[Congressional Record Volume 156, Number 109 (Thursday, July 22, 2010)]
[House]
[Page H5925]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




         FINANCIAL REFORM BILL--A STIMULUS FOR MORE GOVERNMENT

  (Mr. STEARNS asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. STEARNS. Mr. Speaker, when Congress passes a 2,000 plus-page 
bill, it's not all that surprising to find objectionable items tucked 
away in the pages. Such is the case with the Dodd-Frank financial 
reform legislation. This bill creates many new financial regulatory 
offices for the very same Federal regulators who failed to foresee the 
financial collapse in 2008.
  With this bill, Congress is giving the American people the gift of 
more bureaucracy with: an Office of Financial Research, a Financial 
Stability Oversight Council, 20 Offices of Minority and Women 
Inclusion, a Federal Insurance Office, an Office of Fair Lending and 
Equal Opportunity, an Office of Investor Advocate and Ombudsman, and a 
Consumer Financial Protection Bureau. It goes on and on with new czars.
  Note that the problems with Fannie Mae and Freddie Mac are not even 
addressed. Yet these agencies were the cause of this economic crisis. 
So this bill is nothing more than a stimulus for more government.

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