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6210 CONGRESSIONAL RECORD—SENATE, Vol. 156, Pt. 5 April 26, 2010 SENATE—Monday, April 26, 2010 The Senate met at 2 p.m. and was The legislative clerk proceeded to In light of the extraordinary effort called to order by the Honorable MARK call the roll. we have seen from the Republican lead- R. WARNER, a Senator from the Com- Mr. REID. Mr. President, I ask unan- ership, it will force each Senator to monwealth of Virginia. imous consent that the order for the publicly proclaim whether party unity quorum call be rescinded. is more important than economic secu- PRAYER The ACTING PRESIDENT pro tem- rity. I know many on the other side The Chaplain, Dr. Barry C. Black, of- pore. Without objection, it is so or- would like to pretend that is not what fered the following prayer: dered. is at stake. But we are not fooled and Let us pray. f neither are the American people, two- thirds of whom we learned today sup- Lord, God, our Heavenly Father, You SCHEDULE continue to open to us new horizons of port cracking down on Wall Street. hope. We praise You that our daily Mr. REID. Mr. President, following This past weekend I was in four dif- work is intended by You as a blessing my remarks and those of Senator ferent counties in Nevada. I heard the and not a burden. Lord, we do not ask MCCONNELL, we will go to a period of same thing everywhere I went, from ev- that all difficulties be removed but for morning business until 3 p.m. with eryone with whom I spoke. They said: strength and wisdom to handle them. Senators permitted to speak during Get this done. So many Nevadans are Give our lawmakers enough faith to that period of time for up to 10 minutes suffering because of the mess Wall live this day with courage. Help them each. Following morning business, the Street created, and they know better to be steadfast in the face of tempta- Senate will resume consideration of than anyone that we have to fix it. Democrats agree. tion and earnest in working for liberty. the motion to proceed to S. 3217, the That is why we stand for guaran- Fill their hearts with Your spirit that Wall Street reform legislation. At 5 o’clock the Senate will proceed to vote teeing taxpayers that they will never they may run the race of life with high again be asked to bail out big banks honor. on the motion to invoke cloture on the motion to proceed. and that no Wall Street firm can be- We pray in Your matchless Name. come too big to fail. Amen. f Democrats stand for giving families f FINANCIAL REGULATORY REFORM more control over their own finances and for giving consumers more clarity PLEDGE OF ALLEGIANCE Mr. REID. Mr. President, last week, I criticized the Republican leader for the so they can make the right financial The Honorable MARK R. WARNER led way he was handling Wall Street re- decisions. the Pledge of Allegiance, as follows: form. I even criticized him for a series Democrats stand for protecting the I pledge allegiance to the Flag of the of meetings he held in New York and life savings of hard-working Americans from Wall Street’s gambling. We stand United States of America, and to the Repub- the result of the meetings. I want the lic for which it stands, one nation under God, for making our financial system more record to be very clear, however, that I indivisible, with liberty and justice for all. transparent so we can rein in risky in no way was impugning the integrity f bets before it is too late. of my friend from Kentucky. In short, Democrats stand for bring- APPOINTMENT OF ACTING The senior Senator from Kentucky ing more accountability and trans- PRESIDENT PRO TEMPORE and I have fundamental policy dif- parency to Wall Street. As far as I can ferences on a number of issues, but no The PRESIDING OFFICER. The tell, the only thing Republicans stand one should take my disagreement with for is standing together. They boasted clerk will please read a communication my friend to question his honesty. to the Senate from the President pro about banding together at this time at Wall Street reform is as complex as all costs, even at the cost to our na- tempore (Mr. BYRD). the financial instruments that fueled a The legislative clerk read the fol- tional economy. But a party that worldwide recession. But voting to stands with Wall Street is a party that lowing letter: start on the Wall Street reform is as U.S. SENATE, stands against families and against simple as right and wrong. This bill fairness. Among the many reasons we PRESIDENT PRO TEMPORE, and the debate are about the ability to Washington, DC, April 26, 2010. need to reform Wall Street is that To the Senate: trust our financial system again. They those who work there have conspired Under the provisions of rule I, paragraph 3, are about giving families the peace of for too long under the cover of dark- of the Standing Rules of the Senate, I hereby mind that they will be able to keep ness. They have acted recklessly be- appoint the Honorable MARK R. WARNER, a their homes, that their savings will be cause they know they will not be held Senator from the Commonwealth of Vir- safe. accountable for their risks. ginia, to perform the duties of the Chair. We have a responsibility to bring ac- They do not think twice about using ROBERT C. BYRD, countability to Wall Street because President pro tempore. working families as pawns in a get- each of us is accountable to the Amer- rich-quick scheme. I would direct ev- Mr. WARNER thereupon assumed the ican people. We owe our States’ con- eryone to read the best seller, ‘‘The Big chair as Acting President pro tempore. stituents and our Nation’s taxpayers Short,’’ by Michael Lewis. It is stun- f the promise that they will never again ning in describing what they do with have to endure a financial crisis such our money on Wall Street. RECOGNITION OF THE MAJORITY as the last one. When you come to Nevada to gamble LEADER Today, the vote to begin debate on at one of the casinos, you are at least The ACTING PRESIDENT pro tem- Wall Street accountability will answer gambling with your own money. The pore. The majority leader is recog- many questions. It will reveal who be- people on Wall Street are gambling nized. lieves we need to strengthen oversight with our money. We know Wall Street Mr. REID. Mr. President, I suggest on Wall Street and who does not. It does not like this bill. Of course it does the absence of a quorum. will demonstrate who believes we need not. It changes the system big bankers The ACTING PRESIDENT pro tem- to strengthen the protections of con- and hedge fund managers have taken pore. The clerk will call the roll. sumers and who does not. advantage of for years. ● This ‘‘bullet’’ symbol identifies statements or insertions which are not spoken by a Member of the Senate on the floor. VerDate Mar 15 2010 13:44 May 31, 2013 Jkt 089102 PO 00000 Frm 00001 Fmt 0686 Sfmt 0634 E:\BR10\S26AP0.000 S26AP0 pmangrum on DSK3VPTVN1PROD with BOUND RECORD April 26, 2010 CONGRESSIONAL RECORD—SENATE, Vol. 156, Pt. 5 6211 Look at the rules of the road on Wall And Republicans are conscious of come down too. Yet now we are learn- Street. Traders get to gamble away something else this afternoon too: ing that premiums will keep going up. someone else’s money with little risk when it comes to fixing the problems Pick the issue. Whether it is the and large reward. They get to take that we see in the economy or in our stimulus, the debt, health care, bail- home their winnings and ask taxpayers healthcare system or anywhere else, outs, you name it, the concerns Repub- to save them from their losses. That is the days of taking the Democrats’ word licans raised are being validated. And how the system worked when they for it are over. Democrats have the nerve, in this de- brought our economy to the brink of There is a reason public confidence in bate, to say that we are the ones who collapse. government has slipped to one of its are being dishonest. Sadly, today the problem is it is still lowest levels in half a century, and it is As I said, all of us want to deliver a the way the system works. That is not because Congress takes its time to reform that will tighten the screws on what we are going to correct with this get legislation right. The reason Amer- Wall Street. But we are not going to be legislation, a bill that is the product of icans are so mistrustful of government rushed on another massive bill based months of bipartisan discussions, a bill at the moment is because on issue after on the assurances of our friends on the that embraces Republican ideas and issue, they feel as though they are other side. It is just this kind of rush Democratic ideas. being sold a bill of goods. The reason that gets us a $13 trillion debt, a tril- This afternoon’s vote is a vote mere- there is such a serious trust deficit out lion dollars for turtle tunnels and side- ly to begin debate; it is not the end of there is because what Americans see is walks to nowhere, and a so-called the process, just the beginning.

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