House Proceeding on May 7th, 2009 :: 0:37:50 to 0:38:45
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0:37:46 to 0:38:06( Edit History Discussion )

Dennis A. Cardoza: lawyers and irresponsible groups like acorn. madam speaker, i encourage my colleagues to vote against this rule and i reserve the balance of my time. the speaker pro tempore: the gentleman from texas reserves his time. the gentleman from california is recognized. mr. cardoza: tha you, madam speaker. i'd just respond briefly on a couple of points and say the gentleman continues to advocate

0:37:50 to 0:38:45( Edit History Discussion )
Speech By: Dennis A. Cardoza

0:38:07 to 0:38:28( Edit History Discussion )

Dennis A. Cardoza: for the policies that got us into this cris. and in fact we need to regulate this industry, not because the -- all mortgage bankers are evil. they are not. there are some very good ones. but the few have caused significant pain to both the economy, to our federal treasury and to individual homeowners.

0:38:29 to 0:38:45( Edit History Discussion )

Dennis A. Cardoza: mr. frank has designed a 5% solution that in fact i believe keeps the mortgage bankers with having skin in theame. so they can't sell off these loans, get bad loans and absolve their responsibility and let the taxpayers -- let the problem fall on the taxpayers.