It's debatable if the fiduciary standard is 'higher' than suitability. But the better question might be, who's holding the bar?
Office of the Democratic Whip Steny H. Hoyer
January 4, 2013
Contact: Katie Grant, 202-225-3130
Hoyer: Let Us Act Now To Help Those Who Have Been Savaged By Sandy
WASHINGTON, DC - House Democratic Whip Steny H. Hoyer (MD) spoke on the House Floor this morning in support of H.R. 41, which will provide Federal Emergency Management Agency (FEMA) with additional funds to carry out the National Flood Insurance Program in response to Hurricane Sandy. Below are his remarks and a link to the video:
"I want to congratulate all of the Members who represent New York, New Jersey, Connecticut, Pennsylvania, and other jurisdictions who have been united in a bipartisan way to say: let us reach out, let us act now to help those who have been savaged by [Hurricane] Sandy.
"Madam Speaker, I rise in support of this bill that will help ensure flood insurance benefits will be available for those still struggling to recover from Superstorm Sandy. But I agree with [Congressman] Frank Pallone. While it is never too late to do the right thing, it is late that we are doing this thing. And we are doing only the bare minimum because the flood insurance will expire. But Frank Pallone is absolutely right.
"The Senate, hopefully, can act by unanimous consent, hopefully, on this small portion. But as we did [after Hurricane] Katrina, we should have acted almost immediately to meet the pain and suffering and loss of the citizens, our fellow citizens, our fellow Americans, who are the victims of Sandy - but should not have been the victims of our delay. I support the legislation and I urge the Speaker and all of us on both sides of the aisle to ensure that on the 15th of this month, we act for the balance of the initial dollars that will be available to assist those who have had this loss.
"I will be very supportive on the 15th, and I know that the people of Connecticut, of New Jersey, of New York, and of Pennsylvania and of America will hold the Speaker [Boehner] and all of us to the promise that no later than the 15th of this month - some 11 days from today - that we will make a full contribution to those people."