The economy. The other thing is, if you act too soon and you decide, oops, we acted too soon, you get you put yourself in a position where you have a zigzag policy and you will face criticism from that by people i know. Second, if you then want to go in the other direction, you only have a quarter point to play with. If you hit the brakes too soon, you dont have gas. With that in mind, im concerned about the effect raising Interest Rates now would have on the real estate recovery and i would ask you what you would think the impact would be of raise zing Interest Rates on the housing recovery and would we squeeze credit worthy borrowers out of the Housing Market and create a negative feedback loop with prices going down . So, you have made very large number of very good points and indicated many relevant considerations that the committee is trying to weigh and balance and has been taking into account. With respect to the Housing Market, of course the level of Mortgage Rates is relevant
If its my friends at the fcc, first of all, i wouldnt be shocked. And second of all, maybe thats a pretty fair thing. Have you done what you need to do to get this regulation, required by law, simply to allow us to know the incentive that is are involved and to prohibit inappropriate incentives that did help lead to the 2008 debacle. Have you done your job . We have tried to work constructively with the other agencies. I love when chairs never give answers. We have done i think the fed has done a pretty good job. Im not complain 00 the fed. But this is long overdue. Each regulator that comes before me, im going to ask. I dont say do a specific item, i dont care how much they make. Do it so the american person doesnt get on the hook again. On an item that we have already identified as a problem that everybody agrees was a problem and that should be relatively easy to fix. I agree with your assessment, that it was an important problem, that it is essential to address it. And as i said, i
Not credible, thats a problem. I know youre in the process now. Do you have any idea what the time frame might be when youre nto the Second Chance . So last year working jointly sent very detailed evaluations the living wills to the firms. And directed the firms to take action to improve their resoveability that were quite specific. And quite detailed. Weve received those plans. Were evaluating them jointly with the fdic. And we will be making decisions in the coming months. The time of the gentleman has expired. The chair now recognizes the gentleman from michigan,. Thank you, mr. Chairman. I am happy to rescue you from the hostile questioning my democrat friend over there. Dont take it personally. He is that way with everybody. But i do actually want to kind of follow on on something that he had point of interest and frustration for a number of us speed g to do with the or lack thereof where there has been some very specific things that were laid out for the fed to do and specificall
The chair will alternate recognition between the parties with each party limited to one hour and each member other than the majority and minority leaders and the minority whip but in to five minutes, no event shall debate continue beyond 11 50 a. M. The chair recognizes the gentleman from texas, mr. Gallego, for five minutes. Mr. Gallego thank you, mr. Speaker. I rise to say thank you to the wonderful people of the 23rd district of texas who for the last two years gave me the privilege of serving as their voice here in the peoples house. Im living proof that this is a nation of opportunity and that the American Dream still exists. God has blessed me in many ways. I was born into a warm and loving family. My parents taught me to work hard and respect others. I married to a wonderful wife who has stood with me through the peaks and valleys over the last 25 years of our lives and were parents of a son, nicholas miguel, who has taught us the true meaning of love. In addition, though, my ro
Institute. This is about 20 minutes. [applause] we are in kind of an unusual technical situation because craig venter, who is in san diego, hes supposed to be here is ill will something. So i guess lets see if i can just craig, can you hear me . Hes ill with something akin to muteness. Hes looking pretty good. [laughter] craig, can you hear me at all . You think hes scary looking . Hes not scary looking. [laughter] hes just an ill man. Lets see if we can we have a number of backup systems which i suppose we should employ. [laughter] if worse comes to worse, ill just tell you what i think he would have done if i could control him like a puppet. [laughter] all right. Now maybe hes hearing me. Craig, can you hear me . I can, robert. Nice to hear you. All right. We lost you for a bit. So whats wrong with you . [laughter] or. Lets see, i didnt want to leave la jolla sunshine for washington d. C. No, a number of things going op but, you know, it would have made montezuma proud. [laughter] le