macleginn/stanford_congress_record_longer_speeches huggingface dataset:
Date: 1987-04-23
Speaker: DR LA GARZA (democrat)
Chamber: H

We always will be happy to hear from him. but always we are cautious that maybe sometimes in a misguided effort to try and assist. we may cause more problems than we resolve. I hope that this is not the case. I pray that this is not the case. and we will work with the gentleman.Mr. de la GARZA. Mr. Chairman. I would like for the day to come when I do not have to do this in an appropriations bill. either supplemental or continuing resolution. that somehow the gentleman would do his able mandated duty without us having to feel that he is infringing on the authorizing committeee. because if he wants to infringe and he come to our committtee. we will be happy to welcome him as an ex officio member. and we can do it together. He does not have to do it to force us to come to the floor and have to engage in this type of colloquy.
Date: 1987-04-23
Speaker: DX LA GARZA (democrat)
Chamber: H

I thank the geno tleman. My concern is that I was Just told by a very knowledgeable farmer. both older than my distinguished friend and myself together probably. and he said we do not want to study the issue any more. He does not want to study the issue any more. and that prompted me to wonder if this might not be-
Date: 1987-04-23
Speaker: DE LA GARZA (democrat)
Chamber: H

I would hope in the future. Mr. Chairman. we might have the opportunity to open the doors of our committee. We welcome you as an ex officio Member. We will give you one of our caps that says. "Agriculture Committee." and we will not have to come and resolve it on the floor.
Date: 1987-04-23
Speaker: DR LA GARZA (democrat)
Chamber: H

Mr. Chairman. in view of the explanation by the distinguished gentleman from Mississippi . chairman of the committee. I do not pursue the point of order any further.
Date: 1987-04-23
Speaker: DR LA GARZA (democrat)
Chamber: H

Mr. Chairman. I had a motion to strike this section written at a time when I was more upset at my distinguished friend and colleague than I am now. with all due respect. I think from this colloquy. knowing it would serve no useful purpose for me to move to strike. even if we were successful. I do not know if the Secretary will do it or will not do it. I do not know if it will survive conference. I do not know what could happen. I personally think we could better utilize the $10 million on another study. But out of respect and admiration for my dear friend. and more out of respect for his 39 years. I will not make the point of order and I will not offer an amendment to strike. I will let the gentleman have his day and hopefully we do not have to meet again.
Date: 1987-04-23
Speaker: DE LA GARZA (democrat)
Chamber: H

Mr. Chairman. I rise to strike the requisite number of words. Mr. Chairman. if I might ask the author of this amendment. is this amendment the one for the lesser figure or the initial figure?
Date: 1987-04-23
Speaker: DE LA GARZA (democrat)
Chamber: H

Mr. Chairman. I thank the gentleman. Mr. Chairman. I am not here as a defender of USDA. but I do hope that we would have some accuracy in the debate. I might remind my distinguished colleague that the figures that he used were attempted divisions of land that were disallowed by USDA audit. Therefore. those were not accepted by the USDA and they were not an accomplished fact. But the gentleman is correct that we. if we utilize taxpayers money. we have to be as careful as we can. We should do everything possible. I have to defend the fact that in spite of what some term to be a large expenditure for agriculture. all the money spent in the agricultural programs amount to less than 3 percent of the total budget. less than 3 percent. If those who feed and clothe America and provide us with a large segment of our trade income are not deserving of at least that much. I do not know who is. But we have to send the message. and with that. I concur with my distinguished colleague and join in saying that we will not tolerate fraud in the agriculture programs. as we will not In any other program. There is massive fraud in housing in the urban cities. there is massive fraud. as we have seen. in the Defense Department. They probably stumble over more money in 1 day at the Pentagon than we :use in 1 -year for agriculture. So we need to put it in -perspective. the amount that we are dealing with. But fraud is fraud and it needs to be stopped. This may be a way to send the message. I will not oppose the gentlemans amendment. I think that the shot across the bow may be an excessive amount because the amount that has been paid has already been paid. The ones that conceivably were fraudulent have been disallowed or are on appeal and would not be allowed. We have asked for a GAO study. The subcommittee is working. If there is any impact. it would be too late for the press and they would not be until the 1988 budget. but a modestI do not know that we could use "modest" when we use millions--but an amount at least indicative of our concern. I would not be opposed to. I think if my friend. the gentleman from Kansas. the chairman of the subcommittee. will offer an amendment. then we can proceed and send the message and make the resolve that we will not tolerate any fraud or any attempt at fraud with the understanding that the human element is there and always there will be the availability for some person to get around the law. We will do everything that we can. working with everyone of good will and good intention to see that the programs in agriculture go to those that are deserving and to those that it is intended. Just very briefly. though. we are getting used to speaking about saving the family farm. The family farm in my area can be cabbage or lettuce or citrus fruit or a few cows. The family farm in another area can be apples or grapefruit. so I would ask that we think of this when we legislate.
Date: 1987-04-23
Speaker: DE LA GARZA (democrat)
Chamber: H

Mr. Chairman. I appreciate the gentlemans yielding. Of course. I would have to refer back to the chairman of the :subcommittee who will be handling this in the timeframe. but I would tell my distinguished colleague that our intention would be to do exactly that. To what -extent we can legislate to stop an activity entirely. let me say that the gentleman must understand that you can pass a law that says there shall be no murder committed in the United States. So to the extent that we can intelligently articulate the law to carry out our intention. we will.
Date: 1987-04-23
Speaker: DE LA GARZA (democrat)
Chamber: H

Mr. Chairman. if the gentleman will yield. that would be our intention. The USDA has come up with proposed regulations. but it is a volume 2 or 3 inches thick. The problem that we would have. if there would be. a problem. would be time. But I assure the gentleman that we would diligently. with the cooperation of the chairman of the subcommittee. work to that end with the committee.
Date: 1987-04-28
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Chairman. I yield 4 minutes to the gentleman from New York . chairman of the Subcommittee on International Finance. Trade and Monetary Policy.
Date: 1987-04-28
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Chairman. did the gentleman mention the amendments to the Export Trading Act that were contained in the banking section of this bill?
Date: 1987-04-28
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Chairman. I yield myself the balance of my time. Mr. Chairman. if I may inquire of the gentleman from Ohio . am I correct that in your substitute. the export trading company section is exactly the same as that which is in the reported bill?
Date: 1987-04-28
Speaker: ST GERMAIN (democrat)
Chamber: H

I am very happy to hear that because we did work together on that. Mr. Chairman. the Committee on Banking. Finance and Urban Affairs and its subcommittees and members worked very diligently on this legislation. Those portions that are in controversy were not dreamt up overnight. It is not a quickkey amendment. They have been studied for over a 1 years. 2 years. For that reason. Mr. Chairman. I am hopeful that when the vote appears tomorrow that the section of the bill that emanated from the Committee on Banking. Finance and Urban Affairs can be held and that the committees vote reporting it out to the floor will prevail. Mr. Chairman. I yield back the balance of my time.
Date: 1987-04-28
Speaker: DE LA GARZA (democrat)
Chamber: H

Mr. Chairman. this is a very important piece of legislation. and as I stated in my opening remarks. I do hope that the Members of the House will consider as seriously as possible the tremendous and very important Issue that is at hand. that to the extent possible. even though it has not been done in depth heretofore. that we try and analyze the basic cause that got us to the point we are at today. because if we deal solely with the immediacy of the situation. if we deal solely with the future as far as figures alone are concerned and do not address what causes the imbalance. then we will have a constant in the problem. Therefore. I hope that as we deliberate. we will keep in the back of our minds that we also need to address the basic cause or causes that cause the imbalance. and in collateral proceedings try to address those issues as we do on the trade issue in this piece of legislation. I would hope that the Members consider supporting the items that the Committee on Agriculture recommended to the Members. We realize that there may be some issues in which there may be a difference of opinion. We realize that. and we respect that opinion. but we feel that we have sent to the House the judgment of collectively the Committee on Agriculture. and we would hope that wisdom would prevail in the end.
Date: 1987-04-29
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. I ask unanimous consent that the Subcommittee on Housing and Community Development of the Committee on Banking. Finance and Urban Affairs. be permitted to sit to markup H.R. 4 H 2642 CO during the consideration of H.R. 3 under the 5minute rule. Mr. Speaker. this has been cleared with the minority.
Date: 1987-04-29
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Chairman. I yield myself such time as I may consume. Mr. Chairman. I must rise to oppose this substitute. The Wylie substitute eliminates many tools contained in the committee bill essential to improving the international competitiveness of our Nation. For example. the Wylie amendment would eliminate the Council on Industrial Competitiveness. The Council provides business. labor. and Government with a process to develop and coordinate longrange strategies for assuring the international competitiveness of American industry. The Council would raise competitiveness issues to the top of our national agenda. No highlevel forum now exists in which key actors in our economy can deliberate together to offer advice regarding economic policies that will positively enhance our competitive position. The Wylie substitute also fails to adequately address the problem of developing country debt. The bill before us today proposes an approach which reduces debt payments and allows developing countries to purchase more U.S. produced goods. In contrast. the Wylie substitute calls for yet another study on developIng country debt. Frankly. Mr. Chairman. we dont need another study on this topic. The Congress. the administration. the international financial community and the debtladen countries themselves are keenly aware of this mounting problem. The committee bill requires the administration enter into meaningful negotiations with other countries to create a more innovative mechanism for relieving existing debt service burdens. By requiring equal but reasonable sacrifices from lenders and borrowers. we can achieve more rational international lending policies. economic growth. and greater political stability in developing countries. and a ready market for goods produced by American workers. The difference in approach between the Wylie substitute and the committee bill is clear. The committee bill provides our Nation with the tools for a more competitive American economy. The Wylie substitute removes those tools and calls for further study. The trade situation is simply too serious for delay. The provisons of the Banking Committee title are integral components of a comprehensive trade policy. I urge my colleagues to oppose the Wylie substitute.
Date: 1987-04-29
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Chairman. I yield 4 minutes to the gentleman from the District of Columbia . who is chairman of the Subcommittee on International Development Institutions and Finance.
Date: 1987-04-29
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Chairman. I yield 4 minutes to the gentlewoman from Ohio [Ms. OAKARI to close debate. someone who will talk common sense. refute the irresponsibility charge and bring some street smarts to it as well.
Date: 1987-05-04
Speaker: DE LUGO (democrat)
Chamber: H

Mr. Speaker. it iswith sadness that I rise to pay tribute to a former colleague. Delegate Antonio B. Won Pat of Guam. passed away of a heart attack on Friday. May 1. in Silver Spring. MD. Tony. as he was known by his many friends. died as he had lived: Serving the people of Guam whom he so loved. Only hours before his passing. I talked with him at a Senate hearing where he showed the old spark that made him so successful. I first met Tony In the late 1960s when he was Guams Washington representative. and I was serving the Virgin Islands in the same capacity. Together we worked on legislation which enabled our territories to. elect their own Governors and send Delegates here to the House of Representatives in 1973. That year. Tony and. I came together to Congress and. we continued to work as friends. Later. as chairman of the Subcommittee on Insular Affairs. I watched Tony use his wellhoned legislative skills to produce a remarkable series of omnibus bills benefiting Guam and other United States territories/ Today I am honored to chair the samesubcommittee as did my good -friend and adviser. Tony Won Pat. I am sure many of us here today can say we will deeply miss Tony. While he was small in stature. he was huge in spirit and accomplishment. We will .miss you Tony.
Date: 1987-05-05
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. I move to suspend the rules and pass the bill to limit the number of days a depository institution may restrict the availability of funds which are deposited in any account. as amended.
Date: 1987-05-05
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. let me say that I am well aware of the point of the gentleman is attempting to make. My views on the nonbank bank question are quite clear. and I have expressed them repeatedly in committee. on the floor. and In various public statements. In no way is the Expedited Funds Availability Act a nonbank bank bill. I have stated this on the floor during the 99th Congress in a colloquy with the distinguished gentleman from Ohio when we last addressed this issue. Let me reiterate this now. In the words of H.R. 28. as proposed. relating to the authority granted to the Board of Governors of the Federal Reserve System over the payment system as stated in section 6(b): "In order to carry out the provisions of this act. the Board of Governors of the Federal Reserve System shall have the responsibility to regulate* 0 * this act. period.
Date: 1987-05-05
Speaker: ST GERMAIN (democrat)
Chamber: H

who was pushing this legislation long before It was in vogue. I also want. to thank our ranking member. Mr. WiLEY from Ohio. for the impetus be has given to this legislation. Mr. Speaker. we see on this bill a large number of cosponsors. and these are Member that have worked hard on this legislation. We want to congratu-. late theri today. too. for their diligence and dedication. Much has been said of this being good consumer legislation and It is. Much has been said about keeping in step with the modem technology. and we are doing that. Much has been said about standardizing the rules. and I think with this legislation we are doing that. In Wisconsin. we have not had a great deal of a problem in this area. Probably. the overriding issue in my opinionand It hasnt been brought upis that of keeping the trust and confidence of the consumer and with the financial institutions. At the very foundation of our banking system there must be this trust and confidence. By passing legislation. I feel we are engendering that. That is the real merit of this legislation. Our financial institutions today are going through a tremendous welter of change. What is happening in banking today is going to happen to many institutions. So this is really. in a sense. vanguard legislation. For that reason. we take our hats off to the people that have been pushing this legislation. because with this. we are thinking anew and acting anew. What is happening in banking today is what is going to be happening in many. many Institutions that other committees will be experiencing. I hope that the other committees can look to the Banking Committee as the committee that is really the vanguard and setting the pace for future legislation.
Date: 1987-05-05
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. I checkholds. Most banks do not put holds on enactment of this bill. all checks drawn on the yield 1 minute to the gentleman from corporate checking accounts. but holds are U.S. Treasury. such as Social Security checks. Texas . a member of routinely imposed on those of individuals and will be available at the start of the business the committee. small businesses. Thus. current bank policy day after the day of deposit. The same is true
Date: 1987-05-05
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. I yield myself the balance of my time. Mr. Speaker. I would like to say this and give a few quick examples of why we are on the floor with this bill today. A gentleman goes to the bank with his Internal Revenue refund check. a Treasury check. He is told that it will be 20 days before he can write a check on that check. Now mind you. that is an Internal Revenue Service refund. Uncle Sam has already been using his and his wifes funds for a long period of time. Now he is told another 20 days. whereas in reality. according to the evidence presented to the committee. the bank had the money within 24 hours. the very next day. As a matter of fact. if a Treasury check is going to bounce. then the whole system has gone kaput. Another example. A minister deposits funds from his flock: checks in the amount of $3.500. cash in the amount of $3.000. He writes a check 2 days later for approximately $500. They bounce the check. Why? Because they said that those checks that he deposted had not cleared. My God Almighty. he also deposited $3.000 in cash. and he cannot even use his cash that his flock contributed to the church. That is why. Mr. Speaker. we are here today. I want to thank the gentleman from California for working on a compromise. the gentleman from Delaware for working on a compromise. the gentleman from Ohio for his support. and all the members of the committee on my side of the aisle who also over this long period of time have worked with me to fashion a piece of legislation that is fair to the financial institutions. but also fair to the consumer. This is an opportunity. Mr. Speaker. to say to our consumers. "We are here representing you. We are here to make sure that you get the use of your money. your hardearned dollars. in a timely fashion." And for that reason at the proper time I am going to ask for a record vote so that we can tell the Senate that this bill is important to the Members of the House.
Date: 1987-05-05
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. I thank the gentleman for yielding time to me. Mr. Speaker. I hope those people from Oklahoma know what they are doing. I hope they know what they are doing because in the State of Oklahoma we have some troubling S&Ls. And it is an insuring fund. I originally thought we could survive on five and two. However. as one who has to look at this responsibly. I did indeed change my mind. Let us remember the committee vote was originally 23 to 20 in the subcommittee. and then it was 24 to 23 in full committee. a 1vote margin on $5 billion for 2 years against $15 billion for 5 years. I would say to my colleagues that it is an insuring fund. Many institutions who are now yelling about the 155 are the very institutions that should have yelled at their State legislators and State regulators who allowed a lot of these institutions to run amok and run wild. Now the time has come to face the music. Remember. my colleagues. if we do not take this means using other than taxpayers funds to solve the dilemma. your taxpayers. your constituents may well end up footing the bill. I am sure you do not want to have to explain that one. Mr. Speaker. I do want to thank the Rules Committee for the rule that they have brought before us today. I would like to thank Mr. FROST and Mr. TAYLOR for their presentations. They were very accurate and precise presentations of the rule. I think it is a wellconstructed rule and it is a fair rule. It allows all the Members to vote one way or the other on the important. crucial issue of the 155 as opposed to the 5 and 2. without bringing in all kinds of other formulas that would really mess up this very. very delicately balanced funding proposition. Once again. I say "thank you" to the Rules Committee to my colleagues. I hope they will see fit to support this rule so we can get on with the debate and make the important decisions before the end of the day.
Date: 1987-05-05
Speaker: ST GERMAIN (democrat)
Chamber: H

I thank the gentleman for yielding. I want to say this: Never before has the spotlight been placed on a regulatory body. to wit the Federal Home Loan Bank Board. and FSLIC. as has occurred over the past 7 or 8 months and particularly since January of this year. We retained additional expert staff on the Committee on Banking. Finance and Urban Affairs who went into the field. They did determine that. yes indeed. arbitrary. capricious actions had been taken by the Home Loan Bank Board and for that reason we put in strong forbearance provisions. The amendment that I shall be offering In conjunction with Mr. WYLIE.
Date: 1987-05-05
Speaker: ST GERMAIN (democrat)
Chamber: H

I would like to bring up this point. The gentleman is from an area of the country. and in what he said he just struck a chord. The gentleman said there is support from all areas and all sections of the country.
Date: 1987-05-05
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Chairman. as the gentleman said. there is support from all sections of the country. I have had Members come up to me and say this: "Well. my S&Ls have called me. and they say they are not in any trouble. We dont have any problem in my section of the country." And I said. "Really?" Then I said. "Well. I am from the Northeast. where the Boston Regional Bank Board is located. and Ive got news for you. Weve never had any problems at any point. We run the most conservative S&Ls in the world. You know. they are the old New England Yankees." All right. We have had no problems there. but we recognize the fact that we are not living on a little island. that we are part of the insuring fund as a totality. and that is why we in New England and the Northeast are supporting 15 and 5.
Date: 1987-05-05
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Chairman. I think it is very important to realize that this is not a sectional or regional situation. but we are looking to the health of an industry that is national. and now and then we have to help other sections of the country. That is why I appreciated the gentlemans bringing out the point that support for this bill comes from all sections of the Nation.