it isnt just the road to profits for Credit Rating agencies to be known as easy graders. Following up on that, as it currently stands with what you have seen on the committee, would you be urging the members of your caucus to oppose any changes to the dodd frank act . And along those lines, this was a very politically motivating issue during the campaign. Will try to carry this over and segue this into grabbing onto the atmosphere surrounding the capital in the last couple weeks . Ms. Pelosi the first part of the question i yield to the Ranking Member. Ms. Waters the dodd frank bill is a huge bill with a lot in it. Are you talking about the Consumer FinancialProtection Bureau . What are you talking about . Be willingy would we to work with them to change dodd frank . We listened very carefully to any concerns that are identified by Community Banks and even by the big banks and by any in the whole industry , wall street, etc. We take their concerns one by one. We listen to them. Sometimes we are able to do some limited modifications. We have done that. And so we are not going to destroy dodd frank and we are not going to get rid of the Consumer FinancialProtection Bureau. We are not going to change what we need to do on transparency and derivatives. But we listen. And if there is any opportunity to straighten out something that may not have been written quite in a way that everyone understands, some minor modifications etc. , we have always been willing to do that. Pelosi what theyre doing now will present a Systemic Risk to our economy just as they did with the same behavior leading up to 2008. It might be instructive for you to know, and some of you do know because you covered it at the time, just to show how cooperative we want to be to protect our economy, on september 18, 2008, i was sitting in my office with the leadership and i said, you know, i regularly heard from the secretary of treasury that the responsibility has to support and respond to us on the state of the markets. Not necessarily just the stock market, but credit markets and bond markets and global markets. But i havent heard from them in a couple of weeks and in that period of time we had lehman, merrill lynch, and right in that 24 hour period, aig, when the fed was going to bail them out for 80 billion which we didnt know they had or could do. But nonetheless, i looked at my watch. It was 3 00 in the afternoon and i didnt want to be rude but i said mr. Secretary, i am meeting here with my leadership, i have not heard from you, could you come in tomorrow morning at 9 00 and brief the whole leadership, not just me, on how you see things because we dont want to make any statements that might lessen confidence in the market. We dont want to say the wrong thing. But what is going on . Do you know what he said . Madam speaker, tomorrow morning will be too late. Which i said, why am i calling you, not you calling me . Because the white house did not Want Congress to know. They were hoping they could ride this thing out until the election, which they knew would be a good chance was barack obama. The meltdown would occur. And they were relieved of their responsibility. But they were responsible in terms of lack of regulation, lack of supervision, etc. And so, they came that night instead of the next morning. It was democrats and republicans, senate and house, and members of the administration. The administration was not happy about doing it, but when they said who does she think she is . Tell them she is the speaker of the house. Tell them whatever, but we are having the meeting. After the secretary described a meltdown of such proportion, he took us to the depths of hell, a place where dante couldnt even find a circle to name. It was so discouraging. That is when i said to the chairman of the fed, what do you have to say . He said, if we do not act immediately, we will not have an economy. And did most republicans vote against that bipartisan solution that president bush was advocating . He never thought the republicans would walk away from that. I dont think. He said just bring it up and they would vote for, they have to. They did not vote for it. They were true to who they are. They do not believe in any containment of the degree and criminality of wall street. That is just the way it is and they call that the free market. We believe in the free market. But that is having uncle sams collusion for your lack of responsibility to the economy. So that is where they want to take us again. Get rid of the reforms in doddfrank. And thank god, we said when we wrote the tarp bill, that they largely did not vote for, that they would pay the tax payer back. And just as a sign of the greed of wall street, even when we are making the suggestion that we should contain ceo pay, the secretary said, if we contain their pay, they will not accept the bailout. Imagine that. Subsequent to that, after the bailouts, fortunately, we had protected the taxpayer in the bailout. They took the biggest bonuses that they had ever received before and since. So, i do not know what it is they want. How much more money they need. I think they want immortality. Their names on buildings. They have severance pays of hundreds of millions of dollars. We have to put a stop to this. The American People have to know. This is not political. This is economic. This is our country, our economy. So it is not about making points politically, it is about changing the behavior of the republicans in congress or at least letting the public know this is what they believe, hold them accountable for your mortgage, your pension, your childrens education, your job, and the health and wellbeing of your community. So it is not about winning a political point. It is about strengthening our economy. Creating jobs to create growth. There is more to it, but i will step aside now. Is your strategy for changing doddfrank the same as blocking the Obamacare Repeal . Ms. Pelosi lets take it to the public. This is about the public interest. While some of us were very discouraged on inauguration day, when we had the peaceful transfer of power to a new president , we were our spirits were lifted the next day when millions of people across the country and even more across the world came out and said, we are listening. Listen to us. We are holding you accountable. All of you accountable. It was a fabulous thing. So we believe the more the public knows, the more accountable republicans will have to be on these subjects. And mr. Crowley and ms. Sanchez have planned a very comprehensive schedule for us this weekend. Come there and we will tell you what we are doing at that time. But it is the public knowledge. As mr. Green said, it is about the truth. About people knowing what is happening and how it affects them and their lives, their economic stability. And what he said in the campaign and what he is not doing now when it comes to wall street versus main street versus working families in our country. Ok, that is it . Anything my colleagues want to add on any of the questions . One small thing. Things that congress should be working on. The real threat to small Community Banks is not doddfrank regulation. It is banking on your cell phone. And congress has a lot that we should be doing in making sure that when we regulate, we do not rediscover all of the mistakes that we learned not to make during centuries of banking regulation. And so that is an area where democrats and republicans should come together. Not to generate predictable mistakes in our regulatory framework. Just one additional comment. Thank you, madam speaker. Some of this has gotten to the point where it is fatuous. It really is almost senseless. Because in this world of alternative facts, when persons say they want to cooperate, they really mean they want to obliterate. They want to completely eviscerate doddfrank. So how can you cooperate with people who want to eliminate the legislation that was demanded by the public . We will cooperate to the extent that we can, but it is difficult when their mandate is keeping the promise they made when they said they were going to oppose president obama and they are still doing it. They are still keeping their word. Thank you. I want to thank all of you for being here today. When our leader talks about informing the public, we are really talking about breaking down Financial Services, language, in ways the average citizen understands. When we talk about deregulation were talking about getting rid of consumer protection. So it is important for us to do everything we can to talk about Financial Services in a way that connects with the public and helps them to understand the connection between the reforms and what was happening to them starting in 2008, when we had the subprime meltdown, etc. So, i am very thankful all of you are here today. I am thankful that you are interested in understanding not only what we are attempting to do to educate and inform the public, but to start to write about Financial Services issues in ways that our average main street citizen will understand. Thank you so very, very much. Thank you, madam leader. John kelly will take questions on capitol hill about Border Security. The the tickets order on immigrants and refugees, and construction of a wall on the u. S. Mexico border. He will testify between the before the Border Security committee. A coverage begins tomorrow at 10 00 eastern on cspan three. You can stream and live online at www. Cspan. Org or listen live on the free cspan radio app. Announcer sunday night on q a over all these years i have never seen a case, the snowden so uncritically journalists have accepted information from a single source, edward snowden, who is in moscow under the control of the russian government. Announcer edward j st and on his book, how america lost its secrets, edward snowden, the man antitheft. He did enormous damage. I dont even know if his supporters did damage. They say he did enormous good. That is their view. Good becausesome he started a national conversation. And he opened up a subject of interest. Were trump is certainly right is that this man has not faced justice and he deserves to face justice. Announcer sunday night at 8 00 eastern on cspans you and day q a. Announcer tax policy subcommittee chair representative peter roskam talks about overhauling the nati