House Proceeding on Oct 3rd, 2008 :: 0:00:00 to 0:20:00
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Daniel Coughlin: the house will be t in order. the prayer will be offered by our chaplain, father coughlin. chaplain coughlin: lord, theli words of spalms

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Speech By: Daniel Coughlin

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Daniel Coughlin: -- palms 622 seem mos t fitting for us at this time. so we pr ay. in g od is our safety and glory. the rock of our strength. find your y resource in god, all you peopl e. trust the lord

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Daniel Coughlin: at all times. common folk f are only ay breath, b your great oneses an illusion. placed on theed scales they rise equally all way less than a passing breath. do not put your trust in

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Daniel Coughlin: oppres sion nor vain hope in n plunder. do n ot set your heart on riches even when they increasehe for gods has said only one thing, only too do i know that in god alone is power. toward

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Daniel Coughlin: you the lord showses love. -- showses -- shows. love. ands that is how each of you is to be repai d. eachea according tocc one's deeds. amen. the speaker: the chair has examined the journalam

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Daniel Coughlin: of the last d ay's proceedings and in announces to the house his approval thereof. pursuant to clause 1 of rule 1, the journal stands approved. a the pledge of allegiance will be led by the

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Nancy Pelosi: the gentlewoman from north carolina, congresswoman fox. ms. foxx: please join me in the pledge to our wonderful flag. i pledge allegiance to the flag g of the united states of america and to the republic

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Peter A. DeFazio: for which r it stands, one nation under god, indiv isible, with liberty l and justice for all. the speaker: the chair will entertain up to five requests for one-minute speeches on each side of the

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Speech By: Peter A. DeFazio

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Peter A. DeFazio: aisle. for what purpose does the gentleman fr oregon rise? mr. defazio: to address the house for one minute. the speaker: without objection. mr. defazio: this is at its core the same deeply flawed

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Peter A. DeFazio: bush-paulson plan. borrow $700 billion in the name e of the american taxpariyer, give paulsonso unrestrained,ai unprecedente d authority to buy anything he deems a troubled assetas from anyone at

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Peter A. DeFazio: any price. what if there'sat a credible low-cost, low-risk alternative? i heard such a plan again last night from the head banking regulator under the u reagan administration. use the emergen cy powers

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Peter A. DeFazio: of the p fdic. exte nd the same insurance given to with a chovea to theo depositors and creditors to all banks that. at would immediately free up interbank lending and credit. grante d it

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Peter A. DeFazio: doesn't solve the problem of the wall street speculators t does solve the problem of loans for business and main street. six years ago this month congress was w stampeded by this

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Peter A. DeFazio: president into ann unnecessary and unprecedented authorization a of force for war in iraq under the threat of weapons of mass destruction. do not repeatep that mistake by au thorizing george

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Joe Wilson: bushrg an unprecedented use of financial force under the threat of financial weapons of mass destruction. the speaker pro tempore: the gentleman yields back the balance of his time. for what purpose

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Speech By: Joe Wilson

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Joe Wilson: does the gentleman from south carolina ou rise? mr. wilson: madam speaker, i ask permission to address the house for one minute. revise and extend my remarks. the speaker pro tempore: without

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Dennis J. Kucinich: objection, the gentleman is recognized for one minute. mr. wilson: mad am speaker, today we vote on a piece of legislation that is an imperfect option and a terrible situation. at but i hope

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Dennis J. Kucinich: congress does not fail the american people by saying this bill has solved the whole problem because it is not. the bad lending practices, mishandling by f inancial firms, and failed oversight

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Virginia Foxx: by the federal government over decaderns are not a ddressed today. but we better step forward and address them as soon as possible. as a former real estate attorney for 25 years, i know firsthand

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Speech By: Virginia Foxx

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Virginia Foxx: to make bad loans because government will back themem up. our job is not done today.ay going forward co ngress has the obligation to face and fix tehe roots of this crisis, reducing govern ment

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Virginia Foxx: that making homeho loans to individuals lessiv than creditworthy can be b destructive for those individuals and for a this country. government should not be telling banks it is possibles for them

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Virginia Foxx: control.. in conclusion, god bless our troops. we will never forget september 11. god bless governor Sarah Palin for her service for america. the speaker pro tempore: the gentleman yields

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Virginia Foxx: back the balance of his time. for what purpose does the gentleman from ohio rise? mr. kucinich: good morning,h: madam speaker. i request permission to address the house, revise and extend. d

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Virginia Foxx: the speaker pro tempore: without objection, the gentleman from ohio is recognized f or one minute. e.mr. kucinich: we have come ah: great deal in 75 years.rs from a -- we have come a great

0:08:38 to 0:08:51( Edit History Discussion )

Frank Jr.Pallone: distance in 75 years, from the new deal to thede raw deal. from having nothing to fearhi but b fear it self to being b afraid of everything . we have traded democracy's warm heart containing

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Speech By: Frank Jr.Pallone

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Frank Jr.Pallone: the ideals oinf faith, fairness, and frugality. for the greedy coldd calculations of the dow jones ticker. the new deal saved free market capitalism with jobs and regulation, now both sink

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Frank Jr.Pallone: in the swamp of speculation,ti manipulation, and capitulation. the golden rule of do unto others as would you have them do unto you is submerged by the rule, do unto others before they do unto

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Frank Jr.Pallone: you. some people will ask congress what were we thinking? why give agi bailout without fixing the problem in the firstir place. wh y didn't we exploreor left wall street solve its own problems?

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Frank Jr.Pallone: i why can't we have money save millions of homeowners, why didn't we stop the speculators? why wasn't there bibbleet? why didn't we take time to makeo an intelligent decision? why? why? why?

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Rahm Emanuel: the speaker pro tempore: the gentleman's time has expired. for what purpose does the gentlewoman from north carolina rise? ms. foxx: permission to address the house for one minute, madam speaker.

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Speech By: Rahm Emanuel

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Rahm Emanuel: the speaker pro tempore: without objection, the gentlewoma n is recognized for ze one minute. ms. foxx: thank you, madam speaker. there's a s ong the day the music died. ie i don't t

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Rahm Emanuel: hink it is too much of a stretch to say this aymay be the day america died. i'm not alone in feeling that what the c ongress is about to do today is a very, very serious consequential thing

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Rahm Emanuel: for f this count ry. i want to quote fromro an article from investors business daily us today. and submit it for td he record, madam speaker. after years of faking it, the federal go vernment has

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Rahm Emanuel: finally hit bottom. depending how youde look at it ascended to its level of maximum destruc tive incompetence. through its power ofts education and communication, washington already influences

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Rahm Emanuel: the creation and dissemination of knowledge. once it takes over the financial industry, nothingy, will be left standing in theg way of the federal government's dominanc e. states and localities

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Stephen Cohen: are a mere administrative units andnd disbursing agents for washington. government has wongo its war against religion, sidelining churches . american cap italism is not just an economic theory, it's a

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Stephen Cohen: way of life. where rewards are based on achievement not identity ot r class. and is therefore inextricably boun d up withit the individual freedom and american exceptionalism. i yield back.

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Stephen Cohen: the speaker pro tempore: for what purpose does the gentleman from new jersey rise? mr. pallone: to address the house for one minute. the speaker pro tempore: without objection,wi the gentleman

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from new jersey is recognized for one minute. mr. pallone: thank you, madam speaker. today the house must act desistively and -- decisively and bipartisan fashion to begin the process of rescuing

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an economy that has been spiraling downward for some f time. without action we actre warned credit markets willit freeze up preventing families from getting cars and homein loans, and

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small business from being able to pay their employees orr purchase new products. over the last couple of days we have heard the traffic and automobile dealerships is down 50% in the last month because

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people c an't get theiret considered as read to the purchase a new car. rc we have heard about college ge students not being able to pay for their classes or books because they c an't get

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the loan l to attend school. madam speaker f. wesp don't act today credit marketots will freeze and main street will suffer. families living from paycheck ay to paycheck will seech their

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credit card limi ts slashed and nd interest rates increase.at this is something we simply can't allow to happen. i hope that we can come together in strong bipartisan fashion to pass this

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economic rescue package today. i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. for what purpose does the gentleman from illinois rise? >> to address

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the house for one minute. the speaker pro tempore: without objection, the gentleman is recognized for one minute. mr. ema nuel: in the past week we negotiated with the financial markets neededs

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and what the public market wanted. taxpayerta protections. this is only the first step. while we ailddress the balance b sheets of banks, the next step must now address the checkbooks ok for

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middl e class families and the struggles that they face. the middle class today is working harder, earning less, and paying more. in the last seven years median household income has dropped by

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$1,200 and costs for energy, health care, as well as college a educat ion has gone up $4,800. the middle class is hurting and squeezing. and the second economic program p must put their needs

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at the heart of what we do. because today is important to have universal access to savings. universal access to higher education. a middle class tax cut. . if you worifk, you have health care.

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and we must build an energy policy that makes this a hybrid economy. an agenda that puts the middle class at the part of its economic strategy unlike the last seven years will make sure what we are

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doing today is successful in the future because we must strengthen the economy while we save and deal with the fancial markets crisis on this short-term basis. i yield back the remainder of

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my time. the speaker pro tempore: the gentleman's time has expired. for what purpose does the gentleman from tennessee rise? mr. cohen: to address the house for one minute. the speaker pro tempore:

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without objection, the gentleman is recognized for one minute. mr. cohen: thank you, madam speaker. i am pleased today that the -- when the house considers the economic stabilization act it

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Louise McIntosh Slaughter: will contain an a fdicdi insurance raise. on the 22nd of september i filed a bill to increase thee fdic insurance to $200,000 to protect our independent depositors and our community banks.

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Speech By: Louise McIntosh Slaughter
Bill: H.R. 5140: Economic Stimulus Act of 2008

Slaughter says we should support the bailout

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Louise McIntosh Slaughter: this is a very difficult vote as it was on monday. because there's medicine that's bitter that you don't wantt to take but that you need. sir edmund burke a. great memb er of parliament inam

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Louise McIntosh Slaughter: britain says a legislator has the duty to his constituents to c listen to them but also vote what he believ es from what he learns is their best interest. a good legislator has to make that

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Louise McIntosh Slaughter: decision. years later another greatno british philosopher, mick jagger said, sometimes you get what you want and sometimes you get what you need. this time, madam speaker, we are going to do

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Louise McIntosh Slaughter: what the american economy needs. it's difficult butfi correct. i yield the remainder of my time. thank you, madam speaker. the speaker pro tempore: the gentleman yields back the balance of

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Louise McIntosh Slaughter: his time. for what purpose does the gentlewoman from new york rise? ms. slaughter: madam speaker, by direction of the committee on rules i call up house resolution 1525 andd ask for its immediate

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Louise McIntosh Slaughter: consideration. the speaker pro tempore: the clerk will report thek resoluon. the clerk: hou se calendar number 287, house resolution 1525, resolution providing for consider ation of

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Louise McIntosh Slaughter: the senate s amendments to the bill h.r. 1424 to amend sectionec 712 of the employee retirement income security act of 1974, section 2705 of the publi27c health serv ice act, section 9812

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Louise McIntosh Slaughter: of the internale revenue code of 1986 to require equity and provision of men otal health aeand substance related disorder benefits underfi group health plans, to prohibit discrimination

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Louise McIntosh Slaughter: on the basis oonf genetic information witc h respect to health insurance, ce and employment, and for olother purposes. resolved, that upon adoption of thisth resolution it shall in order to take

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Louise McIntosh Slaughter: from thero speak'sak table the bill h.r. 1424, to amend section 712 of the e employee retirement income security act of 1974, section 2705 of the public health service act, section 9812 of

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Louise McIntosh Slaughter: the int ernal revenue code of 1986 to require r equity in the provision of mental health and a substance related disorder benefits underts group health plans, to prohibit discrimination

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Louise McIntosh Slaughter: on the basis of geneticge information, for healthr insurance and employment and for other purposes with the senate a mendments thereto and to consider in the house without intervention of

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Louise McIntosh Slaughter: any point of order a single motion offered by the chairman of the committee on financialon services or his designee and the house concur in then senate amendments. en the senate amendment

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Louise McIntosh Slaughter: and ttehe motion sha ll be considered as read. . the motion shall be debatable le for 90 minutesfo with 60 m0inutes equally divided and controlled by the chairman and ranking nk minority

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Louise McIntosh Slaughter: member of the m committee on f inancial services and 30 minutes equally divided and controlled by the chairman and ranking minority meanmber of the committee on ways and means. the previous questions

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Louise McIntosh Slaughter: shall be considered as ordered on the motion to final adoption t without intervening motion orni demand for division of the question . section 2, duringn consideration of the motion to

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Louise McIntosh Slaughter: concur pursuant to the first sectione of this resolution, notwithstanding tnohe operation o of the previous t question, theue chair may postpone further consideration of such motion to such te as

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Louise McIntosh Slaughter: may be designated by the speaker.he . the speaker pro tempore: the gentlewoman from new york is recognized for one hour. ms. slaughter: thank. you, madam sp eaker. for purposes of debate

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Louise McIntosh Slaughter: only i yi eld the customary 30 minutes to to the gentleman from califorcania, mr. dreier. the speaker pro temporspe: without objection. ms. slaughter: i yie. ld myself such time as i may consume.

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Louise McIntosh Slaughter: i ask un animous consent that se all members may have five er legislative days to revise and extend their remarks on house resolution 1525. the eaker pro tempore: without objection, the on gentlewoman