Carl Levin

Mr. LEVIN

Mr. LEVIN. Mr. President, I ask unanimous consent that the Senate proceed to the immediate consideration of H. Con. Res. 377, which was received from the House.

Mr. LEVIN. I ask unanimous consent that the concurrent resolution be agreed to, the preamble be agreed to, the motions to reconsider be laid upon the table with no intervening action or debate, and that any statements relating to the concurrent resolution be printed in the Record.

Mr. LEVIN

Mr. LEVIN. Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. LEVIN

Mr. LEVIN. Mr. President, last February, the Iraqi Government set October 1, 2008, as the date for provincial elections to occur. These elections are critical to U.S. and Iraqi efforts to bring about reconciliation in their country. For instance, those elections will give members of the Sunni community, many of whom did participate in the previous rounds of provincial elections, a chance to vote for fair representation in Iraqi's provincial councils. Unfortunately, the provincial elections law, which is the enabling legislation needed for these elections to take place, remains stalled in the Iraqi Council of Representatives and will likely delay provincial elections by at least several months. The administration's silence on the Iraqi Government's failure to adopt election laws that were promised in February--and which set a date of October 1 for those elections--is disturbing, and it is the exact wrong way to send a message to the Iraqi leaders. Many of us have tried repeatedly to get this administration to shift responsibility to the Iraqi leaders for their own future, since there is a broad consensus that there is no military solution and only a political settlement among the Iraqis can end the conflict. The administration, however, has repeatedly missed opportunities to shift this burden to the Iraqis and appears willing to miss another opportunity. President Bush indicated in February that he was confident that the Iraqi Government was ``going to continue to work to make sure that their stated objective of getting provincial elections done by October of 2008 will happen.'' And after meeting the Iraqi leaders in Baghdad in April, Secretary Rice said, ``They know that provincial elections need to be held before October 1, as has been the announcement.'' The administration is well aware that the failure of the Council of Representatives to pass a provincial elections law in the near future is likely to cause the previously established October 1 date for Iraqi provincial elections to be postponed. The recent GAO report, entitled ``Securing, Stabilizing and Rebuilding Iraq,'' paints an even bleaker picture. According to that GAO report, it is likely to take 4 to 8 months to prepare for elections after a provincial election law is passed. That means that even if this law was passed next week, the October 1 deadline is unlikely to be met. Ambassador Crocker said on April 10: The way forward for a stable Iraq lies as much through successful elections, in my view, over the long term, as it does through the necessary application of force against those who resist the state. Where is the pressure on the Iraqi Government to keep their commitment to an October election? Where is the administration's message of disappointment? Iraqi leaders are likely to read the administration's silence on their failure to act as a shrug of our shoulders. We have made some security gains in Iraq, but progress is spotty on most political benchmarks set by the Iraqis for themselves, including provincial elections. The administration's silence on this issue needs to end. It needs to make clear to the Iraqi Government that further delay in passing the provincial election law is totally unacceptable. I yield the floor and suggest the absence of a quorum.

Mr. LEVIN. Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Mr. LEVIN

Mr. LEVIN. Mr. President, according to data released this month by the Bureau of Alcohol, Tobacco, Firearms and Explosives, ATF, gun dealers in this country ``lost'' an average of 82 firearms every day last year. That means more than 30,000 firearms are mysteriously unaccounted for in gun dealers' inventories in 2007 alone. With no record of sale, these guns could be prime candidates for sale on the black market. Perhaps even more disturbing is that the Brady Center to Prevent Gun Violence believes that the 30,000 guns are actually likely an undercount of the total number of guns that disappeared from gun shops last year. The ATF conducted inspections at approximately 10,000 of the Nation's 60,000 gun dealers last year, finding over 30,000 firearms missing from the dealers' inventories with no record of sale. The other 50,000 dealers were not inspected due to limited ATF resources. In fiscal year 2005, the ATF examined 3,083 gun dealers and found 12,274 missing firearms. The underground market for guns is apparently largely supplied by the diversion of this massive number of guns from licensed gun shops into the hands of criminals. Based on its own gun-trafficking investigations, the ATF has concluded that corrupt gun dealers are the largest source of firearms diverted to the illegal market. The Brady Center report, ``Death Valley: Profile of a Rogue Gun Dealer,'' details one particular gun dealer who was cited over 900 times for Federal gun law violations. Over 480 guns from this dealer were apparently traced to gun crimes, including 41 assaults and 11 murders. In 2003 alone, the dealer reportedly failed to account for 422 guns, more than one-quarter of his entire inventory, during a single inspection. This kind of activity can be addressed by vigorously enforcing our gun laws, providing law enforcement with stronger tools to crack down on gun trafficking, corrupt gun dealers, and criminals, and by passing sensible gun safety legislation. Unfortunately, the failure of Congress to act on several common sense bills has allowed criminals and possibly terrorists continued easy access to guns. I urge my colleagues to reverse this trend of inaction, and to help put a stop to this huge source of guns for the black market.

Mr. LEVIN

Mr. LEVIN. Mr. President, small towns are at the heart of our country's history and cultural heritage. These communities, and the institutions and groups that make up these towns, are an enduring aspect of our political, economic and social structure, offering their unique and special chapters to the American story. It is in this spirit that I recognize the 100th anniversary of the founding of Gwinn, MI. This town, which is flanked by the Escanaba River in Michigan's Upper Peninsula, is an important part of America's industrial history. Situated in the Swanzy region, this area is rich in red iron ore, which attracted companies to the region as early as the 1870's for mining. As a result of these mining efforts, Gwinn was formally founded in 1908 by William Gwinn Mather, president of the Cleveland-Cliffs Iron Company as a ``model town'' for its company's employees. Gwinn is one of only three ``model towns'' built in the Lake Superior mining region. Mather named the town in honor of his mother, and hired Warren Manning, a prominent architect from Boston, to design the layout of the town. Intended to provide for the social, physical, and cultural well-being of its residents and inspired by European and northeastern design, this thoughtfully conceived town remains a fine and relatively pristine example of a model town of that era. On June 24, 2002, the town of Gwinn was listed in the National Register of Historic Places, an important federal recognition of its historical significance. Like many small mining towns, Gwinn has weathered some major industrial shifts in the century following its founding. Mining operations in the region began to decline between the 1920s and 1940s and were all but eliminated after World War II. In the mid 1950s, KI Sawyer Air Force Base was established in Marquette County and quickly became a major, and much needed, source of employment for the region. After the closure of Sawyer in 1995 as a result of the Base Closure and Realignment Commission process, it was successfully transformed into a hub of private enterprise. Now home to many businesses and some residential housing, the former base is a testament to the collective efforts of this region to reinvent itself after experiencing yet another significant blow to its economic base. Gwinn's 100th anniversary is a tribute to the strength and perseverance of its citizens and of America's working families. This milestone will be celebrated through festivities spanning from July 3 to July 12. I know my colleagues in the Senate join me in recognizing the residents of Gwinn as they celebrate their town's 100th anniversary. I wish them another 100 years achievement and success.

Mr. LEVIN

Mr. LEVIN. Mr. President, I ask unanimous consent that the Senate proceed to the following bills en bloc: Calendar No. 841, S. 3015; Calendar No. 842, S. 3082; Calendar No. 843, H.R. 3721; Calendar No. 844, H.R. 4185; Calendar No. 845, H.R. 5168; Calendar No. 846, H.R. 5395; Calendar No. 847, H.R. 5479; Calendar No. 848, H.R. 5517; and Calendar No. 849, H.R. 5528. I further ask unanimous consent that the bills be read a third time and passed, the motions to reconsider be laid upon the table en bloc, and that any statements relating to the measures be printed in the Record.

Mr. LEVIN

Mr. LEVIN. Mr. President, I ask unanimous consent that notwithstanding the upcoming recess or adjournment of the Senate, the President of the Senate, the President pro tempore, and the majority and minority leaders be authorized to make appointments to commissions, committees, boards, conferences, or interparliamentary conferences authorized by law, by concurrent action of the two Houses, or by order of the Senate.

Mr. LEVIN

Mr. LEVIN. Mr. President, I ask unanimous consent that the Senate proceed to executive session to consider Calendar Nos. 474, 510, 517, 518, 582, 592, 594, 611, 637, 638, 639, 640, 641, 642, 643, 644, 646, 647, 648, 649, 650, 651, 652, 653, 654, 655, 656, 657, 658, 659, 660, 661, 662, 663, 664, 667 to and including 682, all nominations on the Secretary's desk in the Air Force, Army, Coast Guard, Foreign Service, NOAA, Marine Corps and Navy, and that the Foreign Relations Committee be discharged from consideration of PN 1815, Lyndon L. Olson, and the Banking Committee be discharged from further consideration of PN 568, Elizabeth A. Duke, and the HELP Committee be discharged from further consideration of PN 1501, Constance Barker, and the Senate proceed en bloc to their consideration; that the nominations be confirmed, en bloc, the motions to reconsider be laid upon the table, en bloc, that no further motions be in order; provided further that the President be immediately notified of the Senate's action, and the Senate return to legislative session.

Mr. LEVIN

Mr. LEVIN. Mr. President, I ask unanimous consent that the Senate proceed to the immediate consideration of Calendar No. 443, H.R. 3564.

Mr. LEVIN. Mr. President, I ask unanimous consent that a Coburn amendment which is at the desk be agreed to, the bill, as amended, be read a third time and passed, the motions to reconsider be laid upon the table with no intervening action or debate, and that any statements relating to the bill be printed in the Record.

Mr. LEVIN

Mr. LEVIN. Mr. President, I ask unanimous consent that when the Senate completes its business today, it stand adjourned until 10 a.m. on Monday, June 30 for a pro forma session only; that following the pro forma session, the Senate stand adjourned under the provisions of H. Con. Res. 379, the adjournment resolution, until 2 p.m. on Monday, July 7; that following the prayer and pledge, the Journal of proceedings be approved to date, the morning hour be deemed expired, the time for the two leaders be reserved for their use later in the day, and the Senate proceed to a period of morning business until 3 p.m., with Senators permitted to speak for up to 10 minutes each; that following morning business, the Senate resume consideration of the House message to accompany H.R. 3221, the housing reform legislation, as under the previous order; I further ask that the Record remain open until 2 p.m. for the introduction of statements, cosponsorships, introduction of bills, and committee reporting.

Mr. LEVIN

Mr. LEVIN. Mr. President, under a previous order, at 5:30 p.m. on Monday, the Senate will proceed to a cloture vote on the motion to concur with respect to the housing reform legislation. As Senator Reid stated earlier today, last night we were able to reach an agreement with respect to the FISA legislation. When we return from the Fourth of July recess, we will take up the FISA legislation and consider three amendments with limited debate time. Senators should be prepared to debate and vote on FISA on Tuesday, July 8.

Mr. LEVIN

Mr. LEVIN. If there is no further business to come before the Senate, I ask unanimous consent it stand adjourned under the previous order.

Mr. LEVIN

Mr. LEVIN. Mr. President, I support the Medicare Improvements for Patients and Providers Act, H.R.6331, which makes a number of needed changes related to Medicare reimbursement, including reimbursement for physicians' services. Medicare physician fee schedule payments are updated each year according to a complex formula based on a sustainable growth rate, SGR. Unfortunately, because of the way the formula is calculated, even if Congress prevents the cuts in a given year, scheduled reimbursements cuts are likely to increase in subsequent years unless Congress takes additional action, such as developing a permanent alternative to the SGR formula. I support efforts to ensure that physicians receive adequate reimbursement for their services. It could be financially unsound for physicians to continue to provide services to Medicare beneficiaries if reimbursement is inadequate. As a result, allowing reimbursement cuts to enter into effect could pose significant access problems as physician's are unable to afford providing services to Medicare beneficiaries in need of medical attention. While I believe past measures to alleviate this burden on physicians have been helpful, I know from my discussions with health care providers throughout Michigan that more needs to be done. For the long term, Congress must find an alternative to the SGR. The SGR is linked not to the cost of providing health services, but to the performance of the overall economy. The cost of health care has been rising much faster than inflation. Our Nation should address the rising costs of health care as part of a larger discussion on health care reform. Reimbursement should more accurately represent the cost of providing services. In the meantime, I support this legislation, which includes a delay on Medicare reimbursement cuts for physicians' services and replaces the cut with a 1.1-percent increase for 2009. I am hopeful that the Senate will pass this legislation and that the President will heed the will of Congress and the American people and sign this bill into law before the cuts enter into effect on July 1.

Mr. LEVIN

Mr. LEVIN. Mr. President, I strongly support the extension of unemployment insurance benefits. Extending unemployment insurance benefits would fairly and rightly extend much needed assistance to Americans who are struggling to find jobs. While I was disappointed that the provision in this bill does not include extra benefits for states with high unemployment rates, I believe this unemployment insurance extension, or benefits of an additional 13 weeks for all States, is an important step forward. If the trend of rising unemployment rates continues, it is my hope that Congress will consider another emergency unemployment insurance package that will do more to help states struggling with the highest rates of unemployment. The Nation's unemployment rate jumped to 5.5 percent in May from 5 percent in April--the biggest jump in 1 month in 22 years. Since the beginning of the Bush administration, Michigan has suffered significant jobs losses and the State's unemployment rate has increased from 4.5 percent in January 2001 to 8.5 percent in May of this year, the highest unemployment rate in the Nation. Michigan has not seen an unemployment rate this high since October of 1992. For too long, the administration has stood idle as 3.3 million manufacturing jobs have been lost, and as working families have felt the squeeze of the rising costs of energy, health care and food. An estimated 428,000 Michigan residents were unemployed in May. Between May 2007 and May of this year, over 170,000 residents exhausted their unemployment benefits and could not find jobs. This year, on average each month about 15,000 more Michigan residents face this same predicament. President Bush's opposition to an extension of unemployment benefits is apparently based on his belief that, somehow, the availability of unemployment benefits would discourage people from looking for a job. I am disappointed that President Bush would repeat this tired and inaccurate excuse for failing to provide Americans the help they need in these tough times. The devastating reality is that about 7.6 million Americans are unemployed and cannot find jobs, not because they are refusing to look, but because the labor market simply does not have the jobs. Millions of workers have been searching for a job for over 6 months, to no avail. The number of long-term unemployed workers is now higher than when it was when we provided an unemployment insurance extension in 2002. The high rate of unemployment has disproportionately affected veterans, minorities, and young people. While Americans continue to search high and low for a job, their unemployment benefits are running out. Our people face tremendous economic pressures, from a rate of home foreclosures that is up 130 percent from 2006, soaring costs of health care, to skyrocketing prices for food and gas. Unfortunately, this situation is unlikely to improve soon. Since President Bush took office, the price of health insurance is up 44 percent, the price of college tuition is up 47 percent, the price of gas is up 95 percent, the Federal debt has almost doubled and the dollar has lost a third of its value. Meanwhile, American families are facing a cost crunch. According to a study by a prominent Harvard Law School professor, the median household income fell by $1,175, in 2007 dollars, between 2000 and 2006. During that same period, consumer expenditures for basic family needs such as mortgage payments, gas, food, phone bills, household appliances, and health insurance increased by $3,552, also in 2007 dollars. Available data in 2008 suggest that the cost of basic needs has continued to increase since 2006, and, between a lower real income and higher basic costs, families are facing as much as a $5,700 shortfall, as compared with 2000 figures. Extending unemployment insurance during times of recession is nothing new. In the past 30 years, Congress has acted three times to establish temporary extended unemployment benefits, each time during a recession. On average, the length of time that Americans have struggled to get by without a job is longer than it has been in the 30 years since Congress first extended unemployment insurance benefits. Extending unemployment insurance during tough times is one of the most effective ways to stimulate the economy, dollar for dollar, and this money can be distributed within weeks. Extending unemployment insurance is essential to provide much-needed support to those who have lost their jobs and are struggling to reenter the job market. Workers who receive these unemployment benefits are likely to spend them quickly, making this one of the fastest ways to infuse money into our economy in the short term. I supported an economic stimulus package considered in the Senate, which included important provisions including an unemployment insurance extension. Unfortunately, this legislation was blocked due to a filibuster by Senate Republicans. It was deeply disappointing that the Senate was forced to pass a short-term stimulus package that did not include an unemployment insurance extension. On May 22, 2008, the Senate overwhelmingly supported an amendment to the Emergency Supplemental bill that included a 13-week extension for unemployment benefits, with an additional 13 weeks for states like Michigan with high levels of unemployment. While the latter important provision is not included in the bill before us, I believe Congress must act with urgency to provide an emergency unemployment extension and therefore I support this legislation.

Mr. LEVIN

Mr. LEVIN. Mr. President, for the Committee on Armed Services I report favorably the following nomination lists which were printed in the Records on the dates indicated, and ask unanimous consent, to save the expense of reprinting on the Executive Calendar that these nominations lie at the Secretary's desk for the information of Senators.

Mr. LEVIN

Mr. LEVIN. Mr. President, I would like to take a moment to talk about World Refugee Day, which we recently recognized, and offer some observations on the millions of refugees around the world and our efforts to aid them. Refugees find themselves in the immensely difficult position of being unable to return to their homeland, yet stuck without any place else to turn. They are often the targets of persecution due to their race, religion, political associations, or other traits that should be worthy of respect rather than a threat on one's life. The theme of this year's World Refugee Day is ``protection,'' with a particular focus on shining a bright light on the plight of refugees around the world, so that the world community takes action to ensure their safety. While refugees deserving of our attention exist in many places around the world, one area of significant concern is the refugee situation in Iraq. The U.N. estimates that over 4 million Iraqis have been displaced by violence, with 1.5 million living in Syria and over 1 million in Jordan, Iran, Egypt, Lebanon, Yemen and Turkey. It is a staggering humanitarian crisis. As part of the National Defense Authorization Act for Fiscal Year 2008, Congress adopted the Iraqi Refugee Crisis Act, which I sponsored along with a number of my colleagues. This legislation creates a process for Iraqis who have offered assistance to our forces in Iraq to apply directly to the United States for refugee status. It is clear that the United States has a special obligation to help this population. The largest community of Iraqi Christians in the world outside of Iraq is in Michigan, which makes this issue particularly significant for me and my constituents. The stark reality is that Iraq is just one small part of the tragic refugee situation around the world. Thon Chol, who was one of the ``Lost Boys of Sudan,'' is currently serving as an intern in my Washington, DC, office. He recently graduated with a master's degree in social work from Western Michigan University. His success is hard earned, but his story underscores the point that refugees deserve our attention as well as our aid and protection. Thon was forced to flee his hometown at age 6. While attempting to reach Ethiopia he was one of thousands who faced dehydration, famine, and attacks from wild animals and Government soldiers alike. He lost most of his family, witnessing many deaths himself. He reached a refugee camp in 1987, was forced back to Sudan due to the civil war in Ethiopia in 1991, and then eventually traveled to live in a refugee camp in Kenya for 8 years before being one of less than 4,000 Lost Boys permitted to settle in the United States and moving to Grand Rapids, MI. Many are now American citizens. Thon's remarkable educational achievements are in line with others who were in his situation; many have sought degrees beyond high school, ranging from community college to one student who is pursuing a master's degree at Yale University. Thon and others have committed themselves to returning to Sudan to teach democratic values and religious freedom. There are many challenges even for those very few refugees who have been granted asylum or citizenship in welcoming countries, including cultural adjustments, difficulties in uniting separated families, obtaining work skills, and adapting to an unfamiliar climate. In Michigan, numerous volunteers, community organizations, churches, and businesses have come together to assist refugees who come to our state. On this World Refugee Day, I offer my praise and appreciation for the organizations and individuals--both those local to Michigan and those international in scope--who are committed to helping refugees find some stability and normalcy, and I urge my colleagues to consider what we can do to help the millions who are suffering right now. Individuals who wish to help can begin by visiting the U.N. Refugee Agency website at http://www.unhcr.org.

Mr. LEVIN

Mr. LEVIN. Mr. President, we are nearing the end, I hope, of what is surely one of the longest judicial nomination sagas in U.S. history. Judge White was previously nominated by President Clinton for a vacancy on the Sixth Circuit of the Court of Appeals starting in 1997. Her nomination was returned to the President without a hearing. Another nominee of President Clinton was also returned without a hearing. That was the nomination of Kathleen McCree Lewis in 1999. Judge White has been serving as a judge on the Court of Appeals of Michigan since 1993, and I believe she has participated in more than 4,000 decisions. Before that, she served as a judge on the Wayne County Circuit Court from 1983 to 1993, and that is Michigan's top trial court. Judge White, as have our other nominees, has been given a ``well-qualified'' rating by the American Bar Association's standing committee, and President Bush has called Judge White ``an experienced and highly qualified judge who is known for her intellect, work ethic, and demeanor.'' The second nominee for the Sixth Circuit is Raymond Kethledge, currently a partner at the Bush, Seyferth firm in Detroit, MI. Before joining that firm, Mr. Kethledge was a law clerk to Justice Anthony Kennedy on the U.S. Supreme Court and earlier clerked for a judge well known to those of us in Michigan, beloved Judge Ralph Guy of the U.S. Court of Appeals for the Sixth Circuit. Mr. Kethledge also served as judiciary counsel for Senator Spencer Abraham from 1995 to 1997, and he graduated magna cum laude from the University of Michigan Law School in 1993. Steven Murphy, who is the nominee for the Eastern District position, currently serves as U.S. attorney for the Eastern District of Michigan. Prior to his service as U.S. attorney, Mr. Murphy was an attorney with the General Motors legal staff in Detroit. He worked for the U.S. Department of Justice for more than 12 years. I wish to take this opportunity to recognize the life and the work of Kathleen McCree Lewis who, as I mentioned, was nominated by President Clinton in 1999 for a seat on the Sixth Circuit Court of Appeals. Kathy McCree Lewis passed away last year. She never had her hearing and opportunity to be voted on by the Senate. She was dedicated to her profession and to her family. While she is no longer with us, we remember her today. The seat that Judge White is being nominated for on the Sixth Circuit is the same seat that was held by a wonderful woman, Judge Susan Bieke Neilson. She held that seat for a tragically short period of 2 months. This vote is also a vote to Judge Neilson. Her husband, Jeffrey Neilson, wrote Chairman Leahy back in April that he believed that Helene White ``will reflect the best qualities of both Susan and Kathleen in the performance of her duties, so that although death has precluded their presence on the Sixth Circuit, they will be there in spirit. Finally, I thank Chairman Leahy and our Democratic leader, Harry Reid, for all they have done to make it possible that we can finally, hopefully, resolve this Michigan issue that has been stymied in the Sixth Circuit and Eastern District for far too long, with a bipartisan resolution the President has sent us on these three nominees with his full support in the Senate. I hope the Senate will give an overwhelming vote to Judge White but also then adopt a voice vote for the other two nominees.

Mr. LEVIN

Mr. LEVIN. Mr. President, I ask unanimous consent that Dionne Thompson, a fellow in the office of Senator Landrieu, be given floor privileges during the current session.

Mr. LEVIN

Mr. LEVIN. Mr. President, I am pleased that the Senate is acting on the House Concurrent Resolution, H. Con. Res. 325, which was introduced by Congressman Stupak and recognizes the celebration of the 50th anniversary of the Mackinac Island State Park Commission's Historical Preservation and Museum Program. This anniversary, which will take place on June 15, 2008, honors the work of the Commission to protect, preserve, and communicate the rich history and natural wonders of Mackinac Island. Located in the heart of the Great Lakes, between Michigan's Upper and Lower Peninsulas, Mackinac Island is an important part of this Nation's history. In colonial years, the island provided strategic fur-trading posts for French, British, and American settlements. During the Civil War, Britain's Fort Mackinac was established on this island and the fort was also used during the War of 1812. In 1817, the village of Mackinac was incorporated and served as the seat for the territorial county of Michilimackinac, which covered much of what is now Michigan. It also functioned as the seat of Mackinac County from 1849 through 1882. The island was considered a sacred place to Native Americans and functioned as a tribal gathering place and burial site. Today, the island is a popular tourism destination where people can relax, enjoy nature, and learn about history. Since its inception in 1895, the Mackinac Island State Park Commission has been actively engaged in a variety of restoration activities and has worked to interpret and communicate the multiple stories of this important island to millions of visitors. The Commission has participated in a number of initiatives, including archeological excavation, lighthouse restoration, and exhibit installation, to protect and manage the historic resources of the park. The U.S. Congress recognized the significance of Mackinac when it established the Mackinac Island National Park in 1875, making it the Nation's second National Park after Yellowstone. In 1895, park ownership was transferred to the State of Michigan, creating Michigan's first State park. In 1958, the Mackinac Island State Park Commission established the Historical Preservation and Museum Program. This program has served as the primary caretaker and purveyor of the Island's considerable tale. I am pleased to extend my warmest congratulations to those individuals involved with this program who have painstakingly restored and preserved Mackinac Island for future generations.

Mr. LEVIN

Mr. LEVIN. Mr. President, today I am introducing, along with Senators Feinstein, Durbin, and Dorgan, the Close the London Loophole Act. This legislation would ensure that the Commodity Futures Trading Commission, CFTC, has the same authority to detect, prevent, and punish manipulation and excessive speculation for traders in the United States who trade crude U.S. oil or other energy commodities on foreign commodity exchanges as the CFTC has for traders who trade on U.S. exchanges. Today, U.S. crude oil and gasoline futures are traded primarily on exchanges in New York and London. While the CFTC--our cop on the beat-- has clear authority to go after trading abuses on the New York exchange, its authority is less clear when it comes to U.S. energy commodities traded on the London exchange. The bill we are introducing today would close the London loophole by ensuring the CFTC has all the information and authority it needs to stop price manipulation or excessive speculation involving U.S. energy trades on foreign exchanges. Under current law, the CFTC obtains the information it needs to detect price manipulation and excessive speculation involving U.S. energy trades on foreign exchanges only through voluntary data-sharing agreements it arranges with the relevant foreign regulators. In many instances, the CFTC can take action against a U.S. trader on a foreign exchange to prevent manipulation or excessive speculation only with the cooperation and consent of the foreign regulator. Our bill would strengthen CFTC oversight by providing the CFTC with clear legal authority, as well as a clear legal obligation, to obtain trading data from foreign exchanges operating in the United States through direct trading terminals. In addition, the bill would enable the CFTC to act on its own authority and initiative to prevent manipulation or excessive speculation by U.S. traders directing trades through foreign exchanges. This new authority would ensure that our own government has the information and ability to protect American markets from manipulation and excessive speculation, no matter where U.S. energy commodities are traded. U.S. traders will no longer be able to avoid the cop on the beat by routing their trades through a foreign exchange. This legislation would complement a recent legislative initiative I have long worked on to ensure that U.S. commodity markets are free from manipulation and excessive speculation. Last month the Congress passed, over the President's veto, legislation to close the Enron loophole. This loophole, enacted into law in 2000 at the behest of Enron and other commodity traders, had allowed large traders to buy and sell energy commodities on U.S. electronic markets without CFTC oversight. The legislation passed last month as part of the farm bill gave the CFTC the authority and mandate to police U.S. electronic exchanges to stop price manipulation and excessive speculation. No longer will these electronic commodity exchanges be able to operate in the dark, as they had under the Enron loophole. Closing the Enron loophole is a major advance in U.S. energy market oversight as a whole, and for our natural gas markets in particular, but it is not enough. Because over the last two years, energy traders have begun trading U.S. crude oil, gasoline, and home heating oil on the London exchange, beyond the direct reach of U.S. regulators, we have to address that second loophole too. I call it closing the London loophole. There are currently two key energy commodity markets for U.S. crude oil, gasoline, and heating oil trading. The first is the New York Mercantile Exchange or NYMEX, located in New York City. The second is the ICE Futures Europe exchange, located in London and regulated by the British agency called the Financial Services Authority. British regulators do not oversee their energy markets the same way we do. They don't place limits on speculation like we do, they don't monitor trader positions like we do, and they do not require the same type of data to be reported to regulatory authorities. That means that traders can avoid U.S. crude oil speculation limits on the New York exchange by trading on the London exchange. It also makes the London exchange less transparent than the New York exchange. The legislation I introduced last year to close the Enron loophole would have required U.S. traders on the London exchange to provide U.S. regulators with the same type of trading information that they are already required to provide when they trade on the New York Mercantile Exchange. Unfortunately, this provision was dropped from the close-the-Enron- loophole legislation in the farm bill. The Consumer-First Energy Act, S. 3044, which the Majority Leader and others introduced recently to address high prices and reduce speculation, included at my request a provision to curb rampant speculation, increase our access to foreign exchange trading data, and strengthen oversight of the trading of U.S. energy commodities no matter where that trading occurs. This provision would require the CFTC, prior to allowing a foreign exchange to establish direct trading terminals located in this country, to obtain an agreement from that foreign exchange to impose speculative limits and reporting requirements on traders of U.S. energy commodities comparable to the requirements imposed by the CFTC on U.S. exchanges. This issue is so important that I introduced this section of the package as a separate bill, S. 2995, along with Senator Feinstein. Following the introduction of our legislation, the CFTC finally moved to address some of the gaps in its ability to oversee foreign exchanges operating in the United States. Specifically, the CFTC, working with the United Kingdom Financial Services Authority and the ICE Futures Europe exchange, announced that it will now obtain the following information about the trading of U.S. crude oil contracts on the London exchange: daily large trader reports on positions in West Texas Intermediate or WTI contracts traded on the London exchange; information on those large trader positions for all futures contracts, not just a limited set of contracts due to expire in the near future; enhanced trader information to permit more detailed identification of end users; improved data formatting to facilitate integration of the data with other CFTC data systems; and notification to the CFTC of when a trader on ICE Futures Europe exceeds the position accountability levels established by NYMEX for the trading of WTI crude oil contracts. These new steps will strengthen the CFTC's ability to detect and prevent manipulation and excessive speculation in the oil and gasoline markets. It will ensure that the CFTC has the same type of information it receives from U.S. exchanges in order to detect and prevent manipulation and excessive speculation on the London exchange. However, in order to fully close the London loophole, better information is not enough. The CFTC must also have clear authority to act upon this information to stop manipulation and excessive speculation. That is why I have been working with the sponsors of the Consumer- First Energy Act to develop additional language to ensure that the CFTC has the authority to act upon the information obtained from the London exchange to prevent price manipulation and excessive speculation. This new provision would make it clear that the CFTC has the authority to prosecute and punish manipulation of the price of a commodity, regardless of whether the trader within the United States is trading on a U.S. or on a foreign exchange. It would also make it clear that the CFTC has the authority to require traders in the United States to reduce their positions, no matter where the trading occurs--on a U.S. or foreign exchange--to prevent price manipulation or excessive speculation in U.S. commodities. Finally, it would clarify that the CFTC has the authority to require all U.S. traders to keep records of their trades, regardless of which exchange the trader is using. This new provision is included in the bill we are introducing today. I hope that it will also be included in the Consumer-First Energy Act when Senate debate is allowed to go forward on that bill. In closing the London loophole, we will ensure there is a cop on the beat for all U.S. energy commodity traders, no matter whether they are trading on an exchange in New York or in London. It will ensure that our regulators have the information and the tools to detect, prevent, and punish manipulation and excessive speculation.

Mr. LEVIN

Mr. LEVIN. Mr. President, today I am introducing, along with Senators Feinstein, Durbin, and Dorgan, the Close the London Loophole Act. This legislation would ensure that the Commodity Futures Trading Commission, CFTC, has the same authority to detect, prevent, and punish manipulation and excessive speculation for traders in the United States who trade crude U.S. oil or other energy commodities on foreign commodity exchanges as the CFTC has for traders who trade on U.S. exchanges. Today, U.S. crude oil and gasoline futures are traded primarily on exchanges in New York and London. While the CFTC--our cop on the beat-- has clear authority to go after trading abuses on the New York exchange, its authority is less clear when it comes to U.S. energy commodities traded on the London exchange. The bill we are introducing today would close the London loophole by ensuring the CFTC has all the information and authority it needs to stop price manipulation or excessive speculation involving U.S. energy trades on foreign exchanges. Under current law, the CFTC obtains the information it needs to detect price manipulation and excessive speculation involving U.S. energy trades on foreign exchanges only through voluntary data-sharing agreements it arranges with the relevant foreign regulators. In many instances, the CFTC can take action against a U.S. trader on a foreign exchange to prevent manipulation or excessive speculation only with the cooperation and consent of the foreign regulator. Our bill would strengthen CFTC oversight by providing the CFTC with clear legal authority, as well as a clear legal obligation, to obtain trading data from foreign exchanges operating in the United States through direct trading terminals. In addition, the bill would enable the CFTC to act on its own authority and initiative to prevent manipulation or excessive speculation by U.S. traders directing trades through foreign exchanges. This new authority would ensure that our own government has the information and ability to protect American markets from manipulation and excessive speculation, no matter where U.S. energy commodities are traded. U.S. traders will no longer be able to avoid the cop on the beat by routing their trades through a foreign exchange. This legislation would complement a recent legislative initiative I have long worked on to ensure that U.S. commodity markets are free from manipulation and excessive speculation. Last month the Congress passed, over the President's veto, legislation to close the Enron loophole. This loophole, enacted into law in 2000 at the behest of Enron and other commodity traders, had allowed large traders to buy and sell energy commodities on U.S. electronic markets without CFTC oversight. The legislation passed last month as part of the farm bill gave the CFTC the authority and mandate to police U.S. electronic exchanges to stop price manipulation and excessive speculation. No longer will these electronic commodity exchanges be able to operate in the dark, as they had under the Enron loophole. Closing the Enron loophole is a major advance in U.S. energy market oversight as a whole, and for our natural gas markets in particular, but it is not enough. Because over the last two years, energy traders have begun trading U.S. crude oil, gasoline, and home heating oil on the London exchange, beyond the direct reach of U.S. regulators, we have to address that second loophole too. I call it closing the London loophole. There are currently two key energy commodity markets for U.S. crude oil, gasoline, and heating oil trading. The first is the New York Mercantile Exchange or NYMEX, located in New York City. The second is the ICE Futures Europe exchange, located in London and regulated by the British agency called the Financial Services Authority. British regulators do not oversee their energy markets the same way we do. They don't place limits on speculation like we do, they don't monitor trader positions like we do, and they do not require the same type of data to be reported to regulatory authorities. That means that traders can avoid U.S. crude oil speculation limits on the New York exchange by trading on the London exchange. It also makes the London exchange less transparent than the New York exchange. The legislation I introduced last year to close the Enron loophole would have required U.S. traders on the London exchange to provide U.S. regulators with the same type of trading information that they are already required to provide when they trade on the New York Mercantile Exchange. Unfortunately, this provision was dropped from the close-the-Enron- loophole legislation in the farm bill. The Consumer-First Energy Act, S. 3044, which the Majority Leader and others introduced recently to address high prices and reduce speculation, included at my request a provision to curb rampant speculation, increase our access to foreign exchange trading data, and strengthen oversight of the trading of U.S. energy commodities no matter where that trading occurs. This provision would require the CFTC, prior to allowing a foreign exchange to establish direct trading terminals located in this country, to obtain an agreement from that foreign exchange to impose speculative limits and reporting requirements on traders of U.S. energy commodities comparable to the requirements imposed by the CFTC on U.S. exchanges. This issue is so important that I introduced this section of the package as a separate bill, S. 2995, along with Senator Feinstein. Following the introduction of our legislation, the CFTC finally moved to address some of the gaps in its ability to oversee foreign exchanges operating in the United States. Specifically, the CFTC, working with the United Kingdom Financial Services Authority and the ICE Futures Europe exchange, announced that it will now obtain the following information about the trading of U.S. crude oil contracts on the London exchange: daily large trader reports on positions in West Texas Intermediate or WTI contracts traded on the London exchange; information on those large trader positions for all futures contracts, not just a limited set of contracts due to expire in the near future; enhanced trader information to permit more detailed identification of end users; improved data formatting to facilitate integration of the data with other CFTC data systems; and notification to the CFTC of when a trader on ICE Futures Europe exceeds the position accountability levels established by NYMEX for the trading of WTI crude oil contracts. These new steps will strengthen the CFTC's ability to detect and prevent manipulation and excessive speculation in the oil and gasoline markets. It will ensure that the CFTC has the same type of information it receives from U.S. exchanges in order to detect and prevent manipulation and excessive speculation on the London exchange. However, in order to fully close the London loophole, better information is not enough. The CFTC must also have clear authority to act upon this information to stop manipulation and excessive speculation. That is why I have been working with the sponsors of the Consumer- First Energy Act to develop additional language to ensure that the CFTC has the authority to act upon the information obtained from the London exchange to prevent price manipulation and excessive speculation. This new provision would make it clear that the CFTC has the authority to prosecute and punish manipulation of the price of a commodity, regardless of whether the trader within the United States is trading on a U.S. or on a foreign exchange. It would also make it clear that the CFTC has the authority to require traders in the United States to reduce their positions, no matter where the trading occurs--on a U.S. or foreign exchange--to prevent price manipulation or excessive speculation in U.S. commodities. Finally, it would clarify that the CFTC has the authority to require all U.S. traders to keep records of their trades, regardless of which exchange the trader is using. This new provision is included in the bill we are introducing today. I hope that it will also be included in the Consumer-First Energy Act when Senate debate is allowed to go forward on that bill. In closing the London loophole, we will ensure there is a cop on the beat for all U.S. energy commodity traders, no matter whether they are trading on an exchange in New York or in London. It will ensure that our regulators have the information and the tools to detect, prevent, and punish manipulation and excessive speculation.

Mr. LEVIN

Mr. LEVIN. Mr. President, I am delighted to submit this resolution today, along with my Michigan colleague, Senator Stabenow, congratulating the Detroit Red Wings on a hard-fought victory over the Pittsburgh Penguins in the 2008 Stanley Cup finals. Last Wednesday night, the Red Wings captured Lord Stanley's Cup for the fourth time in 11 years, marking the 11th Stanley Cup Championship in the Red Wings' storied 81-year history. The 2008 Championship was secured through grit, and the strength of team work. As Kris Draper said after the series clinching win, ``Once again, our resolve came through.'' This resolve, and the winning tradition that spans every level of the Red Wings organization, has been fostered over the years by the Ilitch family, whose commitment to winning championships and to the Detroit community are second to none. The Red Wings season was defined by a physically dominating team that was able to control play at both ends of the ice. After winning three difficult playoff series on the road, the Red Wings followed up a heart-wrenching, triple-overtime loss at Joe Louis Arena in Detroit, with an equally epic 3-2 heart-stopping cup-clinching victory in Pittsburgh. Moments after cutting Detroit's lead in half with a power- play goal with just 1:27 remaining, Pittsburgh swiftly pushed the puck back deep into the Red Wings' zone. As time seemingly slowed, Red Wings fans tensely watched, hoping their team would be able to withstand this final onslaught. With the final seconds ticking away, a Pittsburgh player launched a backhander toward the goal, goalie Chris Osgood dove to the ice, stretching his pad to the post trying to block any rebound attempt. Another Penguin slapped at it, and almost unimaginably, the puck slithered all the way along the goal line, daring to throw the game into yet another overtime inferno. And with that, the horn sounded, giving Red Wings fans everywhere the sweet taste of victory. I immediately called my daughter Erica to share in her joy as a Red Wing fanatic. Knowing that for her, those last few seemed like an eternity. This euphoria spilled out into the streets of Detroit last Friday, where over a million fans joined the Red Wings organization in celebration. Unfazed by the 92-degree heat, the Red Wings faithful flaunted their red and white, swelling with pride over victoriously navigating the difficult path to the cup. Throughout the season, each member of the Red Wings organization worked tirelessly toward their ultimate goal to bring the Cup home to Hockeytown. The members of the 2008 Red Wings include Andrea Lilja, Kyle Quincey, Niklas Lidstrom, Justin Abdelkader, Dan Cleary, Pavel Datsyuk, Derek Meech, Dallas Drake, Kirk Maltby, Aaron Downey, Brett Lebda, Brad Stuart, Chris Chelios, Darren McCarty, Jiri Hudler, Brian Rafalski, Kris Draper, Mikael Samuelsson, Henrik Zetterberg, Mattias Ritola, Darren Helm, Mark Hartigan, Jakub Kindl, Valtteri Flippula, Jonathan Ericsson, Niklas Kronwall, Thomas Kopecky, Johan Franzen, Thomas Holmstrom, Chris Osgood, Jimmy Howard, Dominik Hasek, Head Coach Mike Babcock, and Assistant Coaches Paul McLean and Todd McLellan. The Red Wings are one of the original six teams of the National Hockey League, and since their inception in 1926, have been a constant source of pride and inspiration for hockey fans throughout Michigan. The Red Wings have won the third most Stanley Cup Championships in the NHL, earning the distinction as one of the NHL's most successful franchises, and the most dominating over the past decade and a half. The Red Wings excellence, along with the undying love and support of the fans in Michigan and the enormous popularity of hockey in Michigan, make it clear why Detroit is widely known as Hockeytown, U.S.A. Veterans such as Nicklas Lidstrom, Chris Chelios, Darren McCarty, Kris Draper and Kirk Maltby have remained integral figures on the ice and positive role models in the community for many years. Dearborn native Brian Rafalski, and Northern Michigan Alum Dallas Drake further deepen the team's Michigan roots. Drake returned this year to the team that drafted him and can now add a Stanley Cup championship to the one he earned as a member of the 1991 Northern Michigan University NCAA hockey championship team. While this is first and foremost a team accomplishment, I would be remiss not to highlight a couple of individuals who contributed mightily to the team's overall success. Henrick Zetterberg, the Conn Smythe trophy winner, set a Red Wings playoff record with 27 points, including a remarkable six goal effort in the finals, the last of which proved to be the series clincher. In addition, Captain Nicklas Lidstrom, with his calm demeanor and unshakable nerve, became the first European born player to captain an NHL team to a Stanley Cup championship. The Red Wings continue to set the standard for championship-caliber hockey and teamwork. From long-time members of the Red Wings organization, to veteran additions to the roster, to new, young talent that helped to energize the team, the 2008 team united and won in classic Red Wings fashion. In doing so, the Red Wings have once again taken hockey fans across the country on a tremendous journey. Let the record reflect a symbolic gesture as if to throw an octopus onto the floor of the Senate. Go Wings! I know my colleagues join me in congratulating the players, owners, and fans of the Detroit Red Wings on capturing the Stanley Cup once again.