[Congressional Record (Bound Edition), Volume 145 (1999), Part 20]
[Extensions of Remarks]
[Page 28880]
[From the U.S. Government Publishing Office, www.gpo.gov]



          CONFERENCE REPORT ON S. 900, GRAMM-LEACH-BLILEY ACT

                                 ______
                                 

                               speech of

                        HON. CHARLES A. GONZALEZ

                                of texas

                    in the house of representatives

                       Thursday, November 4, 1999

  Mr. GONZALEZ. Mr. Speaker, I rise today in support of the rule, and I 
would like to make a couple of comments about why I think we should 
support the conference report.
  The future of any American business enterprise is not determined, in 
the final analysis, by imagination, innovation, technological advances 
or determination.
  It succeeds only when those of us in Congress establish policies that 
encourage and accommodate sensible and healthy economic growth.
  The conference report represents a balanced approach between the 
House and Senate versions of financial services modernization.
  Congress has spent several decades considering many of the 
complicated and extremely important issues addressed in this 
compromise.
  Failure to adopt this bill will relegate our financial industry to 
continue to operate under the current artificial structural limitations 
that place them at a competitive disadvantage in the constantly 
evolving international playing field.
  This rule and the conference report should be adopted.

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