Floor Statements
Floor Statements
Mr. CAMPBELL. Mr. Chairman, I would like to have a colloquy with the chairman of the committee.
Mr. Chairman, the Emergency Economic Stabilization Act was intended to apply to financial institutions, I believe, without regard to their form of ownership: public, private, mutual associations. Is that your understanding? Is that correct?
Mr. FRANK of Massachusetts. If the gentleman will yield, Mr. Chairman, heand#39;s absolutely correct. The form of ownership should have no relevance to the decision here.
Mr. CAMPBELL. Madam Speaker, there is a lot of talk these days about rescue plans and bailouts and TARP and stimulus packages. Letand#39;s take a minute to reflect on what has happened. Back in October we passed, and the President signed, a rescue plan which created the Troubled Asset Recovery Plan, so-called TARP.
Mr. CAMPBELL. I thank the gentlelady for yielding.
I have heard a long parade of Members come up here and talk about how somehow the fact that the financial markets did not collapse in October is somehow prima facie evidence that the rescue program was not needed. In fact, precisely the opposite is true. These financial markets would have collapsed in October or November were it not for the rescue program, or the TARP program as we know it today, in conjunction with very aggressive action by the Federal Reserve.
Congresswoman Matsui is a very active Member of Congress, and is consistently speaking on the House floor about the issues most important to her consistuents. Below are some of the floor speeches that the Congresswoman has made this year, during the 113th Congress:
October 23, 2013 - Supporting WRRDA, legislation that includes authorization for the Natomas Levee Improvement Project