House Proceeding 03-18-09 on Mar 18th, 2009 :: 0:59:20 to 1:02:00
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0:57:00 to 1:04:15( Edit History Discussion )
Speech By: Stephen Cohen

0:59:08 to 0:59:28( Edit History Discussion )

Stephen Cohen: and he told me that he was working for nothing. i thought, well, that was noble. i said are you working for nothing? i said virtually nothing, look at what happened to my net worth. i said how about your salary? he said i'm taking less of a bonus this year. i thought that was unbelievable.

0:59:29 to 0:59:50( Edit History Discussion )

Stephen Cohen: his salary is in the millions and taking less in stock value and he said it with a straight face. i'm sure he wasn't in favor of e minimum wage. and there's something wrong with this country that people who work 40-hour weeks can't get a minimum wage and those who are masters of the universe want

0:59:51 to 1:00:11( Edit History Discussion )

Stephen Cohen: millions and millions of dollars and particularly now from government to save the business from going under. i'm on the judiciary committee and we had a bill today which we voted out which would give the attorney general the power and consultation with the secretary of the treasury to recoup those monies paid in the past and to stop those types of expenditures

1:00:12 to 1:00:32( Edit History Discussion )

Stephen Cohen: in the future on compensation to people who -- are part of businesses that have gotten extraordinary government relief, $10 billion or more in government support and say they can't -- but for the government monies, they would be in bankruptcy and taking the theory of bankruptcy and the laws

1:00:33 to 1:00:55( Edit History Discussion )

Stephen Cohen: against fraudulent conveyances in limiting the ount of monies they can give out to their management employees, limit it to a very, very decent amount. and that law would allow that money to be recaptured and prohibited in the future from those types of individuals. when you have a fraudulent conveyance, it's assumed that

1:00:56 to 1:01:16( Edit History Discussion )

Stephen Cohen: you are paying money t preferred creditors at the expense of others. a.i.g. went ahead and said they were boupped by contract to pay their gamblers, that they did it because they were boupped to, the fact is, they were fraudulent conveyances and but for the government, they wouldn't have any money to pay them.

1:01:17 to 1:01:38( Edit History Discussion )

Stephen Cohen: some people have already left. i don't know why they give money to people who left. it will probably come to the floor next week. it's a new way to approach this and an opportunity for constitutional experts to come together and fashion this unique approach for an unusual

1:01:39 to 1:02:00( Edit History Discussion )

Stephen Cohen: circumstance. we see the taxpayer and the american treasury being raped and in such a situation if it's criminal law, you allow the police to take extraordinary actions through the use of deadly force or the opportunity to have a principle hention of