Mr. BARR of Georgia. Madam Chairman,
I yield 1 minute to the distinguished
gentleman from Texas (Mr.
PAUL).
(Mr. PAUL asked and was given permission
to revise and extend his remarks.)
1999 Ron Paul 72:1 Mr. PAUL.
Madam Chairman, I
thank the gentleman from Georgia
(Mr. BARR) for yielding this time to
me.
1999 Ron Paul 72:2 Madam Chairman, if my colleagues
are opposed to Know Your Customer
regulations they must support this
amendment because this does away
with Know Your Customer regulations,
the profiling of every single customer
in this country. This notion that it is
going to ruin law enforcement is just
not valid. There is estimated $100 million
cost for one conviction by the reports
that are sent in, and this does not
prohibit the banks from sending in reports.
If there is a suspicious character,
they can still do this.
1999 Ron Paul 72:4 What it does, Madam Chairman: It
protects the consumer, it protects the
citizen, it protects the right of all
Americans. We cannot rationalize and
justify the abuse of liberty for the pretense
that on occasion we might catch
a criminal. But the fact that it could
cost $100 million per conviction is sort
of what I would call overkill.
1999 Ron Paul 72:5 What we must do is protect the
American citizen. Law enforcement
will not be hindered. If my colleagues
are opposed to Know Your Customer
regulation, they must vote for this
amendment.
Note:
1999 Ron Paul 72:1
Madam Chairman, I thank the gentleman from Georgia (Mr. BARR) for yielding this time to me. Here, Ron Paul thanks The Honorable Bob Barr.
