[Congressional Record Volume 147, Number 151 (Monday, November 5, 2001)]
[Senate]
[Page S11435]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                           HOLD TO H.R. 3211

  Mr. GRASSLEY. Mr. President, I would like to inform my colleagues 
that I have lodged an objection to the Senate proceeding to H.R. 3211 
or any other legislation dealing with financial netting contracts 
inside and outside of bankruptcy. While I support these changes to 
financial netting, I strongly believe that these changes must be 
enacted as a part of the comprehensive bankruptcy reform bill. I would 
hate to see the opponents of bankruptcy reform our financial markets at 
risk solely to satisfy the ideological objections of some members of 
Congress.
  My advice to those advocates of a netting-only bill is that if they 
would put as much effort into getting the entire bankruptcy bill passed 
as they have put into the separate netting bill, the netting provisions 
would have been law months ago.

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