wlm4 at cornell.edu (Will
06-29-1995, 08:02 AM
From: C-reuters@clarinet.com (Reuter / Tabassum Zakaria)
Newsgroups: clari.biz.industry.banking
Date: Thu, 22 Jun 95 19:00:12 PDT
WASHINGTON (Reuter) - The House Banking Committee's consideration of a
regulatory reform bill took an off-beat turn Thursday with stories of buying
wedding rings in pawn shops and discussions of whether making money was all
right. Day two of the ``markup'' in which the committee considers
amendments before taking a final vote moved at a snail's pace as democrats
used delaying tactics because of a perceived slight over voting on another
matter the previous day. After midday it became clear the committee was
not going to be able to finish the more than 80 amendments left to consider
from Wednesday.
Debate on an amendment related to the Community Reinvestment act led to a
discussion about whether Democratic lawmakers were against banks making
profits. Rep. Sonny Bono, R-Calif., started a discourse on ``natural law''
that someone who worked hard for money was entitled to it. That led to a
comment from a Democrat lawmaker referring to Bono's singing days as part of
the ``Sonny and Cher'' duo. Bono, whose ``I got you, Babe'' with his former
partner was one of their biggest hits, later responded: ``I wrote all my
songs, it wasn't her, babe.''
The day ended with discussion about a pawn shop amendment that would exempt
pawn shops from a law that requires disclosure of credit terms to consumers.
Democrats accused the bill's sponsor Spencer Bachus, R-AL, of never having
set foot in a pawn shop. Bachus countered by saying when he was in the Army
he lost his wedding ring and not wanting his wife to find out, went into a
pawn shop in Texas and bought another one. Barney Frank, D-Mass and one of
the few openly gay members of Congress, extended the theme by saying: ``I
know more about pawn shops than I know about wedding rings.'' House Banking
Chairman James Leach joined in the ring saying he did not want anyone to
think that ``facilitating the pawning of wedding rings is encouraged by this
committee.''
The pawn shop amendment was then withdrawn and may be considered again next
week.--
This post transferred from the cdb-l mailing list
Newsgroups: clari.biz.industry.banking
Date: Thu, 22 Jun 95 19:00:12 PDT
WASHINGTON (Reuter) - The House Banking Committee's consideration of a
regulatory reform bill took an off-beat turn Thursday with stories of buying
wedding rings in pawn shops and discussions of whether making money was all
right. Day two of the ``markup'' in which the committee considers
amendments before taking a final vote moved at a snail's pace as democrats
used delaying tactics because of a perceived slight over voting on another
matter the previous day. After midday it became clear the committee was
not going to be able to finish the more than 80 amendments left to consider
from Wednesday.
Debate on an amendment related to the Community Reinvestment act led to a
discussion about whether Democratic lawmakers were against banks making
profits. Rep. Sonny Bono, R-Calif., started a discourse on ``natural law''
that someone who worked hard for money was entitled to it. That led to a
comment from a Democrat lawmaker referring to Bono's singing days as part of
the ``Sonny and Cher'' duo. Bono, whose ``I got you, Babe'' with his former
partner was one of their biggest hits, later responded: ``I wrote all my
songs, it wasn't her, babe.''
The day ended with discussion about a pawn shop amendment that would exempt
pawn shops from a law that requires disclosure of credit terms to consumers.
Democrats accused the bill's sponsor Spencer Bachus, R-AL, of never having
set foot in a pawn shop. Bachus countered by saying when he was in the Army
he lost his wedding ring and not wanting his wife to find out, went into a
pawn shop in Texas and bought another one. Barney Frank, D-Mass and one of
the few openly gay members of Congress, extended the theme by saying: ``I
know more about pawn shops than I know about wedding rings.'' House Banking
Chairman James Leach joined in the ring saying he did not want anyone to
think that ``facilitating the pawning of wedding rings is encouraged by this
committee.''
The pawn shop amendment was then withdrawn and may be considered again next
week.--
This post transferred from the cdb-l mailing list