House Proceeding 09-14-09 on Sep 14th, 2009 :: 0:20:35 to 0:25:50
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0:20:31 to 0:20:52( Edit History Discussion )

Marcy Kaptur: would do well to listen, be interests of the american people. and that's ju the way it is. the speaker pro tempore: for what purpose does the gentlelady from ohio rise? without objection, so ordered. ms. kaptur: mr. speaker, today marks the one-year anniversary

0:20:35 to 0:25:50( Edit History Discussion )
Speech By: Marcy Kaptur

0:20:53 to 0:21:13( Edit History Discussion )

Marcy Kaptur: of the fall of lehman brothers. just prior to that, former treasury se goldman sachs executive, hank paulson, and fed chairman ben bernanke and then president of the federal reserve bank of new york and now treasury secretary, tim geithner, bailed out fannie mae, freddie mac and orchestrated the first of multiple traunches of taxpayer

0:21:14 to 0:21:35( Edit History Discussion )

Marcy Kaptur: money to a.i.g. some marked the fall of lehman as the start of our financial crisis. but it started long before. it started on wall street, the very place that president obama gave his financial regulatory reform speech today. the president stated and quote, restoring a willingness to take responsibility, even when it is

0:21:36 to 0:21:56( Edit History Discussion )

Marcy Kaptur: hard, is at the heart of what we must do. very carefully worded, mr. president. but what real reform will assure it? willing to take responsibility. mr. president, wall street has responsibility for the greed they bred, for ripping off

0:21:57 to 0:22:17( Edit History Discussion )

Marcy Kaptur: american taxpayers and taking exorbitant profits, destroying anything and anyone in its path and then taking more bonuses and continuing to live their high life. wall street will never willingly and openly accept its responsibility for their role in our financial system's down

0:22:18 to 0:22:38( Edit History Discussion )

Marcy Kaptur: fall. it's our responsibility to hold them accountable. it is too late to ask wall street to play nice. and make reforms. they had th blew it. you can be sure they are going to pay millions to lobbyists and pacts to protect their bonuses loopholes, their safety nets and the current structure of banking in this country. it's time to face down wall

0:22:39 to 0:22:59( Edit History Discussion )

Marcy Kaptur: street and stand up for main street. the time spent waiting for wall street's willingness to change is over. the results of the taxpayer bailout are clear. more profits for wall street plus massive bonuses while foreclosures skyrocket across this country. wall sreet had its chance to open credit lines to business as

0:23:00 to 0:23:21( Edit History Discussion )

Marcy Kaptur: well as to direct funds they got from the taxpayers to help millions of families facing foreclosure work out those loans, but instead they took the money for themselves and racked up huge profits in the last quarter. wall street had its chance to be responsible as stewards of the tax dollars they got. they failed. they didn't even try.

0:23:22 to 0:23:44( Edit History Discussion )

Marcy Kaptur: wall street banks cannot even tell us where the tarp dollars, that is the taxpayer dollars, went. the arms of their businesses, whh service loans, are moving at a snail's pace to help people find ways to work out their mortgages and why? because they can make more money when loans are delinquent. the pace of loaning to

0:23:45 to 0:24:07( Edit History Discussion )

Marcy Kaptur: businesses and people is almost stuck. what are fast d furious are the payouts of bonuses and profits. wall street executives like lloyd blankfein are walleting around the changes but talk is cheap because it costs them nothing. it's a good press release. name me one wall street

0:24:08 to 0:24:28( Edit History Discussion )

Marcy Kaptur: money-centered bank that has restructured its compensation structures. wall street is fighting to have custom credit default swaps and otr derivative instruments remain unregulated in the coming so-called reforms this congress might consider. this moment in history marks the time for each member of coress and public servants at the fdic, the s.e.c., the federal reserve, the treasury, and associated

0:24:29 to 0:24:49( Edit History Discussion )

Marcy Kaptur: regulators to act and create the kind of reform that creates a credit system which stnds -- stands strong for generations and contains moral hazard. will america allow itself once again to be bought out by wall street? or will we stand together thoughtfully, deliberately, to empower regulators and reform this system with a new banking

0:24:50 to 0:25:11( Edit History Discussion )

Marcy Kaptur: system that respects communities, encourages savings, assures sound credit? will we break up the megabank concentration of financial power in the few greedy hands that are holding it today? will we move forward with a stronger, more creative, more prudent, more sound

0:25:12 to 0:25:32( Edit History Discussion )

Marcy Kaptur: community-oriented financial system again? it's time to work on a bipartisan basis to do this. we can't race, we have to debate real financial reform here, not cosmetic bills that are brought up on this floor. we must share the rationale behind reform and make it real and we must shift the balance of credit power from wall street

0:25:33 to 0:25:51( Edit History Discussion )

Marcy Kaptur: back to main street and the american people. our challenge is -- the challenge is crystal clear, the question is, do we have the will to do it here, to create a financial regulatory system again for the betterment of all people in our nation, to