Restoring American Financial Stability Act Of 2010 - Motion To Proceed
Floor Speech
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Mr. McCONNELL. Reserving the right to object, and I will object, here we go again. The majority leader is once again moving to a bill, even while bipartisan discussions on the content of the bill are still underway.
Just about an hour ago, the majority leader said:
I'm not going to waste any more time of the American people while they come up with some agreement.
Well, I do not think bipartisanship is a waste of time. I do not think a bill with the legitimacy of a bipartisan agreement is a waste of time.
Is it a waste of time to ensure that the taxpayers never again bail out Wall Street firms? Is it a waste of time to ensure that the bill before us does not drive jobs overseas or dry up lending to small businesses? Is it too much to ask, should an agreement be reached, that we take the time to make sure every Member of the Senate and our constituents can actually read the bill and understand the details?
This bill potentially affects every small bank and lending institution in our country. It has serious implications for jobs and the availability of credit to spur economic growth. It has important consequences for the taxpayers, if done incorrectly.
I think Americans expect more of us. I think they expect us to take the time to do it right. I would add, my impression was that serious discussions were going on. I think they should continue. Therefore, Mr. President, I object.
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Mr. McCONNELL. Mr. President, I would only add, briefly, that Senator Dodd and Senator Shelby are on the floor. I would encourage them to continue to do what they have been doing, which is to try to reach an agreement.
The only place where I would disagree with my good friend, the majority leader, is I think it does make a difference which bill we turn to. Hopefully, the bill we turn to will not be a bill that came out of the committee on a party-line vote but, rather, a bill negotiated on a bipartisan basis by those who know the most about the subject: Senator Dodd, Senator Shelby, and the members of their committee.
It is still my hope we will be able to go forward on a bipartisan basis, and I look forward to hearing from Chairman Dodd and Ranking Member Shelby about the progress they make.
I yield the floor.
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