House Proceeding 04-01-09 on Apr 1st, 2009 :: 2:09:15 to 2:12:10
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2:09:11 to 2:09:32( Edit History Discussion )

Barney Frank: committee, expressed strong reservations about this bill and about it affecting all employees. and at this time, i would like to yield the remaining time. mr. frank: how much time has been yielded to me? mr. bachus: all remaing time. the chair: the gentleman from georgia has two minutes remaing.

2:09:15 to 2:12:10( Edit History Discussion )
Speech By: Barney Frank

2:09:33 to 2:09:53( Edit History Discussion )

Barney Frank: and i understand that the gentleman from alabama has yielded that two minutes to you, mr. chairman. the gentleman from new york has one minute remaining and reserves the right to close. mr. frank: i thank the gentleman from balm for a sense of fairness that i wish would have been more present in the house. we are here talking in part

2:09:54 to 2:10:17( Edit History Discussion )

Barney Frank: about retro activity. again, this raises the central issue. people on the republican side have been ock to a provision added in the recovery bill that said no retro activity. this does that again. so i do not understand if people were genuinely opposed to the amendment added to the recovery

2:10:18 to 2:10:38( Edit History Discussion )

Barney Frank: bill, they cannot consistently be supportive of this amendment. the principle is the same. the principle of no retroactivity a terrible abuse of the taxpayer or is it a matter of fairness? it can't be both. so members who vote for this amendment are votingo ratify what was done in the recovery bill.

2:10:39 to 2:10:59( Edit History Discussion )

Barney Frank: if it passes, then people will not be able to argue that the recovery bill without giving members a chance to vote, took away an important part of the restriction, because that's the question. and it's more than retroactivity in that sense although the gentleman wanted to modify the amendment and i didn't think it was appropriate. it even would allow some

2:11:00 to 2:11:20( Edit History Discussion )

Barney Frank: restriction on what you can do going forward depending on when people took the tarp money. it says this would only apply as written -- and i know the gentleman wanted to modify it -- if you now h don't refuse it, you're not covered by this. the amendment said if you have

2:11:21 to 2:11:44( Edit History Discussion )

Barney Frank: tarp money and decide to keep it, you're not covered by this. it's far too broad. it says only those companies that now decide to take an infusion under tarp would be restricted. i didn't think that was appropriate at the last minute. the other part is this, the gentleman says he wantto allow -- he wants to protect anything already done.

2:11:45 to 2:12:06( Edit History Discussion )

Barney Frank: he wants to ban retroactivity. that's what has gotten everybody excited about what the senate put in the recovery bill. the chair: the gentleman's time has expired. the gentleman from new york. >> i make a unanimous consent request. >> i request to address the

2:12:07 to 2:12:11( Edit History Discussion )

Barney Frank: house for 30 seconds. the chair: is the gentleman