House Proceeding 09-29-08 on Sep 29th, 2008 :: 0:08:19 to 0:10:24
Total video length: 1 hours 32 minutes Stream Tools: Stream Overview | Edit Time

Note: MetaVid video transcripts may contain inaccuracies, help us build a more perfect archive

Download OptionsEmbed Video

Views:400 Duration: 0:02:05 Discussion

Previous speech:

Next speech:

0:00:00 to 0:08:19( Edit History Discussion )
Speech By: Nancy Pelosi

0:08:02 to 0:08:19( Edit History Discussion )

Nancy Pelosi: their market value. what does this mean? m it means if a bank has $1 worth of deposits they can make $10 in loans f accounting rules are forcing banks to devalue assets $500 billion, that means

0:08:19 to 0:08:36( Edit History Discussion )

Michelle Marie Bachmann: banks are prohibited from making $5 trillion worth of loans and that's why we have a credit crunch. unfortunately the bill that we have before us today doesn't even address this credit crisis.

0:08:19 to 0:10:24( Edit History Discussion )
Speech By: Michelle Marie Bachmann

0:08:36 to 0:08:56( Edit History Discussion )

Michelle Marie Bachmann: let's first direct the s.e.c. to suspend market to market accounting rules for assets for which there is no market. that only makes sense. second, stop naked short selling. then t he fdic can issue

0:08:56 to 0:09:14( Edit History Discussion )

Michelle Marie Bachmann: net assets certificates that save banks during the s&l crisiss and the fdic can write a letter to united states banks telling themel in the absence of fraud that the fdic will fully back all

0:09:14 to 0:09:31( Edit History Discussion )

Michelle Marie Bachmann: deposits for first-tier creditors. let's try these practical solutions before we pull the trigger on a $700 billion bailout that doesn't even address the underlying problem. today, madam

0:09:31 to 0:09:45( Edit History Discussion )

Michelle Marie Bachmann: speaker, republicans and democrats agree. it's time for a rest, time for a break. let's embrace a practical solution before we tie a $700 billion bailout around the necks of the american people.

0:09:45 to 0:10:08( Edit History Discussion )

Michelle Marie Bachmann: i yield back. the speaker pro tempore: the gentlewoman's time has expired. the gentleman from massachusetts. mr. frank: i yield two minutes to a member who has played a leading role in bringing

0:10:08 to 0:10:24( Edit History Discussion )

Michelle Marie Bachmann: us together, the gentleman from illinois, mr. emanuel. the speaker pro tempore: the gentleman from illinois is recognized for two minutes. mr. emanuel: there have been a number of important lessons

0:10:24 to 0:10:41( Edit History Discussion )

Rahm Emanuel: learned this last year. you can't have a found on the on a weakened middled class. the last seven years they have seen incomes declined -- decline and costs go up.o they are working harder, making less,

0:10:24 to 0:13:14( Edit History Discussion )
Speech By: Rahm Emanuel