[Congressional Record Volume 157, Number 115 (Thursday, July 28, 2011)]
[Extensions of Remarks]
[Page E1436]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




           IMPACT OF INSURED DEPOSITORY INSTITUTION FAILURES

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                               speech of

                           HON. CORY GARDNER

                              of colorado

                    in the house of representatives

                         Tuesday, July 26, 2011

  Mr. GARDNER. Mr. Speaker, thousands of local community banks operate 
across the country, making a valuable contribution to America's 
economy. Colorado has a rich history of community banking, where small 
business owners and employers can do business with a bank they know and 
trust, and people know that the money they deposit is being redeployed 
into the community by an institution that wants to see the community 
succeed as much as they do.
  That shared interest in the community has traditionally led local 
banks to act in a responsible manner and shield themselves from 
systemic problems, but they are not immune from tough times. 
Unfortunately, federal regulators are forcing community banks in 
particular to fight through the rough economy with one hand tied behind 
their backs.
  In short, we must increase bank lending to improve the economy, but 
regulators are preventing such lending by forcing banks to hoard 
capital, and by prohibiting community banks from effectively working 
with their borrowers. We cannot expect to reinvigorate the economy 
while this is the case.
  Congress has been considering this problem since 2009, and it is time 
for action. It's been two and a half years since the fall of 2008, and 
yet we are still facing high unemployment, a weak dollar, and a 
sluggish economy. It is time to move forward, and we know that to move 
forward we need to stimulate lending. That is why I support this bill.

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