macleginn/stanford_congress_record_longer_speeches huggingface dataset:
Date: 1981-04-29
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. the term "prime rate" has become meaningless and I urge the banking industry to adopt a simpler and more accurate description of Its Interest rate schedules. Tomorrow we will be releasing a staff study from the Banking Committee on the prime rate which shows that the phrase has been so often misused. abused and tortured in recent years that the phrase now seems beyond repair. I suggest the industry abandon Its painfully drawn qualifications about the prime rate and adopt In its place a lowest interest rate for business borrowers with all other rates scaled upward from that rate. The staff study. based primarily on a survey of the Nations 10 lar~est banks and entitled "An Analysis of Prime Rate Lending Practices at the Ten Largest United States Banks" found that definitions of the prime and its application provided by the banks were vague and imprecise. The study said that neither logic nor semantics prevented the banks from announcing their lowest rate offered the most creditworthy customers. The study said: While lending decisions are complex.it is difficult to accept the idea that multibillion dollar banks. operating with huge staffs and utilizing the most contemporary technology. cannot price their product accurately and clearly. The study cites numerous examples of below prime rate lending and said that the misleading nature of prime rate announcements distorted other lending activity. The study cited. for example. the fact that many small business loans were pegged to the prime rate. moving up or down with each change. The Small Business Administration. the study said. officially ties its lending rates to the prime rate as announced In the Wall Street Journal. Due to the impreciseness of the prime rate as a barometer of actual corporate lending practices. the study urged that SBA and other Government agencies cease the use of the prime in establishing rate schedules. The study also said that present use of the prime and the prevalence of discounts from the rate could. lead to price discrimination for smaller firms lacking alternatives In the credit markets. It also questions whether the prime rate discounting created imprecise benchmarks from which to measure the proper enforcement of such laws as the Equal Credit Opportunity Act. In transmitting the study to the committee. Mr. ST GERMAIN urged that the commercial banking Industry take steps to institute reforms In this area. and make certain that understandable rate schedules are made publicly available. Mr. Speaker. the bank supervisory agencies should abandon their apathy and take specific steps to assure that the banks adopt a more equitable means of dealing with the question. It Is not enough for an agency to simply collect the data with a bureaucratic shrug of the shoulders. Should voluntary and supervisory efforts fail to create a rational. fair. and understandable pricing system that means what it says. the Congress should consider action to protect the publics right to have access to accurate data about this vital sector of the American marketplace.
Date: 1981-04-30
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. when all the budget rhetoric fades. we will still have a nation In need of Jobs. housing. education. health. better transportation. and economic development. Some may feel better If the Federal Governmeiit buries Its head in the sand and pretends that magically In 100 days all the nagging problems have gone away. and that we will live happily ever after. Reality suggests that this Nation cannot ignore the real economic and social needs. If the Federal Government decides to Ignore the needs. the problems will not disappear. In many cases. State and local governments must pick up the responsibilities and eventually these governmental units must impose new taxes and must go into the credit markets for even greater borrowings. In other cases. programs which we now drop through the budget cutting exercises must be restarted at some later point at greater .osts and all the inefficiencies that a new beginning entails. Let us not kid the American people. Much of this budget cutting simply transfers the burdens and much simply delays the day of reckoning of the basic needs of this economy. Leaky roof economics always prove the most costly. In recent weeks. many Members of both parties have talked to me and called. the committee offices expressIng concern about housing. urban programs. the coop bank. energy development and export programs under our Jurisdiction. Many of the inquiries. of course. stemmed directly from conerns expressed by constituents about specific needs in the various districts. Budget cutting is popular. no question about It. We all read the polls. But. we cannot have It both ways. These programs cannot be financed with good wishes. and good thoughts. Through months of testimony. speeches. and statistics. we still do not have anyone coming forward with a definitive link between the budget cuts and the desires of the American people to end inflation. And certainly we do not change the economic equations when we shift budget and tax burdens from the Federal to local communities. the people paying the bill are the same. Mr. Speaker. I want the bloated areas of the budget cut. but I do not buy that every program for community development. for student loans. for the elderly. for mass transit. for energy conservation is bloat. per se. More than anything else. Mr. Speaker. we must be careful that all these overblown statements about whose cut is the biggest do not mislead the American people. Too often. we have had Presidents and Congresses who have overstated programs and expectations. The Ameican people need hard facts. not more fantasy that would lead them to believe that a cut in a jobs program would mean more Jobs. Mr. Speaker. the hangover from this budget cutting binge is going to be one of the toughest for the American people to suffer through once they learn program by program. community by community what happended to them.*
Date: 1981-05-04
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. It is my understanding that no business will be transacted for a little while. pendIng the clearance of certain matters on the calendar. If no other Senator wishes to be recognized at this time. I will proceed with my 39th statement on the U.S. Senate.
Date: 1981-05-04
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. thedistinguished majority leader is very kind. and I am deeply appreciative of his remarks on this occasion. as I have been on other occhslons. when he has addressed his attention to these statements.
Date: 1981-05-04
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. I now yield to the distinguished Senator fraon Wisconsin. Mr. PI~oxmiRs. such of my time as he may utilize and the remainder thereof to Mr. ZoRiNsHy if he should have need for It in addition to the time allocated to him under the special order.
Date: 1981-05-04
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. in response to the distinguished majority leaders inquiry. I am prepared to state for this side of th# aisle that the following calendar Items have been cleared for action by unanimous consent: Calendar Orders Nos. 52. 55. 56. and 60. as well as. if I mr.y. if the majority leader will pardon mu~. 64 and 65.
Date: 1981-05-04
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Yes. the telephones to offl~es on the minority side are being engaged at this point to see If such a request would be agreeable. Tilere are other nominations which the distinguished majority leader had Inquired about earlier and which have now been cleared. If he is ready. I will be glad to state them from this side.
Date: 1981-05-04
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. the nominations on page 2 involving Messages Nos. 182 and 212. Department of Transportation and Department of Commerce. are cleared on this side of the aisle for action at this time. On page 3. all nominations are cleared. with the exception of Message No. 169. the Department of Health and Human Services. That completes the Executive Calendar.
Date: 1981-05-04
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

I m ove to lay that motion on the table. The motion to lay on the table was agreed to.
Date: 1981-05-04
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. I move to lay that motion on the table. The motion to lay on the table was agreed to.
Date: 1981-05-04
Speaker: DE LA GARZA (democrat)
Chamber: H

Mr. Chairman. the gentleman is going to speak soon to Individual Members about how they reconcile that vote. because that is what I am trying to explain here today. We cannot have it both ways.
Date: 1981-05-04
Speaker: DE LA GARZA (democrat)
Chamber: H

Mr. Chairman. I am not going to burden the Membiers further except to make this statement. which I made In response to the gentleman from New York : The fact Is that we are now making up farm legislation. I have given the Members some of the figures. but we have toand here I am using the same wordreconcile ourselves to the fact that what we do here on the floor Is going to Impact on whe)t we will have to do later In the Committee on Agriculture. No matter what figures we used for now. no matter wha.6 legislation we finally pass. the reconciliation process Is going to give us a figure within which we have to accommodate the programs In agriculture. Mr explanation to the Members here Is that they should look very carefully at that. because the impact of what we do here will be such that it may necessitateand it most undoubtedly will. regardless of which way we go or what we do In the Committee on Agriculturethat we proceed carefully In determining how we provide for the food and fiber needed not only for our Nation but for many other nations of the world.
Date: 1981-05-05
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. I have no need for my time. I am glad to yield such time as I may have under the standing order to Mr. ZoiuNsxy If he needs It. and I do so yield.
Date: 1981-05-05
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. clearance on this side of the aisle has been given to me with respect to Calendar Order No. 54. S. 1002.
Date: 1981-05-05
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. I move to lay that motion on the table. The motion to lay on the table was agreed to.
Date: 1981-05-05
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

May I say to the majority leader. Mr. President. that we are working on that matter on this side of the aisle. Prospects for action lnter today are at least good. and I would like to advise the majority leader when I am able to clear the matter.
Date: 1981-05-05
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. I move .to lay that motion on the table. . The motion to lay on the table was agreed to.
Date: 1981-05-05
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. I move to lay that motion on the table. The motion to lay on the table was agreed to..
Date: 1981-05-05
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. reserving the right to objectand r will not objectI think the distinguished majority leader Is proceeding In the proper fashion in this matter. A star print can only be ordered by action of the Senate. I do not feel that there will be any objection on this side of the aisle to proceeding with the consideration of the budget resolution on Thursday. That matter has been discussed In our caucus today. and may I suggest to the distinguished Senator If he -wishes he can Include that in his request. that the Senate proceed on Thursday to take up the budget resolution.
Date: 1981-05-05
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. reserving the right to objectand. of course. I will not objectI Just want to state for the record that whether or not the publishing of the star print of the committee report would In itself. upon the availability of that star print to Senators. start the 3day rule again running. I do not choose to make any point of that here nor do I wish that the acquiescence of the miAnority In this instance to taking up the resolution on Thursday be .Interpreted as meaning anything with reference to the 3day rule. In this set of circumstances. So It is for that reason that I suggested to the distinguished majority leader that he proceed to lock in the taking up of the resolution on Thursday by order of the Senateso that It will not constitute a precedent one way or the other with respect to the 3day rule Insofar as the rule might or ight not be otherwise impacted upon the printing of aStar print.
Date: 1981-05-05
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. 1. want to call to the attention of the House four -headlines in this mornings Washington Post: "Democrats Lack Votes for Their Budget Plan". "Fed Increases Discount Rate From 13 Percent to 14 Percent". "MajorBanks Boost Their Prime to 19 Percent". "Stock Prices Sik Along Broad The -expectations- that the administrations -budget plan will be adopted are doing wonders for the econc.-my.
Date: 1981-05-05
Speaker: WON PAT (democrat)
Chamber: H

Mr. Speaker. I move that the House suspend the rules and pass the joint resolution (H.J. Res. 238) to approve a constitution for the U.S. Virgin Islands.
Date: 1981-05-05
Speaker: WON PAT (democrat)
Chamber: H

Mr. Speaker. I yield myself such time as I. may consume within the allotted time authorized. Mr. Speaker. It is with great pleasure. and personal pride that I. as chairman of the Subcommittee on Insular Affairs. today ask the House of Representatives to join me In support of House Joint Resolution 238. legislation to endorse the new constitution of the U.S. Virgin Islands. The Joint resolution before us recognizes and approves the proposed new constitution which was drafted by the people of the Virgin Islands. The proposed constitution -establishes a republican form of government. consisting of a unicameral legislature. an executive branch. and an Independent Judicial branch. If this measure Is approved by the Congress. the proposed constitution will then be presented to the voters of the Virgin Islands for their review prior to its Implementation. This resolution was approved by unanimous consent by the House Committee on Interior and Insular Affairs. And I note for the record that the concept of a new constitution for the Virgin Islanids has enjoyed bipartisan support since Its inception nearly 5 years ago. I congratulate my fellow Delegate and colleague from the Virgin Islands.
Date: 1981-05-05
Speaker: WON PAT (democrat)
Chamber: H

Mr. Speaker. I yield as much time as he may consume within the time allotted to the distinguished gentleman from the Virgin Islands . .(Mr. DE LUGO asked and was given permission to revise and extend his remarks.)
Date: 1981-05-05
Speaker: DE LUGO (democrat)
Chamber: H

Mr. Speaker. I thank the gentleman from Cailfornia for his remarks. I would -also like to state that on behalf of the people In the Virgin Islands that the gentleman from California has been one of the best friends that we have had and a leader in. bringing more selfgovernment to not. only the Virgin Islands. but to the other offshore areas. I would like to commendl him and also the gentleman from California . and the* gentleman from California.
Date: 1981-05-05
Speaker: WON PAT (democrat)
Chamber: H

Mr. Speaker. I ask unanimous consent that all Members may have 5 legislative days in which to revise and extend their remarks on the joint resolution (H.J. Res. 238). just passed.
Date: 1981-05-05
Speaker: DE LUGO (democrat)
Chamber: H

I thank the gentleman for yielding. and I would like to associate myself with the remarks of the gentleman from New York. I would also like to commend the chairman of the Black Caucus. the Delegate from the District of Columbia
Date: 1981-05-05
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. In 1978 the Congress created the National Consumer Cooperative Bank on the belief that there were millions of Americans who wanted to organize and operate cooperatives. but lacked sufficient sources of credit. This has been borne out by the hundreds of millions of dollars of loan applications that have poured Into the Consumer Bank from all parts of the Nation. Now comes additional evidence of the demand for cooperatives in the form of a national public opinion poll. The poll. conducted by Public Opinion Market Research of White Plains. N.Y.. showed widespread interest in consumer cooperatives. Many .of the respondents to the survey indicated their desire to participate in a consumer cooperative but noted the lack of such selfhelp organizations In their Immediate areas. Once again. this demonstrates the need for the credit facilities of the National Consumer Cooperative Bank. Mr. Speaker. I place in the RECORD a copy of a news release describing the highlights of this survey:
Date: 1981-05-06
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. reserving the right to object. I shall not object. I thank the distinguished majority leader for including the proviso with respect to nongerinane amendments.
Date: 1981-05-06
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. the NATO foreign ministers meeting concluded on Tuesday with an impressive display of allied unity. Secretary of State Alexander Haig deserves considerable credit for bringing about this unity by resolving two issues of vital Importance to the United States and our allies. I am referring to the deployment of -a new generation of Pershing and Tomahawk missiles on European soil which Is linked to a willingness on the part of the United States to engage In negotiations later this year with the Warsaw Pact nations on limiting theater nuclear forces In Europe. Over the years. the United States has pressed our Western European allies to modernize NATO theater nuclear forces. However. late in the Ford adnilnistration. when the Soviets began deploying the SS20 Intermediate range nuclear missile. obviously aimed at European theater targets. our allies became Increasingly concerned that any strategic arms limitations negotiations between 0 This "bullet" Trymbol identifies statements or insertions which are not spoken by the Member on the floor. U 4413 ourselves and the Soviets include this new threat to their own security. Since the deployment of the SB20. our allies have believed that European and U.S. security had to be linked more closely and there should be more cooperation regarding these mutual security concerns. Therefore. our allies made it very clear that any modernization of NATO theater nuclear forces had to be linked to a willingness on our part to participate In talks with the Soviets on limiting intermediaterange nuclear missiles based in Europe. As a result of this concern on the part of our allies. once the SALT II negotiations were completed and signed in June 1979. the Carter administration turned its attention to the issue of negotiating limitations on the theater nuclear forces of both sides in Europe. That decision was announced in December 1979 and preliminary discussions were undertaken with the Soviets last fall. In my estimation. it is important for the NATO alliance that our theater nuclear forces in Europe be modernized. However. I believe it to be equally Important that we be responsive and sensitive to the Europeans concerns over limiting thb theater nuclear forces of the Warsaw Pact nations. Since we have now achieved an accord in moving forward on both fronts. I applaud the Secretary of States sensitivity in recognizing and acting upon these concerns. The NATO alliance has been strengthened with this agreement.
Date: 1981-05-06
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. In response to the distinguished majority leader. so far as this side of the aisle Is concerned. the nominations on page 2. beginning with Department of State and going through Department of Interior. are cleared. On the Calendar of General Orders. Calendar No. 66 Is cleared on this side of the aisle.
Date: 1981-05-07
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. I Join with the majority leader in appealing to our colleagues to stay close to the floor so we might be present to welcome the Prime Minister from Japan and our own Ambassador. Mike Mansfield. when they -arrive on the floor. which we Presume will be shortly.
Date: 1981-05-07
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. I wonder if we can get an agreement. and I have discussed this with the distinguished majority leader and the managers. that there will be a vote on the amendment by Mr. DECONciNi with no intervening votes on perfecting amendments.
Date: 1981-05-07
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. I would hope that we could have an understanding that there would be no vote on intervening amendment In between. As to whether or not we lock up an upordown vote on this particular amendment would be up to the Senator from Arizona.
Date: 1981-05-07
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. I have an alternate suggestion. which I have not yet discussed with: the majority leader. Would the majority leader and the manager and others on his side and the manager on our side be agreeable to a vote- up or down on the substitute by Mr. DECoNcixi at 10 minutes to 7. that that be a 15zninute rollcall vote: that that be followed by a vote on the amendment by Mr. THURMOND. as amended. If amended. immediately thereafter. and that that be a 10minute rollcall vote?
Date: 1981-05-07
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. I move to lay that motion on the table. The motion to lay on the table was agreed to.
Date: 1981-05-07
Speaker: PHILLIP BURTON (democrat)
Chamber: H

Mr. Chairman. I rise In opposition to the LattaReagan substitute. I quite confidently predict that this Is going to prove the economic equivalent. of the Tonkin Bay resolution to declare war In Indochina. This substitute !s a declaration of war against Americas poor and powerless. against the working people of this country. and against the environment. This proposal will make the rich richer and the poor poorer. It Is. in short. a blueprint for economic disaster. I urge its rejection.
Date: 1981-05-07
Speaker: SAM B. HALL (democrat)
Chamber: H

Mr. Chairman. I have taken the well of this House very seldom. probably not a dozen times In the past few years that I have been here. I feel constrained today to make just one or two comments about the GrammLatta proposal that I support. I have heard a great deal of testimony here in the last few days and discussions about what happened In November of last year. I think what happened In November of last year was a mandate by the American people to this Congress to do something different. I represent a district In Texas that without any response from me has sent in some letters. from schoolteachers. dairymen. farmers. ranchers. ol and gas peoplethe gauntlet. This Is through May 5. 1981. the update on responses to President Reagans proposed economice plan. The total number received has been 1.119. The total number in support. 1.029. the total number against. 90. Of those opposed. 15 opposed adjustments in the COLA from a 2ayear to a 1ayear Increase. Fifteen feared a budget reduction in the aid programs. Eleven opposed cuts to social programs affecting the elderly and the poor. Only 10 people of those 1.119 opposed the Presidents program iii toto. That says something.
Date: 1981-05-08
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. If the distinguished majority leader will yield the time to mue. I may need It or I may not.
Date: 1981-05-08
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. I now yield to Mr. PRoxmmtE such time as he may desire of the time under my control and then. following him. such time as the Senator from Alabama (Mr. HzrLIN) may need. and then such time as