[Congressional Record (Bound Edition), Volume 154 (2008), Part 15]
[House]
[Pages 21151-21152]
[From the U.S. Government Publishing Office, www.gpo.gov]




                           GRAMM-LEACH-BLILEY

  (Ms. KAPTUR asked and was given permission to address the House for 1 
minute and to revise and extend her remarks.)
  Ms. KAPTUR. Mr. Speaker, I would like to place in the Record remarks 
that I made in 1999 regarding a measure called the Gramm-Leach-Bliley 
bill that passed in this Congress on a vote of 362-57. At the time we 
said it would cause the mess we're facing today on Wall Street and 
indeed it has.
  I will place also in the Record the votes of those who were present 
voting ``yes'' and voting ``no.''
  This is an extraordinarily important vote that essentially 
unharnessed Wall Street to do whatever it wanted, mixing banking, 
commerce, real estate, insurance in a way America had not done for over 
half a century.
  Some of what I said at that time was, ``I would say to the people 
listening tonight, are you tired of calling banks and getting lost in 
the automated phone system, never locating a breathing human being? 
This bill will make it worse.
  ``Are you fed up with rising ATM fees and service fees that now 
average over $200 a year per account holder? This bill will make it 
worse.
  ``Are you tired of mega-financial conglomerates and mergers that have 
made your community a branch economy of financial centers located far 
away whose officers you never know who never come to your community? 
This bill will make it worse.''
  I would urge my colleagues to take a look at the remarks that were 
made over a decade ago and think about what we are facing today. I 
commend all of my colleagues who voted ``no'' in those days. They 
deserve a badge of honor.

       Ms. KAPTUR. Madam Speaker, I rise in opposition to the rule 
     and in opposition, strong opposition, to the bill. This bill 
     is pro megabank and it is against consumers.
       And I would say to the people listening tonight, Are you 
     tired of calling banks and getting lost in the automated 
     phone system, never locating a breathing human being? This 
     bill will make it worse.
       Are you fed up with rising ATM fees and service fees that 
     now average over $200 a year per account holder? This bill 
     will make it worse.
       Are you skeptical about banks that used to be dedicated to 
     safety and soundness and savings but are now switching to 
     pushing stocks and insurance and debt? This bill will make it 
     worse.
       Are you tired of the megafinancial conglomerates and 
     mergers that have made your community a branch economy of 
     financial centers located far away, whose officers you never 
     know, who never come to your community? This bill will make 
     it worse.
       Punitive reporting requirements in this bill are aimed at 
     disabling community groups that are the only groups in this 
     country that hold these institutions accountable for the 
     depositors' money. It is going to make them a target of 
     Federal reporting requirements. So why do community groups 
     oppose this bill, like the Lutheran Office for Governmental 
     Affairs, the Fair Housing Alliance, the National Low-Income 
     Housing Coalition, the Coalition of Community Development 
     Financial Institutions, Consumers Union, the Volunteers of 
     America? Sounds like the folks that live in my neighborhood, 
     my colleagues.
       I would say this is one of the worst conceived bills ever 
     to come before this body, simply because it does not pay 
     attention to the majority of the American people who have, on 
     average, less than $2,000 in any financial institution in 
     this country. To anyone listening tonight I say, Put your 
     money in the credit unions. They are owned by you and they 
     will take care of you. Vote against this bill.

                    From Nov. 4, 1999 [Roll No. 570]

                               YEAS--362

     Abercrombie
     Ackerman
     Aderholt
     Allen
     Andrews
     Archer
     Armey
     Bachus
     Baird
     Baker
     Baldacci
     Ballenger
     Barcia
     Barr
     Barrett (NE)
     Bartlett
     Bass
     Bateman
     Becerra
     Bentsen
     Berkley
     Berman
     Berry
     Biggert
     Bilbray
     Bilirakis
     Bishop
     Blagojevich
     Bliley
     Blumenauer
     Blunt
     Boehlert
     Boehner
     Bonilla
     Bonior
     Bono
     Borski
     Boswell
     Boucher
     Boyd
     Brady (TX)
     Brown (FL)
     Brown (OH)
     Bryant
     Burr
     Burton
     Buyer
     Callahan
     Calvert
     Camp
     Canady
     Cannon
     Capps
     Cardin
     Carson
     Castle
     Chabot
     Chambliss
     Chenoweth-Hage
     Clayton
     Clement
     Clyburn
     Coble
     Coburn
     Collins
     Combest
     Cook
     Cooksey
     Cox
     Cramer
     Crane
     Crowley
     Cubin
     Cummings
     Cunningham
     Danner
     Davis (FL)
     Davis (VA)
     Deal
     DeGette
     Delahunt
     DeLay
     DeMint
     Deutsch
     Diaz-Balart
     Dicks
     Doggett
     Dooley
     Doolittle
     Doyle
     Dreier
     Duncan
     Dunn
     Ehlers
     Ehrlich
     Emerson
     Engel
     English
     Eshoo
     Etheridge
     Everett
     Ewing
     Farr
     Fletcher
     Foley
     Forbes
     Ford
     Fossella
     Fowler
     Franks (NJ)
     Frelinghuysen
     Frost
     Gallegly
     Ganske
     Gekas
     Gephardt
     Gibbons
     Gilchrest
     Gillmor
     Gilman
     Gonzalez
     Goode
     Goodlatte
     Goodling
     Gordon
     Goss
     Graham
     Granger
     Green (TX)
     Green (WI)
     Greenwood
     Gutknecht
     Hall (OH)
     Hall (TX)
     Hansen
     Hastert
     Hastings (WA)
     Hayes
     Hayworth
     Herger
     Hill (IN)
     Hill (MT)
     Hilleary
     Hilliard
     Hinojosa
     Hobson
     Hoeffel
     Hoekstra
     Holden
     Holt
     Hooley
     Horn
     Hostettler
     Houghton
     Hoyer
     Hulshof
     Hunter
     Hutchinson
     Hyde
     Isakson
     Istook
     Jackson-Lee (TX)
     Jefferson
     Jenkins
     John
     Johnson (CT)
     Johnson, E. B.
     Johnson, Sam
     Jones (NC)
     Jones (OH)

[[Page 21152]]


     Kasich
     Kelly
     Kennedy
     Kilpatrick
     Kind (WI)
     King (NY)
     Kingston
     Kleczka
     Klink
     Knollenberg
     Kolbe
     Kuykendall
     LaFalce
     LaHood
     Lampson
     Lantos
     Largent
     Latham
     LaTourette
     Lazio
     Leach
     Levin
     Lewis (CA)
     Lewis (KY)
     Linder
     LoBiondo
     Lofgren
     Lowey
     Lucas (KY)
     Lucas (OK)
     Maloney (CT)
     Maloney (NY)
     Manzullo
     Mascara
     Matsui
     McCarthy (MO)
     McCarthy (NY)
     McCollum
     McCrery
     McGovern
     McHugh
     McIntosh
     McIntyre
     McKeon
     McNulty
     Meehan
     Meeks (NY)
     Menendez
     Metcalf
     Millender-McDonald
     Miller (FL)
     Miller, Gary
     Minge
     Mink
     Moakley
     Moore
     Moran (KS)
     Moran (VA)
     Morella
     Murtha
     Myrick
     Nadler
     Napolitano
     Neal
     Nethercutt
     Northup
     Nussle
     Oberstar
     Olver
     Ortiz
     Ose
     Owens
     Oxley
     Packard
     Pallone
     Pascrell
     Pastor
     Payne
     Pease
     Pelosi
     Peterson (MN)
     Peterson (PA)
     Petri
     Pickering
     Pickett
     Pitts
     Pombo
     Pomeroy
     Porter
     Portman
     Price (NC)
     Pryce (OH)
     Quinn
     Rahall
     Ramstad
     Rangel
     Regula
     Reyes
     Reynolds
     Riley
     Roemer
     Rogan
     Rogers
     Rohrabacher
     Ros-Lehtinen
     Rothman
     Roukema
     Royce
     Ryan (WI)
     Ryun (KS)
     Sabo
     Salmon
     Sanchez
     Sandlin
     Sawyer
     Saxton
     Schaffer
     Scott
     Sensenbrenner
     Sessions
     Shadegg
     Shaw
     Shays
     Sherman
     Sherwood
     Shimkus
     Shows
     Simpson
     Sisisky
     Skeen
     Skelton
     Slaughter
     Smith (MI)
     Smith (NJ)
     Smith (TX)
     Smith (WA)
     Snyder
     Souder
     Spence
     Spratt
     Stabenow
     Stearns
     Stenholm
     Strickland
     Stump
     Stupak
     Sununu
     Sweeney
     Talent
     Tancredo
     Tanner
     Tauscher
     Tauzin
     Terry
     Thomas
     Thompson (CA)
     Thompson (MS)
     Thornberry
     Thune
     Tiahrt
     Toomey
     Towns
     Traficant
     Turner
     Udall (CO)
     Udall (NM)
     Upton
     Velazquez
     Vento
     Visclosky
     Vitter
     Walden
     Walsh
     Wamp
     Watkins
     Watt (NC)
     Watts (OK)
     Weiner
     Weldon (FL)
     Weldon (PA)
     Weller
     Wexler
     Weygand
     Whitfield
     Wicker
     Wilson
     Wise
     Wolf
     Wu
     Wynn
     Young (AK)
     Young (FL)

                                NAYS--57

     Baldwin
     Barrett (WI)
     Barton
     Brady (PA)
     Campbell
     Capuano
     Clay
     Condit
     Conyers
     Costello
     Coyne
     Davis (IL)
     DeFazio
     DeLauro
     Dingell
     Dixon
     Edwards
     Evans
     Fattah
     Filner
     Frank (MA)
     Gejdenson
     Gutierrez
     Hastings (FL)
     Hefley
     Hinchey
     Inslee
     Jackson (IL)
     Kaptur
     Kildee
     Kucinich
     Lee
     Lewis (GA)
     Lipinski
     Luther
     Markey
     McDermott
     McKinney
     Meek (FL)
     Mica
     Miller, George
     Obey
     Phelps
     Rivers
     Rodriguez
     Roybal-Allard
     Rush
     Sanders
     Sanford
     Schakowsky
     Serrano
     Taylor (MS)
     Thurman
     Tierney
     Waters
     Waxman
     Woolsey

                             NOT VOTING--15

     Bereuter
     Dickey
     Kanjorski
     Larson
     Martinez
     McInnis
     Mollohan
     Ney
     Norwood
     Paul
     Radanovich
     Scarborough
     Shuster
     Stark
     Taylor (NC)

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