House Proceeding on Oct 3rd, 2008 :: 0:15:29 to 0:22:44
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0:15:12 to 0:15:29( Edit History Discussion )

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

0:15:29 to 0:22:44( Edit History Discussion )
Speech By: Louise McIntosh Slaughter
Bill: H.R. 5140: Economic Stimulus Act of 2008

Slaughter says we should support the bailout

0:15:29 to 0:15:45( Edit History Discussion )

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.

0:15:45 to 0:15:56( Edit History Discussion )

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

0:15:56 to 0:16:06( Edit History Discussion )

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

0:16:06 to 0:16:17( Edit History Discussion )

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

0:16:17 to 0:16:31( Edit History Discussion )

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

0:16:31 to 0:16:45( Edit History Discussion )

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

0:16:45 to 0:16:54( Edit History Discussion )

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

0:16:54 to 0:17:06( Edit History Discussion )

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

0:17:06 to 0:17:14( Edit History Discussion )

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

0:17:14 to 0:17:26( Edit History Discussion )

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

0:17:26 to 0:17:38( Edit History Discussion )

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

0:17:38 to 0:17:51( Edit History Discussion )

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

0:17:51 to 0:18:03( Edit History Discussion )

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

0:18:03 to 0:18:21( Edit History Discussion )

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

0:18:21 to 0:18:34( Edit History Discussion )

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

0:18:34 to 0:18:50( Edit History Discussion )

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

0:18:50 to 0:19:12( Edit History Discussion )

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

0:19:12 to 0:19:23( Edit History Discussion )

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

0:19:23 to 0:19:36( Edit History Discussion )

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

0:19:36 to 0:19:56( Edit History Discussion )

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.

0:19:56 to 0:20:04( Edit History Discussion )

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

0:20:04 to 0:20:14( Edit History Discussion )

Louise McIntosh Slaughter: from new yleork is recognized. . ms. slaughter: madam speaker, h.res. 1525 provides for the consideration of the senate amendm ents to the bill h.r. 1424, the emergency economic stabilization

0:20:14 to 0:20:25( Edit History Discussion )

Louise McIntosh Slaughter: act of 2008.8. the rule will allow the house to concur in the senate amendments to this bill ands vote on the text of the bille that was adopted in the senate. madam sp eaker, today this body

0:20:25 to 0:20:34( Edit History Discussion )

meets unmeder dire circumstances as our g reat nation stands on the verge of a financial crisis much like the great depression. our unemployment rate is me soaring. many of our financial al

0:20:34 to 0:20:45( Edit History Discussion )

Louise McIntosh Slaughter: institutions, some of whutich were dee med too big to fail, have failed or close to o collapse. credit, even for the most credit worth y, is hard to cometo by. . our once robust and booming

0:20:45 to 0:20:57( Edit History Discussion )

Louise McIntosh Slaughter: economy is on the brink of disaster and that's why we have ve this bill before us today. like so many americans, i have absolute ly no interest in bail out any fat cat executives on ex wall street.

0:20:57 to 0:21:11( Edit History Discussion )

Louise McIntosh Slaughter: i stand firm in my belied f in solidarity with the american people when i say that y corporate greed should never be rewarded. ed but the crisis we're facing today is much bigger thaisn the

0:21:11 to 0:21:23( Edit History Discussion )

Louise McIntosh Slaughter: corporate greed. it's bigger than wall street. it reaches beyond the wall street titans and direct tly into the lives of hard-working middle-class americans. our savings retirement, our college savings,

0:21:23 to 0:21:36( Edit History Discussion )

Louise McIntosh Slaughter: our investments for our future are all at risk if this bill fails. the financial thcrisis threatens te our ability to get a loan, even n, if we have outstanding credit. c the crisis threateisns

0:21:36 to 0:21:47( Edit History Discussion )

Louise McIntosh Slaughter: our jobs. madam speaker, withodaut decisive action, most experts believe th our economic situation mi will only grow worse. credit markets will freeze and fr main street and all of america will

0:21:47 to 0:21:58( Edit History Discussion )

Louise McIntosh Slaughter: suffer. s families living paycheck to paycheck will see their creildit card limits slashed and their as interest rat res increased. . families won't be able to take out basic home and carba loans

0:21:58 to 0:22:10( Edit History Discussion )

Louise McIntosh Slaughter: and employers may not be able to makeo their payrolls. take for example earlier thixas week when the body fai wled to pass a p revious version of this io rescue bill and the country watched

0:22:10 to 0:22:21( Edit History Discussion )

Louise McIntosh Slaughter: in horror waas the dow d jones plummeted more ts han 750 points. in that dive, that single day in the stock ma rket cost our r economy over $1 trillion. but when the stock market t crashed,

0:22:21 to 0:22:32( Edit History Discussion )

Louise McIntosh Slaughter: the majority of the $1 of trillion that was lost did not belong to wall street giants. it came fromfr pensions of people who have retired or people who pe have frugally worked forru their entire

0:22:32 to 0:22:44( Edit History Discussion )

Louise McIntosh Slaughter: lifetimes to sareve a few dollars for their family's future. it's for this reason that congress m ust intervene. e. the bill bef ore us is intended to rescue main street. by rescuing the

0:22:44 to 0:30:26( Edit History Discussion )
Speech By: David Dreier

0:22:44 to 0:22:57( Edit History Discussion )

David Dreier: financial institut ions we rescue the ue jobs, the sa vings and the e ability to get a loan for each hard-working american. however, mad am speaker, as we as go ahead with this bihell, we