Video archive of the US Congress

House Proceeding on Jul 31st, 2009 :: 2:09:40 to 2:12:25
Total video length: 3 hours 53 minutes Stream Tools: Stream Overview | Edit Time

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Randy Neugebauer

2:09:37 to 2:09:58( Edit History Discussion )

Randy Neugebauer: enormous risk, they maximize their compensation. the speaker pro tempore: the gentleman's time has expired. the gentleman from new jersey. mr. garrett: i yield three minutes to the gentleman from texas. the speaker pro tempore: the gentleman is recognized for three minutes.

Randy Neugebauer

2:09:40 to 2:12:25( Edit History Discussion )
Speech By: Randy Neugebauer

Randy Neugebauer

2:09:59 to 2:10:20( Edit History Discussion )

Randy Neugebauer: >> this is a reasonable and thoughtful substitute. republicans are here to bring good ideas to the table to try to work with the majority to ensure our markets operate with transparency. rather than vote every year our substitute aligns it with

Randy Neugebauer

2:10:21 to 2:10:41( Edit History Discussion )

Randy Neugebauer: standard compensation packages and ensures that investors who represent shareholders will be able to have proper time to do due diligence to make meaningful votes. it allows share holders who don't want to be involved in these votes to opt out. makes sense to me.

Randy Neugebauer

2:10:42 to 2:11:02( Edit History Discussion )

Randy Neugebauer: finally the substitute ensure this is a federal government cannot decide the pay for employees or financial institutions. determining pay practices is not the role of government. as we work together to reform the financial regulatory struck churk debating compensation practices may make some feel better, but it doesn't fix the cause of our financial crisis.

Randy Neugebauer

2:11:03 to 2:11:23( Edit History Discussion )

Randy Neugebauer: while we in the public may not like to hear about some of the large salaries and bonuses others have earned, we have to ask ourselves, how much did these compensation practices really contribute to the prlem? most important -- the most important tool financial regulators have is the ability to set capital standards for financial institutions.

Randy Neugebauer

2:11:24 to 2:11:45( Edit History Discussion )

Randy Neugebauer: not the ability to tell financial institutions how how much they can pay or how much they should pay their employees. we need regulators to ensure capital and rev raj ratios at financial institutions match the risk those en-- those enties are taking on. that's what theyhould focus on, not whether a certa

Randy Neugebauer

2:11:46 to 2:12:07( Edit History Discussion )

Randy Neugebauer: incentive practice is appropriate. a finance professor released a study comparing bank performance and c.e.o. incentives leading up to the cris. the professor is quoted in today's says, it's hard to believe that

Randy Neugebauer

2:12:08 to 2:12:26( Edit History Discussion )

Randy Neugebauer: they'll be regulated by compensation plans. proper ly designed capital approaches are much more effective than fiddling with compensation packages. congress should not be working to -- congress should be working to encourage well-managed, well-run,

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