[Congressional Record Volume 164, Number 86 (Thursday, May 24, 2018)]
[Senate]
[Pages S2893-S2897]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
Memorial Day
Mr. CORNYN. Mr. President, this weekend, we honor those who have
fought on the frontlines in battle and made the ultimate sacrifice on
behalf of the United States of America. These men and women represent
America at its best--a nation that is restless and unwavering in
combating tyranny, that facilitates peace, and defends human rights and
individual liberty across the globe; a nation that is unafraid to call
evil by its name and then works to eradicate it through force, if
necessary, even at great cost to itself and its own people.
Today, in advance of the holiday weekend, I say thank you to the
200,000 military men and women who are stationed in my State, the State
of Texas, and to the 1.7 million veterans who call Texas home.
Thank you for having served over the course of so many years in the
face of so many dangers and at such great individual sacrifice.
Of course, many of their predecessors gave their lives defending this
country on the bloody fields of Gettysburg, in the trenches of the
Western Front, during the storming of the beaches at Normandy, and
during the Shock and Awe in Baghdad. These are just some examples, each
of them unique but none of which we should ever forget.
We must also thank the military families of those warriors. I pray
they find peace on Monday, when many of them will place flowers on
military grave sites and speak privately to their loved ones who have
passed on.
In just a few days, I will have the chance to speak to young Texans
who thought hard about their futures and the future of our country and
decided they want to attend our U.S. military academies. These talented
high school students are the cream of the crop. They have been accepted
to our Nation's five prestigious military service academies, and they
will be gathering together, on Monday, in San Antonio.
Even though I am not the one who has nominated all of them, we invite
everyone who has been nominated--and their families--to come to this
academy sendoff. This sendoff is something I look forward to each year
because it is an inspiration to me. At a time when people talk about
the next generation and America's future, they reassure me that our
country still produces talented, patriotic young men and women who want
to serve their country and want to preserve our freedom. Meeting these
young people who are making such bold and selfless decisions speaks
well of the character of our Nation's next generation.
Then I will be heading down to Georgetown, TX, which is just outside
of Austin, to a community called Sun City, which has a large veteran
population. There, I will join in celebrating Memorial Day in a place
where patriotism is not a dirty word. In Sun City, it is not an act
either. Loving one's country and honoring fallen soldiers is simply a
given, and I know there will be a lot of American flags on full
display.
In the few days leading up to Memorial Day, we should also reflect on
our duty as Members of Congress and as a nation to support our military
servicemembers and their families and ask whether we are living up to
our end of the bargain in Washington, DC.
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Just yesterday, we took a very important step in that regard by
passing the VA MISSION Act, which includes some of the most substantial
reforms to the veterans' healthcare system that have been made in
years.
It lowers the barriers to care for veterans and gives them more
treatment options. It also simplifies the bureaucratic system of
community care programs and streamlines them from seven to one. It
expands the family caregivers program, which I became convinced was
important after having visited wounded warriors at Walter Reed.
Frequently, because of the catastrophic injuries they have suffered, a
spouse has had to quit his or her job and basically tend to the needs
of that wounded warrior, just as a practical matter, and provide
assistance in addition to the medical care that has been received.
Expanding the family caregivers program is, I think, a step in the
right direction.
In this bill, we also address opioid prescription guidelines for
outside providers and encourage the hiring and retention of more
Veterans Health Administration healthcare professionals.
So there is a lot to talk about when we go home for Memorial Day, and
I look forward to talking to our Active-Duty military and our veterans
and to demonstrating that we are doing more than just talking about it;
we are actually doing something that will make a difference in their
lives.
Upon our return, I am also looking forward to continuing our hard
work on the National Defense Authorization Act, which is something the
Presiding Officer is intimately involved in, which was marked up
yesterday in the Armed Services Committee.
For 57 straight years, a Defense authorization bill has been signed
into law by Presidents of both parties and through the hard work of
congressional majorities that have been led by both parties. This
year's legislation will help ensure our military has what it needs to
achieve the most difficult missions they have ever faced and to embark
on those that will inevitably arise tomorrow.
I have spoken quite a bit about the China threat recently at this
podium, and that country bears mentioning again, right now, because of
its connection to the Defense Authorization Act.
As the chairman of the House Armed Services Committee said recently,
it is ``[i]n the Indo-Pacific region [where] the United States faces a
near-term, belligerent threat armed with nuclear weapons and also a
longer-term strategic competitor.''
China is that longer term strategic competitor, of course, and that
is what Congressman Mac Thornberry was talking about. Yet we can't just
stop with China and North Korea. We need to talk about Russia, Iran,
and the civil war and terrorist threat arising out of Syria and the
Middle East.
All of those are important in our deliberations on the Defense
authorization bill because the NDAA prioritizes military readiness
across the globe where American leadership remains indispensable. It
promotes security and stability in the Indo-Pacific, particularly
through military exercises with our allies, and it improves Taiwan's
defense capabilities while we keep our commitment to Taiwan that was
established a long time ago.
The Defense authorization bill is important for reasons that hit much
closer to home as well. In past years, this bill has authorized needed
improvements at Texas military facilities like Fort Hood, Joint Base
San Antonio, the Red River Army Depot, and Ellington Field. It has also
given our troops a much needed pay raise and updated advanced aircraft,
ships, and ground vehicles. All of these have implications in Texas.
As we get closer and closer to Memorial Day, let's remember what our
Armed Forces have given for us, including their very lives, and
everything they have given to us, which is our freedom that we enjoy
every day.
Let's make sure we keep up our end of the bargain here in Washington
with legislation like the VA MISSION Act and the Defense authorization
bill and at home with our patriotism and our frequent signs of
appreciation for their service to our great country.
The PRESIDING OFFICER. The Senator from Indiana.
Mr. DONNELLY. Mr. President, I thank my colleague from Texas for his
inspiring words and for his devotion to Texas veterans and to American
veterans across our country.
As we approach Memorial Day, this is a time to honor our fallen
soldiers and to reflect on the enormous sacrifices the men and women in
uniform have made for us who were killed while serving this Nation.
Mr. President, I rise to recognize the service and ultimate sacrifice
of four Hoosier servicemembers who gave their lives in defending our
country in the last year. The sacrifices of Ryan Lohrey, Jonathon
Hunter, Mark Boner, and Clayton Cullen will not be forgotten.
In July 2017, we lost Navy Corpsman Ryan Lohrey. He died with 15
other servicemembers when a military refueling aircraft crashed in a
soybean field in Mississippi. He was 30 years old.
Born in Anderson, Ryan was described as selfless and patient and
humble. He played football at Shenandoah High School in Middletown,
where he graduated in 2005. Two years after graduation, Ryan joined the
Navy and served our country in deployments to Afghanistan and Iraq.
During his service, he earned a Purple Heart for being wounded in
battle.
Last August, Army SGT Jonathon Hunter was killed in Afghanistan.
Jonathon was born in Columbus. He was a man of faith who loved his
country and his family. Before joining the Army, Jonathon played
football at Columbus East High School and then pursued his dream of
becoming a music producer before enrolling at Indiana State University
in Terre Haute.
He left college to join the Army. He was 23 years old and just 32
days into his first deployment when he and a fellow soldier were killed
in a suicide bombing attack on a NATO convoy in southern Afghanistan.
Jonathon was posthumously awarded a Purple Heart as well as a Bronze
Star.
In January, we lost SFC Mark Boner of the Indiana Army National
Guard. Mark was born in Fort Wayne. After graduating from Elmhurst High
School in 1993, he answered the call to serve his country.
Mark enjoyed being at the lake, and he was a fan of the Notre Dame
Fighting Irish. He served in the Army and in the Indiana National
Guard. Mark had completed tours in both Iraq and Kuwait and died at
Fort Hood, TX, where he was training for his third deployment for his
country. He was only 43 years old.
Also in January, we lost another Hoosier: Army 1LT Clayton Cullen, of
Bicknell. Clay graduated from North Knox High School in 2011, where he
played soccer and served as student body president. After high school,
he earned a degree from Indiana University and was in the school's ROTC
program.
Clay was 25. He died when the helicopter he was aboard with another
servicemember crashed at the National Training Center at Fort Irwin,
CA.
Each of these courageous men has left behind family, friends, and
loved ones who miss them every day, miss them more tomorrow, and even
more the following day.
As we pay tribute to these servicemembers, let us also recognize
their families. Our hearts go out to every one of them, not only on
Memorial Day but every day. At everything from family dinners and get-
togethers to holidays, someone is missing their husband, their father,
their brother or son. There is an empty seat that every heart wishes
was filled.
While nothing could ever fill the void left by the loss of these
servicemembers, their legacies live on through their families. The
people I speak about represent not only the best of Hoosier values but
of America's values. They serve their country so that we all can be
safe, so that we all can be secure, so that we all can have our freedom
protected. We grieve for them and we miss them. I join every Hoosier in
praying for their friends, family, and fellow servicemembers.
On Memorial Day, we will pause to commemorate the extraordinary
sacrifice so many men and women in uniform from across our State and
Nation have made. Every day, in conflict zones across the world,
American servicemembers put themselves in harm's way. We thank them for
their courage
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and bravery, and we remember the patriots who lost their lives and
exemplified the very best of what our country is and can be.
One other note, I remember a few years ago when I was driving through
Starke County, IN. It was early in the morning on Memorial Day. I drove
through the town of Walkerton, IN. It was early in the morning. In the
town cemetery there were a couple of dads and moms and their children.
They were putting flags on every veteran's grave who had served our
country and devoted their lives to our Nation. That scene that I saw
was being duplicated in towns all across my State and all across our
country, because the one thing all of us as Americans understand--
whether we live in Indiana, Philadelphia, or in Ohio--is that there are
young men and women from other towns and from other States who lost
their lives to protect us, and we are all in it for each other. We are
all in it together as Americans.
On Memorial Day, please say a prayer and think about all those who
gave us the chance to celebrate our freedoms.
May God bless Indiana, and may God bless the United States of
America.
Thank you, Mr. President.
I yield back.
I suggest the absence of a quorum.
The PRESIDING OFFICER. The clerk will call the roll.
The legislative clerk proceeded to call the roll.
Mr. BROWN. Mr. President, I ask unanimous consent that the order for
the quorum call be rescinded.
The PRESIDING OFFICER. Without objection, it is so ordered.
Mr. BROWN. Mr. President, last week, Pope Francis released an
unprecedented document detailing what is wrong with our financial
system. That the Pope thought it was that important to weigh in tells
you a lot about where we are as a nation.
We have an economy, the Pope noted, that defines success by corporate
profits and measures time in quarterly earnings reports. That is not
how families think. Washington may think that way, corporate CEOs may
think that way, but families mark time in school years, in 30-year
mortgages, and in years left to save for retirement. That is why the
Pope called our current financial system ``an inadequate framework that
excludes the common good.''
Right now, working families are struggling in this country. The
economic statistics may look rosy, but they mask serious problems that
hold too many workers back and prevent entire communities from sharing
in that growth.
The Pope warned last week that ``work itself, together with its
dignity, is increasingly at risk of losing its value.'' Work is
increasingly at risk of losing its value. Our economy simply doesn't
value work the way it should.
Over the past 40 years, the link between productivity and wage
increases has eroded. Profits have gone up, CEO compensation has gone
up, worker productivity has gone up, but wages have been stagnant.
Workers simply don't get the help they should in compensation. Workers
simply don't share in the wealth they create for stockholders and the
wealth they create for executives and the wealth they create for CEOs.
Wages have ticked up a tiny bit recently, but, looking at the long
run, they have been largely flat. Think about this: If there are 100
people in the Galleries, if they are average--maybe they are, maybe
they aren't. If there are 100 people in the Galleries, 44 of them can't
afford an emergency expense of $400. Think about that. If they are a
$15-an-hour worker and their car breaks down and it costs $600, what do
they do? They go to get a payday loan, and we know what happens when
they do that. Forty-four percent of American adults can't afford an
emergency expense of $400.
This is even more troubling: One in four renters in this country
spends at least half their income on housing. If one thing goes wrong
in their lives--if their child gets sick--they are unlikely to have
sick leave or vacation days. So if their child gets sick, they either
send their child to school sick or they stay home with their daughter
or son and lose a day's pay. And if they are spending 50 percent of
their income on housing, what happens? They are likely to be evicted,
likely to be foreclosed on if they own their home and then their lives
really spiral down.
In light of all that, this Congress thought the best thing to do was
pass another giveaway to the big banks because Wall Street hasn't done
enough. This body can't help itself. They fall all over themselves. The
lobbyists going in and out of Leader McConnell's office, and the Wall
Street lobbyists--the White House increasingly looks like a retreat for
Wall Street executives. This body just falls all over itself. We always
have to help Wall Street. Over the next 7 or 8 years, 80 percent of the
tax-cut bill that was passed last year will go to the richest 1 percent
of the country, as if they need the help.
The giveaway to the big banks the President is going to sign tomorrow
comes on the heels of a $1.5 trillion--how much is a trillion? A
trillion is 1,000 billion. How much is a billion? A billion is 1,000
million. It was a $1.5 trillion deficit-financed tax cut for
millionaires and more likely billionaires who control one political
party in this body. It was tax cuts for billionaires and corporations
that ship jobs overseas. Apparently that is just not enough, so this
week, the House passed a bill loosening taxpayer protections on big
banks that received a combined $239 billion in taxpayer bailouts. Think
about that. It weakens stress tests for all large banks. It opens the
door to less oversight of foreign megabanks.
This bill also eliminates data-gathering that guards against mortgage
discrimination. We are bringing back redlining. There has been no
racial discrimination in housing in this country, apparently, so let
the banks and let the government that sometimes goes along with the
banks get that red pencil--it is done with computers now--and draw
around those neighborhoods so that those families--often people of
color but not always--can't get equal access to home mortgages.
The Congressional Budget Office, which is the independent,
nonpartisan scorekeeper, confirmed that this bill that just passed
would increase the likelihood of a big bank failure and a financial
crisis and would add $670 million to the deficit.
What problem exactly is this Congress trying to solve?
One of my favorite quotes is from Abraham Lincoln. He was in the
White House, and his staff wanted him to stay there and win the war and
free the slaves and preserve the Union. He said: No. I have to go out
and get my ``public opinion baths.''
When I go back to Cleveland, where I live, or when I see my grandkids
in Columbus or when I go anywhere else in the State, I go out and
listen to people, and I try to get these public opinion baths. Never
once have I heard somebody say: You know, Senator, with the problems we
have, the first thing we have to do is weaken regulations to help Wall
Street. I never hear that. The only people who say that are bankers and
a bunch of politicians who are all well compensated, who have very good
healthcare paid for by taxpayers, and who do what the banks want them
to do.
The FDIC--the Federal Deposit Insurance Corporation--released new
data this week. Banks increased their profits by 13 percent over the
last year. Of those 100 people in the Galleries, how many of them got a
13-percent raise last year? Well, banks increased their already strong
profits by another 13 percent. It has happened almost every year this
decade, since Congress bailed out the banks 8 years ago. That 13
percent is not even counting the windfall profits they got from the
windfall tax bill. When they take the tax bill into account, banks
profits went up not 13, not 15, not 20, but 28 percent.
The banking sector bought back $77 billion worth of stock last year.
Do you know what that means? That is all about raising compensation for
the biggest stockholders and the CEO. The average bank teller in this
country makes $26,000 a year. Bank profits are up. CEO compensation is
up. They are all doing very well. They got a big tax cut. The average
teller makes $26,000.
At my high school reunion in Mansfield a couple of years ago, I sat
across the table from a woman with whom I graduated. She has worked as
a teller in a large, well-known bank for 30 years, and she makes
$30,000 a year. She has worked there for 30 years. But the bank CEOs
are doing very well--
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millions and millions of dollars in compensation.
If these banks fail again, it will be those tellers, it will be the
middle manager, it will be the millions of other American taxpayers who
will be called on to bail them out. That is why we did Wall Street
reform--Dodd-Frank--several years ago. We passed a law that created
important protections for the financial system, for taxpayers, for
homeowners, to hold banks and watchdogs accountable and prevent another
crisis.
Do you know what? The day that bill was signed, the chief Financial
Services--do you know what the chief bank lobbyist in this city did?
The day it was signed, he said: ``You know, it is halftime.''
What does that mean? ``It is halftime'' means that you might have
passed this law that we didn't like--we, Wall Street--but we are going
to fight like hell to weaken the rules to implement the law. And once
we get a Republican majority and we have a majority leader and, further
down the hall, a Speaker of the House who does whatever Wall Street
asks them to do, then it will be time to come back and weaken the laws.
That is what happened with the election of this President and the
election of the majority leader and the Speaker of the House. It is
time to go back to Wall Street and say: How can we help you, sir? It is
almost always a sir.
Another bank lobbyist, when he talked about these negotiations, said:
We don't want a seat at the table; we want the whole table.
Wall Street greed knows no bounds. That is why it is a huge concern
that the White House looks like a retreat for Wall Street executives.
Special interests are getting the whole table. The President is signing
the big bank giveaway into law.
Here is the last point I want to spend a little time on. They are
trying to install yet another Wall Street nominee with the troubling
record of dismissing the harm Wall Street inflicted on Main Street--
Jelena McWilliams, who is listed as Ms. McWilliams of Ohio, my State. I
would like to support a fellow Ohioan. She hasn't really lived in Ohio
very long. I know she has moved back. But I would still like to support
a fellow Ohioan. She has been nominated to be the Chair of the Federal
Deposit Insurance Corporation, but she has never supported the need for
strong rules and tough supervision for the banking system.
At her nomination hearing, she declined to acknowledge the role that
excessive bank borrowing played in causing the 2008 collapse. What are
we going to do? On whom are we going to blame the bank collapse, the
economy going into the toilet, the fact that millions of Americans lost
jobs, millions of Americans had their homes foreclosed on, and billions
and billions of dollars were lost from seniors' retirement accounts? We
are going to blame that on them? Wall Street, of course, had nothing to
do with it.
Right now, the Fed is considering a proposal to weaken protections
and give a $120 billion windfall to the eight largest banks. Even
former Chairs and Vice Chairs of the FDIC appointed by Republicans, two
people I admire--Sheila Bair, who used to be chief of staff for Bob
Dole, appointed to the FDIC by President Bush and kept by President
Obama; and Thomas Hoenig, another Republican from the Kansas City Fed
and a Republican regulator--they have opposed this proposal. But Mrs.
McWilliams refused to do so.
On issue after issue--payday lending at banks, cost-benefit analysis,
the Volcker rule--she has shown no independence from this White House
that looks like a retreat for Wall Street executives.
The FDIC was designed to be independent and nonpartisan. We don't
need another rubberstamp from Wall Street's agenda on the FDIC board,
particularly when we have no commitment to move the nominations for
Democratic seats. We need independent thinkers at these agencies who
are willing to push back against a big-bank agenda.
Last week, Fed Vice Chair Randall Quarles gave a speech saying--just
as we predicted--the Federal Reserve wants to loosen rules on foreign
megabanks. So it is not just that we are doing favors for Wall Street,
but we are doing favors for these multi-decabillion or hundreds of
billions of dollars foreign banks. We decided to make it easier on
them.
Yesterday, former OneWest banker Joseph Otting announced that he
wants banks to get into the business of payday loans. They have always
said they have nothing to do with these payday loans. Well, they do.
Otting has other plans to gut the Community Reinvestment Act--a 40-year
old law that ensures that banks serve their communities. And we could
spend hours detailing what Mick Mulvaney is doing to the Consumer
Protection Bureau
In closing, I will go back to the Pope's message. He noted that
``while most of [the financial industry's] operators are singularly
animated by good and right intentions, it is impossible to ignore the
fact that the financial industry . . . is a place where selfishness and
the abuse of power have an enormous potential to harm the community.''
A little selfishness, a little abuse can have massive consequences
when it comes to the financial system. Families in Ohio can't afford
that risk. It is our job to protect those families.
The Pope said: ``Those entrusted with political authority find it
difficult to fulfill to their original vocation as servants of the
common good.''
We should listen a little more to the people we serve, and we should
listen a little less to Wall Street. We should break the addiction to
Wall Street money. We should break our allegiance to Wall Street
interests. That is how we create an economy that values work and create
an economy that serves the common good and not corporate special
interests.
I ask my colleagues to vote against the nomination of Ms. McWilliams.
I suggest the absence of a quorum.
The PRESIDING OFFICER. The clerk will call the roll.
The bill clerk proceeded to call the roll.
Mrs. FISCHER. Mr. President, I ask unanimous consent that the order
for the quorum call be rescinded.
The PRESIDING OFFICER. Without objection, it is so ordered.
Mrs. FISCHER. Mr. President, I ask unanimous consent that the votes
following the first vote in this series be 10 minutes in length.
The PRESIDING OFFICER. Without objection, it is so ordered.
Mrs. FISCHER. Thank you, Mr. President.
I yield the floor.
The PRESIDING OFFICER. The question is, Will the Senate advise and
consent to the nomination of Jelena McWilliams to be Chairperson of the
Board of Directors of the Federal Deposit Insurance Corporation?
Mr. COTTON. Mr. President, I ask for the yeas and nays.
The PRESIDING OFFICER. Is there a sufficient second?
There appears to be a sufficient second.
The clerk will call the roll.
The bill clerk called the roll.
Mr. CORNYN. The following Senators are necessarily absent: the
Senator from Texas (Mr. Cruz), the Senator from Arizona (Mr. Flake),
the Senator from Nevada (Mr. Heller), the Senator from Arizona (Mr.
McCain), and the Senator from Florida (Mr. Rubio).
Further, if present and voting, the Senator from Florida (Mr. Rubio)
would have voted ``yea.''
Mr. DURBIN. I announce that the Senator from Illinois (Ms. Duckworth)
and the Senator from New Hampshire (Ms. Hassan) are necessarily absent.
The PRESIDING OFFICER (Mrs. FISCHER). Are there any other Senators in
the Chamber desiring to vote?
The result was announced--yeas 69, nays 24, as follows:
[Rollcall Vote No. 109 Ex.]
YEAS--69
Alexander
Barrasso
Bennet
Blunt
Boozman
Burr
Capito
Cardin
Carper
Casey
Cassidy
Collins
Coons
Corker
Cornyn
Cotton
Crapo
Daines
Donnelly
Enzi
Ernst
Fischer
Gardner
Graham
Grassley
Hatch
Heitkamp
Hoeven
Hyde-Smith
Inhofe
Isakson
Johnson
Jones
Kaine
Kennedy
King
Klobuchar
Lankford
Leahy
Lee
Manchin
McCaskill
McConnell
Menendez
Moran
Murkowski
Murphy
Nelson
Paul
Perdue
Peters
Portman
Reed
Risch
Roberts
Rounds
Sasse
Scott
Shaheen
Shelby
[[Page S2897]]
Sullivan
Tester
Thune
Tillis
Toomey
Van Hollen
Warner
Wicker
Young
NAYS--24
Baldwin
Blumenthal
Booker
Brown
Cantwell
Cortez Masto
Durbin
Feinstein
Gillibrand
Harris
Heinrich
Hirono
Markey
Merkley
Murray
Sanders
Schatz
Schumer
Smith
Stabenow
Udall
Warren
Whitehouse
Wyden
NOT VOTING--7
Cruz
Duckworth
Flake
Hassan
Heller
McCain
Rubio
The nomination was confirmed.
The PRESIDING OFFICER. Under the previous order, the motion to
reconsider is considered made and laid upon the table and the President
will be immediately notified of the Senate's action.
The question is, Will the Senate advise and consent to the nomination
of Jelena McWilliams to be a Member of the Board of Directors of the
Federal Deposit Insurance Corporation?
The nomination was confirmed.
The PRESIDING OFFICER. Under the previous order, the motion to
reconsider is considered made and laid upon the table and the President
will be immediately notified of the Senate's action.
____________________