Commodity Markets Transparency and Accountability Act of 2008
COMMODITY MARKETS TRANSPARENCY AND ACCOUNTABILITY ACT OF 2008 -- (House of Representatives - September 18, 2008)
Mr. LARSON of Connecticut. Mr. Speaker, let me begin by commending this legislation and, more specifically, commending the work of COLLIN PETERSON and BOB GOODLATTE. You are a stellar example of what bipartisan cooperation should be like in this Chamber. Anyone who's witnessed how you have handled the agricultural bill and now this issue begins to deepen your appreciation for the way that you conduct yourself. It's a model for the Congress.
I'd also like to commend my colleagues ROSA DELAURO and CHRIS VAN HOLLEN for the legislation that they contributed to this piece of legislation, and probably the most comprehensive piece of legislation put forward by BART STUPAK who has been an advocate for this for several years. I want to also add FRANK LOBIONDO who assisted in a bipartisan way with this legislation.
But essentially, this came from Main Street and from independent oil dealers who recognize that the laws of supply and demand have been suspended and that what we needed to do was address this issue very forthrightly, but with the cautious manner which Mr. Peterson has laid out.
I'm delighted that included in the bill is an effort to make sure that there's an Inspector General----
The SPEAKER pro tempore (Mr. Ross). The time of the gentleman has expired.
Mr. PETERSON of Minnesota. I yield the gentleman an additional 30 seconds.
Mr. LARSON of Connecticut. I thank the chairman.
I'm specifically delighted that there will be an independent Inspector General within the CFTC. This is vitally important to make sure that the kind of oversight that we all desire is going to take place.
I want to further commend John Mitchell, former Republican mayor in South Windsor; his brother, Billy; and Gene Guilford; and the Independent Petroleum Council who came to us with this issue primarily because citizens were coming to them and having to exchange their entire Social Security check in order to get oil for themselves.
Again, I commend the chairman and thank him for the time.
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