and do you or the consumer financial protection board, do you all ever recommend products or push a certain product for somebody, such as a 30-year loan versus an a.r.m.? do you promote those types of things, or is that a personal decision? i don t think that as a bureau it is our role to promote or hock particular products. that s not what we re doing. but it is our role to enforce and to implement the law. congress has made some judgments here about some of the exotic mortgage products, for example, that led to the mortgage crisis, the financial meltdown, the credit crunch that destroyed many businesses in this country and cost a lot of people jobs and homes. we will implement those decisions to the extent we have judgments to make. we ll try to make them very carefully in this realm. but you re not trying to go to a plain vanilla or everybody gets the same thing type loans? i don t think we re trying to mandate products for individuals. i think if people are presen
republicans 202-737-0001, our independent line is 202-628- 0205. a good friday morning to you. for a quick review of some of the big stories coming out of this town, here are some of the headlines we have been watching here at c-span. for to vall, three days of oral arguments on the health care challenge. on capitol hill, the house gop passed its 2013 budget along party lines. also, a standstill over the transportation bill with the 90- day extension of it. president obama came back from south korea where he made headlines. yet today, he spoke about oil subsidies. on the campaign trail, mitt romney getting closer to the nomination. he secured the endorsement. we will talk about those later. mr. gingrich reorganized his campaign and made headlines over his comments about janitors and the work they do in washington, d.c. we are going to ask you which story you are following. help us out by not running through all of them. pick something that is of particular interest to you. gi
the gentleman from west virginia. mr. rahall: i m pleased to yield two minutes to the gentleman from n york, a valued member of our committee and the upon sor of h.r. 14, the every other body s nonpartisan, bipartisan transportation bill, which is twice as good as h r. 7. the speaker pro tempore: the gentleman is recognized for two minutes. i thank the gentleman for yielding. our republican colleagues are telling us we should forget about the 15 months since they crafted the highway bill. mr. bishop: they re telling us to forget about the last 16 weeks during which time their bill imploded and the bipartisan map 21 bill passed the senate with overwhelming bipartisan support. now they re telling the american people they need three additional months toind the money an shape a policy, an effort that thus far has elieu them, that can garner the votes in the house and be signed by the president of the united states. it gets better. on the very same day that they make this outrag
they talk about south korean security. the assistant business and financial editor gretchen morgeson looks at the overview of fannie and freddie. they discuss the first relief of records and surveys from the 1940 u.s. census after the expiration of the confidentiality clause. on c-ington journal live a span. and paul ryan defended his budget bill at an event hosted by the national journal. he also spoke about defense spending in changes to the medicare program. the house passed the plan after these remarks, which are about 30 minutes. i want to be very brief so we can get to the questions. i will go through the lay of the land with respect to the process. the budget law says the president must propose a budget. the president has followed that proposing a budget. we take issue with his budget. it is not addressed the drive as of our debt. there was a vote last night and i got 414 to 0. it was an attempt to try to show that there s not a lot of support for putting a bu
[inaudible conversations] the committee is called to order. this hearing will come to order. i would remind members that the opening statements should be limited to 10 minutes as previously agreed. there are members that are not necessarily are not a member of the oversight and investigation committee. i have asked of those members be allowed to participate in the hearing today as well. i am going to go ahead then with my opening statement. this is the third hearing that we have had on mf global. it is one of the eight largest bankruptcies in the country. more partly, it is about trying to ascertain what happened where farmers and ranchers and customers lost over $1 billion of their money. i would remind folks that this is a hearing and not a trial and at the bottom line of what we are trying to college today is basically to do an autopsy of how a 228-year-old company came to its demise last year. it is important that we understand what was going on corporately, what was