macleginn/stanford_congress_record_longer_speeches huggingface dataset:
Date: 1981-10-22
Speaker: DE LA GARZA (democrat)
Chamber: H

Mr. Chairman. to conclude. I agree with the gentleman. HI 7681 But it is not the American farmer that is causing high Interest. It Is not the American farmer who has put us in the budget deficit that we are in. We cannot balance the budget on the back of the American farmer. We have hurt him enough. The American farmer is the only ray of light. Foreign countries are not buying our carsi. They are not buying our television sets. They are not buying our radios. They are not buying anything we produce. They are buying our agricultural commodities. That Is what they are buying abroad. And if you limit that. then you are limiting the receipt of income from abroad to the United States. So do not blame the American farmer for your deficit. Do not blame him for the high interest rates. I am not pointing the finger at anyone. But it has not been the American farmer that has Pitt us in the situation we aro In.
Date: 1981-10-22
Speaker: DE LA GARZA (democrat)
Chamber: H

Well. the gentleman can take his share of the blame and I will take my share of the blame. But let us not put It on the back of the American farmer. We need a 4year bill.
Date: 1981-10-22
Speaker: DE LA GARZA (democrat)
Chamber: H

Mr. Speaker. pursuant to House Resolution 235. I call up from the Speakers table a similar Senate bill to revise and extend programs to provide price support and production incentives for farmers to assure an abundance of food and fiber. and for other purposes. and ask for Its Immediate consideration.
Date: 1981-10-22
Speaker: DE LA GARZA (democrat)
Chamber: H

Mr. Speaker. I ask unanimous consen that all Members may have 5 legislative days In which to revise and extend their remarks and include extraneous matter on the Senate bill just passed.
Date: 1981-10-22
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. Prof. Milton Friedman. an economic guru of the administration. recently wrote of the mixed signals sent by the administration abiout Its commitment to wi~ining the battle against inflation. on the one hand. Professor Friedman points out. the administration "has taken the elimination of inflation as one of Its major objectives." The administration "has repeatedly warned the financial community that it will make a mistake if it counts on continued high Inflation." That Is what the public hears. However. If the public watches the administration act. the story Is vastly different. While administration spokesmen warn against inflationary expectations. Professor Friedman points out that-. The U.S. Treasury Department Is telling the financial community the precise oppositenot In words. but In actions.
Date: 1981-10-22
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. I will reserve the right to object. and I S 11914 CO thank the distinguished Senator from Massachusetts for protecting the leadership and the Members on our side of the aisle. Mr. President. would it be the intention to lay this bill. 8. 1503. before the Senate tonight and then lay it aside until Friday?
Date: 1981-10-22
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

The request read by Mr. HELMS provides for temporarily laying before the Senate 5. 1503. the Standby Petroleum Allocation Act. following the disposition of the pending business. and that then 8. 1503 be temporarily laid aside by noon tomorrow until Thursday. the 29th. So there is no objection on this side.
Date: 1981-10-23
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. I thank the majority leader. I accept his offer. If he should have need for some of the time back. I will yield it back.
Date: 1981-10-23
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. reserving the right to object. Would the distinguished majority leader include in his request that my amendment. -which has a limitation of 2 hours. be pending at that point? I should be willing to cut the time to 40 minutes equally divided. That makes sure that wc get off to a running start that day.
Date: 1981-10-23
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. will the distinguished acting Republican leader state. for the benefit of our colleagues. what the outlook for rollcall votes will be on Monday?
Date: 1981-10-23
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. I do not ask the distinguished acting Republican leader to respond or comment. but I express the hope at this time that there will be no rolicall votes before. say. 3 pm.. so as to accommodate our Members who might be coming from distances. That has become a kind of normal practice around here. and I say that realizing. of course. that nothing is in concrete and that if there must be votes. there will be votes. I simply want to express that for the RECORD.
Date: 1981-10-26
Speaker: F ORD (democrat)
Chamber: S

Second. I might add that I hope they can. I hope they can find some more money. We both agreed on one thing. It Is beyond the ability of these two companies to make It work and the Senator agreed with me. I agree with him that they should try to find some additional money. But the thing that we are losing sight of Is this Is the last solvent refined project on the market. and we are losing our option and the Senator wants us to close our option. I wish he would not do that. This country needs these in the worst kind of way. We talk about the ability to convert.
Date: 1981-10-26
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Reserving the right to object. regarding the reference to the rollcall vote on the Proxmire amendment. may I ask the distinguished Senator has that rollcall vote already been ordered?
Date: 1981-10-26
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Madam President. In response to the inquiry by the distinguished acting Republican leader. the following nominations are cleared on this side of the aislo: Beginning with the Department of Labor on the first page of the Executive Calendar and going through page 2 of that calendar.
Date: 1981-10-27
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. I move that the House resolve itself into the Committee of the Whole House on the State of the Union for the consideration of the bill to provide flexibility to the Federal Deposit Insurance Corporation. the Federal Savings and Loan Insurance Corporation. and the Federal Supervisory agencies to deal with financially distressed depository institutions.
Date: 1981-10-27
Speaker: ST GERMAIN (democrat)
Chamber: H

There is a very simple reason. In many instances. this Is why we had foreign banks that have taken over commercial banks in this country and in. some of the major money centers of this country. In many instances. there are not Institutions within. the given States that can indeed take over or merge with the Institutions that are in jeopardy. We have seen an example of It within the past 3 to 4 weeks. where an institution in the State of California that Is owned by a steel corporation. a holding company. took over and merged into it a savings and loan association In New York City. Westslde Federal. and with a savings and loan association In Miami. Fla.. known as Washington Federal. That is the answer to the gentlemans question.
Date: 1981-10-27
Speaker: ST GERMAIN (democrat)
Chamber: H

With all due respectand I do have a geat deal of respect for the chairman of the Conmmittee on Educationwhen the gentleman says we are giving the large banks the power to gobble up small banks. that Is a fiction that has been spread about this legislation.
Date: 1981-10-27
Speaker: ST GERMAIN (democrat)
Chamber: H

I have not yielded further. It is a fiction that has been spread by some of the small banks around this country through misunderstandIng. The legislation. as explained by the Rules Committee when they brought it to the floor earier this afternoon. applies to institutions of $2 billion or more in assets that are failing or are Jeopardized as a result of severe financial conditions. To say that the large banks are going to gobble up small banks is a lot of hogwash and a fiction that has been spread by those who should know better.
Date: 1981-10-27
Speaker: ST GERMAIN (democrat)
Chamber: H

I will yield for one further question. because I would like my Republican colleagues to have a little time. as well.
Date: 1981-10-27
Speaker: ST GERMAIN (democrat)
Chamber: H

The gentleman is not reading the bill properly. In the case of commercial banks. it Is not any. The commercial bank in question that is falling must have assets of $2 billionor more. This does not affect your typical country hometown bank. They are not Included In this legislation.
Date: 1981-10-27
Speaker: ST GERMAIN (democrat)
Chamber: H

Excuse me. I do not intend to yield further. The gentleman asked me a question. and I answered it. I would expect that the gentleman would have for me* the respect I always have for him. When he gives an Interpretation and an explanation of the legislation he brings to the floor. I take his word for it.. I am not up here to delude or to deceive anyone when I say to you that-& commerical bank. has to have $2 billion or more In member of the committee. the gentle.. assets and be in a severe depressed fi- man from Ohio . nancial condition for it to become sub- (Mr. STANTON of Ohio asked and ject to this legislation. I am reporting was given permisvion to revise and this fact actually and accurately to extend his remarks.) the gentleman In response to his ques- Mr. STANTON of Ohio. Mr. Chairtions. man. I strongly support this legisla-
Date: 1981-10-27
Speaker: ST GERMAIN (democrat)
Chamber: H

I yield to the on the Financial Institutions Subcomgentleman from Maryland. mittee. Mr. WYLIE. for their excellent work In shepherding this bill through 0 1515 our committee.
Date: 1981-10-27
Speaker: ST GERMAIN (democrat)
Chamber: H

Had the gentle-* gregate assets of over $25 billion. may man stayed a little further and heard reach a net worth of less than 1 perthe balance of the statement. the cent in the next year. According to the reason for It is that absent this legisla- Federal Home Loan Bank Board. some tion there is flexibility In certain areas savings and loan associations. with agthat the FDIC does not have in order gregate assets of $29 billion. will reach to- go in and assist the falling institu- a zero net worth in the comning year. tion to insure its continued existence. Over 1.000 credit unions are classified In addition. without this legislation. as problems by the National Credit they must rely on Individual agency Union Administration. Credit union Interpretation of existing law as to the liquidations in 1981 will exceed those full scope of their powers in certain In- of 1980. a year which saw an increase stances. We in this legislation circumn- of 41.4 percent in liquidations over the scribe it. We design parameters. What prior year. we want to do Is preclude a situation The regulators are united in their where they can take a mutual savings view of the necessity of emergency asbank In New York State and overnight sistance along the lines of H.R. 4603. convert it from a mutual to stock form The committee report includes stateand at the same time convert it to a ments from each of the financial instiretail bank operation and allow Mc- tutions regulators in support of this Donald Hamburgers. Exxon. the Bank legislation. At least one. Mr. Pratt of of Tushiba. Japan or Hong Kong to the FHILBB. supports the assistance come In and pick It up. provisions while urging broad asset
Date: 1981-10-27
Speaker: ST GERMAIN (democrat)
Chamber: H

As the gentle- gether. man knows. the role of the Fed is very We. as a committee. have deterlimited in this particular instance. mined that the questions of the However. as a result of a request by powers of financial institutions and inthe committee leadership and the dustry structure must be handled In a other regulators. the Federal Reserve separate procedure. This bill. H.R Board. through Mr. Volcker and his 4603. is directly tied to that procedure staff. coordinated the other drafting as part 1 of a 2part process. We of this legislation to address the severe Intend to move to part 2 shortly. and I financial crisis that exists In many of hope we can begin hearings early next our financial institutions. month.
Date: 1981-10-27
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Chairman. year. It Is narrow In scope and deat this point I would reserve the bal- signed. at the request of the regulaance of my time. tors. to respond in a limited way to a
Date: 1981-10-27
Speaker: ST GERMAIN (democrat)
Chamber: H

I would like in the few seconds remaining to state that this bill will not bring down interest rates. This bill will not help provide home mortgage money for home purchases and we do not claim that it will. Perhaps the effects of It in the long run might be salutary in this manner by helping thrift institutions to survive or to merge with other institutions. However. this bill will insure that we. the Congress. set the terms for merger activities. that we. the Congress. say to the Home Loan Bank Board and the Federal Savings and Loan Insurance Corporation (FSLIC). that are going around the cQuntry right now peddlina savings and loan associations that they are going to have to go intrastate first and foremost.
Date: 1981-10-27
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. I ask unanimous consent that section 1 be considered as read. printed in the RECORD. and open to amendment at any point.
Date: 1981-10-27
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Chairman. I offer technical amendments and I ask unanimous consent that they be considered en bloc since they relate to two different sections of the legislation.
Date: 1981-10-27
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Chairman. these are technical amendments to H.R. 4603 as the bill was reported from the committee. The amendments clear up two very minor technical and crossreference problems in the bill. It is my understanding these amendments are supported by the gentleman from Ohio . the ranking minority member. as well as the gentleman from Ohio . the ranking minority member on the subcommittee on Financial Institutions Supervision. Regulation and Insurance.
Date: 1981-10-27
Speaker: ST GERMAIN (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 and include extraneous material on the bill just considered.
Date: 1981-10-27
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. I do not have any need for time at the moment. I ask unanimous consent that I may reserve my time for a little while.
Date: 1981-10-27
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. the amendment that I am offering would correct an error that occurred during the passage of the supplemental appropriations. rescissions. and deferral bill. Public Law 9712. this summer. During consideration of that bill. an amount of $2.4 million was set aside for seven StatesAlaska. Hawaii. Oregon. Tennessee. Virginia. Washington. West Virginia. and. In addition. Puerto Rico and the District of Columbia. So it would be nine political Jurisdictions which had not yet received their fiscal year 1081 survey and planning grants from the historic preservation fund. The remaining funds In that account. other than this $2.4 million. were rescinded. So It is now apparent that the Information provided by the Department of the Interior was In error. This rescission actually took more funds than were unexpended. So this creates a situation of importance to the nine political entities which have already Incurred certain costs during fiscal year 1981 with the assurance that these costs would be reimbursed by the Federal Government. Let me add that. In incurring these costs. the States were acting on behalf of the Federal Government. My amendment Is designed to correct this deficiency and to permit die Secretary of the Interior to reimburse a portion of the expenses Incurred by these States. It Is my Intent that the Secretary provide $1.5 million of this 1982 appropriation to the nine Jurisdictions in the same ratio as the planning and survey grants were originally earmarked. and that these States and territories may apply 1981 costs to match these grants. I am Informed that the State historic Preservation officers unanimously endorsed this position at the Septcziiber 12. 1981. board meeting This amendment will still leave $25 million to cover 1982 costs of all States and other entitles Including the national trust: so. I urge the adoption of this amendment In the Interest of fairness.
Date: 1981-10-27
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. I thank both of the distinguished managers for their support. and I yield back the remainder of my time.
Date: 1981-10-27
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. I thank the distingu!shed Senator from Idaho for his reference to me. In turn. may I express my appreciation to him for the courtesies that he has shown to me and for the splendid cooperation that I have been given and for his excellent leadership as chairman of the Subcommittee on Interior Appropiriations. He has been at all times most considerate and very helpful. and I am thankful for this. I also wish to commend Mr. JOHNSTON for his skill and dedication as he has worked In the Chamber to manage the bill. I personally appreciate it. and I wish to say that I think that the Senate Is In his debt.
Date: 1981-10-27
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. I take the floor at this time to inquire of the distinguished majority leader what the program Is for tomorrow and for the remainder of the week.
Date: 1981-10-27
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. does the distinguished majority leader say that on Friday the Senate will consider either the Transportation appropriations bill for the District of Columbia aparopriations bill?
Date: 1981-10-27
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. these are all relief bills. and there Is no objection on this side of the aisle to proceeding to action on them.
Date: 1981-10-27
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

Mr. President. the minority Is ready to proceed. The Senate proceeded to consider the resolution (S. Res. 226) waiving section 402(a) of the Congressional Budget Act of 1974 with respect to the consideration of S. 1716. which was considered and agreed to. as follows: S. Rss. 228 Resolved. That pursuant to section 402(c) of the Congressional Budget Act of 1974. the provisions of section 402(a) of such Act are waived with respect to the consideration of S. 1716. to amend the Clean Water Act and authorize funding for wastewater treatment construction grants program. Suich waiver Is necessary to permit consideration of a fiscai year 1982 authorization of appropriAtions to carry out the purpose of S. 1718. Su6h waiver Is necessary as S. 1718 was not reported before May 15. 1981. as required by section 402(a) of the Congressional Budget Act of 1974. Additional time was required to conduct a comprehonsive reexamination of this multiblillondollar pollution abatement program as a result of the fiscal year 1981 rescission and the repeal of the previously enacted su-
Date: 1981-10-27
Speaker: ROBERT C. BYRD (democrat)
Chamber: S

I move to lay that motion on the table. IThe motion to lay on the table was agreed to. The title was amended so as to read: A bill to foster greater coordinat ion and sharing of healthcare resources between the Veterans Administration aind the Department of Defense. and to amend title 38. United States Code. to authorize appropriate coordination and sharing of such healthcare resources.
Date: 1981-10-28
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Speaker. I move that the House resolve itself Into the Committee of the Whole House on the State of the Union for the further consideration of the. bill to provide flexibility to the Federal Deposit Insurance Corporation. the Federal Savings and Loan Insurance Corporation. and the Federal supervisory agencies to deal with financially distressed depository institutions. and pending that motion I ask unanimous consent to In one instance Include extraneous material during the debate on the bill.
Date: 1981-10-28
Speaker: ST GERMAIN (democrat)
Chamber: H

Mr. Chairman. during yesterdays general debate. freqjuent reference was made to the acquisition of Westside Federal of New York City and Washington Federal of Miami by Citizens Savings and Loan Association of California. Citizens Is. of course. a wholly owned subsidiary of National Steel Corp. Part of the Justification for the enactment of H.R. 4603 is to insure that Interstate acquisitions of this nature do not take place until every reasonable effort Is made to secure an intrastate solution. Initially among like institutions wherever possible. The gentleman from Georgia advised the House of recent FSLIC Interstate hustling efforts in Georgia notwithstanding the apparent ready availability of an Intrastate solution in his compelling argumnent in support of H.R. 4603. 1Iinclude at this point in the RECORD an October 22 article appearing in the American Banker describing in great detail FSLIC Director Beesleys road show seeking interstate merger partners for ailing thrifts with no apparent effort being made for Intrastatelike Institution solutions as required by H.R. Failing thrifts are not toys In the playpen of the Federal Home Loan Bank Board and the Federal Savings and Loan Insurance Corporation. Congress by Its passage of H.R. 4603. will clearly accept the responsibility for providing appropriate guidelines during the difficult days that lie ahead for many of our financial Institutions.
Date: 1981-10-28
Speaker: ST GERMAIN (democrat)
Chamber: H

The Chair has answered this question previously. but will be happy to respond again. The Chair has answered that question to the gentleman from Illinois In the subcommittee on numerous occasions and in the full committee on numerous occasions. Yesterday afternoon. as appears at page H7797 of the CONGRESSIONAL RECORD for October 27. 1981. the Chair. In the first column. answered that question for the gentleman from Texas. the distinguished
Date: 1981-10-28
Speaker: JAMES MATROX (democrat)
Chamber: H

I have answered it. Now. I would say to the gentleman that I was amused by those who said. "Huh. rush this bill through." the one before us. I remember the usury bill. We had hearings that went on a day and a half. and we had a vote the second day in subcommittee. I did not think we rushed it through..I thought we had thorough hearings. This bill before us had much more thorough hearings.I So I hope that In the future. before saying that the chairman has rushed something through. that Members will first analyze and look at other items. They will find that the Chair does not rush items through. I make that point because. If we are going to adopt further legislation in the area of financial Institutions. it will be done under tier 2this Is tier 1where we will begin with the discussion principles and have thorough hearings before the* full committee and then assign various elements to the subcommittees of Jurisdiction in the House Banking Committee. as well as. If necessary. other committees and subcommittees of other major committees. So I assure the gentleman. ther e Is no attempt to rush anything. and there will be no agreement on the part of this Member to Christmastree the legislation before us.