-- Randy's Roundup --

A Weekly Newsletter from Congressman Randy Neugebauer

January 30, 2012

Fighting the Growth of Government

The House is expected to vote this week on two bills that help fight the out-of-control spending and unprecedented growth of government. H.R. 3578, the Baseline Reform Act, would end the automatic inflation increases in every federal department’s budget. H.R. 3582, the Pro-Growth Budgeting Act, would require the Congressional Budget Office (CBO) to analyze the economic impact of legislation and the effects it could have on small businesses’ ability to create jobs.

A vote is also expected on H.R. 1173, the Fiscal Responsibility and Retirement Security Act, which would repeal a portion of President Obama’s health care law that establishes a national insurance program for certain community services. I will continue to support any legislation that would repeal President Obama’s job-killing health care law.

Oversight Hearing will Continue to Investigate MF Global

As you may know, I am currently the Chairman of the Financial Services Subcommittee on Oversight and Investigations. On Thursday, my subcommittee will hold a hearing to continue the investigation of the $1.2 billion in missing customer funds during the bankruptcy of MF Global. The Wall Street Journal reported today that certain findings suggest that “a ‘significant amount’ of the money could have ‘vaporized’ as a result of chaotic trading at MF Global during the week before the company’s Oct. 31 bankruptcy filing.”

The hearing will look more deeply into these new reports, and question MF Global’s risk management and how that risk was disclosed to investors and customers. I do not believe money can just “vaporize” without a trace, and our aim is to find out why, where and how the $1.2 billion went missing. Functional markets are critical to risk management and price discovery. Businesses and farmers who use markets to manage their risk must be confident that their money will not simply disappear if they are market participants. On behalf of all of my constituents and Americans who utilize our financial markets, I take my oversight role very seriously.

Lone Stars of the 19th District of Texas

Traveling around the 19th District and getting to know people with extraordinary life experiences is the best part of my job. I always enjoy hearing war stories, business experiences, or just funny coincidences from friends in Texas. I wanted to highlight some of the stories that I have heard throughout the years, so I am announcing a new section of my website.

“Lone Stars of the 19th District” will focus on some of the remarkable accounts that I have heard from constituents in the 19th District of Texas. Please see the first post by clicking here. If you believe you have an interesting story about someone from the 19th District of Texas that should be posted on “Lone Stars of the 19th District,” please send an email to Rep.Randy.Neugebauer@gmail.com with "Lone Stars of the 19th" in the subject line.