Executive Session

Floor Speech

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Mrs. BOXER. I hope we have a resounding vote for Mel Watt. He is a terrific person. He has the heart, intelligence, and the experience.

Mrs. BOXER. Mr. President, as critical decisions are being made about the future of the housing finance system, it is time that we place permanent leadership at the head of the Federal Housing Finance Agency, FHFA. Congressman Mel Watt has both the experience and the expertise to help create a system that ensures access to safe and affordable credit and other housing options for all Americans.

Congressman Watt brings with him over 40 years of experience in housing, real estate, and other financial services issues. From 1970 to 1992, he ran a law practice focusing on business, real estate, municipal bonds, and community development, learning the details of housing finance from the ground level. He was first elected to represent the 12th district of North Carolina in 1992 and has served over 20 years on the House Financial Services Committee. In addition, his work on the House Subcommittees on Capital Markets and Government Sponsored Enterprises, and on Financial Institutions and Consumer Credit has given him the necessary policy expertise to run the agency that oversees Fannie Mae and Freddie Mac.

Congressman Watt's experience and expertise made him one of the first policymakers to recognize how predatory underwriting practices were threatening the larger housing market and economy as a whole. Years before the foreclosure crisis began, Congressman Watt, along with Congressman Brad Miller, introduced the Prohibit Predatory Lending Act in 2004. They reintroduced it every Congress after that until it was adopted as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. In March 2007, only 2 months after the Democrats became the majority party in Congress, Congressman Watt joined Chairman Barney Frank in introducing a bill to reform regulation of Fannie Mae and Freddie Mac. The bill passed both the House and the Senate with bipartisan support and now called the Housing and Economic Recovery Act, HERA, was signed into law by President Bush in July 2008.

Congressman Watt also brings with him the experience and balance in vision to represent all stakeholders fairly, and has broad support from both industry and consumer groups.

``The National Association of Realtors has long appreciated Representative Watt's proven ability and willingness to engage the industry, stakeholders, and consumers throughout his service in the House of Representatives. Watt has always aimed to craft policy that is fair, garners wide consensus, and allows all parties to move forward, all of which are vital qualities for the Director of the FHFA.''

The Mortgage Bankers of America said, ``Congressman Watt would bring considerable experience to the post of Director [and] a strong base of understanding on a wide variety of public policy issues related to housing finance. ..... [W]e would urge the Senate to approve his nomination.''

The Center for Responsible Lending said, ``Watt brings to FHFA an ability to work with a variety of stakeholders, with many competing interests and perspectives. He has a track record of crafting practical solutions and alliances for a complex, dynamic marketplace. He is consistently thoughtful, fair, and respectful of all opinions, and his policies have been guided by a concern for all Americans.''

The National Association of Home Builders said, ``We applaud the nomination of Representative Watt to this important position. After four years in conservatorship, the future of Fannie Mae and Freddie Mac stands at a crossroad. Rep. Watt brings years of experience to this position at a pivotal moment as our nation's housing market recovers. NAHB looks forward to working closely with Rep. Watt to help address the many complex challenges facing the U.S. housing finance system upon his confirmation by the U.S. Senate.''

The Center for American Progress said, ``We believe that Mr. Watt has the vision, expertise, and experience necessary to provide strong leadership for FHFA. His personal background and professional experience have provided him with a deep commitment to affordable housing and sustainable credit, which not only support a robust housing market, but also provide shelter and opportunity for America's families and spur economic growth for the nation as a whole.''

The United States Conference of Mayors said, ``It is not surprising that Representative Watt has bipartisan support in the Senate. His record shows that he can work across the political aisle finding solutions to complex problems. Time and time again, mayors have been impressed with his thoughtful approach in developing solutions that are mindful of all stakeholders. As the nation's housing market climbs back as a major part of our economy, we need such a leader as Mel Watt at the head of FHFA.''

Mr. President, I ask to speak as in morning business for the rest of my time.

The ACTING PRESIDENT pro tempore. Without objection, it is so ordered.

AFFORDABLE CARE ACT

Mrs. BOXER. Mr. President, I am so pleased to be on the floor with some very good news out of California and how ObamaCare, the Affordable Care Act, is working in our great State. People are phoning. People are going online. People are talking with insurance agencies, with health insurance companies. They are getting health care coverage, some for the very first time, and for many for the first time it is affordable; all good policies--good policies that will be there when they are needed.

We know a small percentage of people, as the President addressed yesterday, are being told their old policies are not going to be offered to them anymore, but all of those folks know they can get better policies. They can't be turned away. There will be competition for their business. Many of them will get subsidies. So at the end of the day, this health care story, although quite bumpy, as we know the prescription drug launch was years ago--we know it is bumpy, and we are angry on both sides of the aisle that it is bumpy--but at the end of the day, I think it is going to be good.

I wish to read some of the comments made by people who have logged in to ``Covered California,'' which is coveredCA.com. Here is one who just got an affordable health care policy:

Thank you so much, President Obama! And everyone who works there.

This was soooo much easier than I thought it would be! I am soooo grateful to get medical insurance! Thank you!

Another:

Great phone support, thank you. No wait time, the assistant answered all my questions clearly.

Another:

GREAT JOB! EASY! WHAT'S All THE FUSS ABOUT?

Another:

Wow. This was easy and my monthly premiums are significantly less than my previous employer's health care coverage before the Affordable Care Act.

One who I thought truly summed it up:

Thank God Almighty I'm free at last!

These are the real people. These are not people who have a political agenda. They are real people. They are Democrats. They are Republicans. They are Independent voters. They have had a hard time getting health insurance and, because of the Affordable Care Act, with all of its glitches on the national Web site--and we acknowledge them--it is working. It is working in our State, and eventually, once that national Web site is fixed, it will work for everybody.

I wish to put some real numbers on this: 180,000 Californians have begun the process of signing up for coverage--180,000 families. Imagine the relief they have. Over 2 million unique visitors have been to coveredCA.com. There have been 200,000 calls to coveredCA.com's call centers. The average wait time is under 4 minutes and the average total call time is less than 16 minutes for Californians enrolling in coverage and asking questions. We have 4,000 insurance agents and clinic workers trained so far and certified. They have their badges so they can offer, in person, help to those who are looking to enroll.

Very recently I went to a clinic in my home county and I can tell my colleagues the excitement there is palpable. The doctors, the nurses, the assistants, the people in the waiting room, everybody knowing they can get either insurance on the exchange or insurance through an expanded Medi-Cal Program. We have millions of people who will be able to sign up on the exchanges. We have about 1.4 million people who could sign up for the expanded Medi-Cal Program.

Do I have any time remaining?

The ACTING PRESIDENT pro tempore. The Senator has 5 seconds remaining.

Mrs. BOXER. Five seconds. I hope we get these two wonderful nominees on the way to confirmation today.

I hope we will be patient and that we will all work together to fix the problems with health care. I think, at the end of the day, it is going to be great.

I thank the Chair and yield the floor.

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