House Proceeding 09-29-08 on Sep 29th, 2008 :: 0:10:24 to 0:13:14
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0:08:19 to 0:10:24( Edit History Discussion )
Speech By: Michelle Marie Bachmann

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

0:10:41 to 0:10:51( Edit History Discussion )

Rahm Emanuel: and paying more to maintain their standard of living. and seco nd, that this problem is not an earthquake, it's not a natural disaster. it's man made disaster. one in which a philosophy of

0:10:51 to 0:11:06( Edit History Discussion )

Rahm Emanuel: unregulation created that type of damage. i have come to the conclusion watching this crisis that capitalism is too important tmpo be left to capitalists alone. that the banks that are surviving

0:11:06 to 0:11:21( Edit History Discussion )

Rahm Emanuel: are the only ones regulated. the unregulated are the ones going under. people have figured out this proble m. the financial industry created things they don't themselves know what the valueow are.

0:11:21 to 0:11:34( Edit History Discussion )

Rahm Emanuel: people were buying homes that were being flipped like -- as if they were pancakes. and the regulators supposed to be policing this were asleep at the switch and they are angry at all three

0:11:34 to 0:11:46( Edit History Discussion )

Rahm Emanuel: and they have every right to be. the substance of this legislation has been improved. because last saturday the treasury department senten a bill to calm the markets down. what congress did in the

0:11:46 to 0:11:59( Edit History Discussion )

Rahm Emanuel: last -- remaining seven days is put in there protections for the taxpayers. it had nothing to start with as it related to the taxpayers. the last seven days was to make sure that the public markets

0:11:59 to 0:12:14( Edit History Discussion )

Rahm Emanuel: were as protected as the financial markets were calmed. we have made dramatic improvements in this legislation. make no doubts about it, while this may try to avert the recession in the financial

0:12:14 to 0:12:26( Edit History Discussion )

Rahm Emanuel: sector, our job is not done until we avert the recession on main street. that we once again get a growth in jobs. we once again get a growth in median household incomes. can i have an additional

0:12:26 to 0:12:39( Edit History Discussion )

Rahm Emanuel: -- chairman frank, an additional 20 seconds. mr. frank: 20 seconds. mr. emanuel: until we deal with the standard of living of the middle class and return the foundations of this economy to a middle

0:12:39 to 0:12:50( Edit History Discussion )

Rahm Emanuel: class that is strong, we will never have a healthy economy. we are doing what is responsible putting out this fire. make no doubts about it. the remaining days are to also figu re out who created

0:12:50 to 0:13:01( Edit History Discussion )

Rahm Emanuel: the fire and make sure that thatarsonnist is put into jail. i yield the remainder of my time. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from

0:13:01 to 0:13:14( Edit History Discussion )

Rahm Emanuel: alabama. mr. b achus: i yield one minute to mr. english, the gentleman from south carolina. the speaker pro tempore: the gentleman from south carolina is recognized for one minute. mr. english: i

0:13:14 to 0:13:31( Edit History Discussion )

Bob Inglis: thank the gentleman for yielding. the question before us is this -- mr. inglis: i thank the the gentleman nor yield. the question before suss this, should we buy these ill liquid securities?

0:13:14 to 0:14:52( Edit History Discussion )
Speech By: Bob Inglis