Excerpt from Regulatory Exclusions Pertaining to Financial Institution D and O Professional Liability Insurance Policies: Hearing Before the Committee on Banking, Finance and Urban Affairs, House of Representatives, One Hundred Third Congress, First Session, November 17, 1993
The chairman. The committee will please come to order. The committee's recent decision to vote for funding - that is, to vote for the funding of the rtc served as a painful reminder of taxpayer outrage over the savings and loan crisis. Ironically at this point, as of yesterday at about noon, we were advised that the Senate finally had named conferees on the rtc funding.
Of course, we have been waiting for months for that to happen and in the meanwhile, Of course, the staffs have been working to figure out the irreducible issues; that is, on a staff level. And the question now is that apparently the Senate feels that we could have a quick conference and sign Off and I am reconsidering that I mean considering that because I don't believe in fast government.
Fast government is dangerous government. As a matter of fact, today's hearing ought to emphasize why. And that is why I want to make sure that, first, I consult with my own conferees, make sure that they approve in case we reach such a consensus that we could, Without a formal structured meeting, proceed.
However, my experience has been, and I have been all through the 32 years here on the Banking Committee, 5 years prior in the State Senate committee where I served as chairman of the State Senate Of Texas Committee on Banking and before that 3 years on the city council. And I learned that fast motion sometimes expedit ed what would turn out to be sorrowful and regretful results, so I have always kind of slowed up.
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