Senate Proceeding on Mar 18th, 2009 :: 6:17:00 to 6:21:05
Total video length: 9 hours 34 minutes Stream Tools: Stream Overview | Edit Time

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

Views:168 Duration: 0:04:05 Discussion

Previous speech:

Next speech:

6:16:56 to 6:17:17( Edit History Discussion )

Bob Corker: and that is my colleague from tennessee, senat corker, i see is on the floor. mr. corker: mr. president? officer officer the senator from tennessee. mr. corker: i'd like to thank the minority leader for his comments and for said. and i'd lik to ask unanimous consent that the committee on banking, housing, and urban

6:17:00 to 6:21:05( Edit History Discussion )
Speech By: Bob Corker

6:17:18 to 6:17:38( Edit History Discussion )

Bob Corker: affairs be discharged from further consideration of senate 541, the dodd-crapo bill, that would increase the borrowing authority of the fdic. the senate proceed to its immediate consideration, the bill be read a third time and be passed, and the motion to reconsider be be laid upon the table.

6:17:39 to 6:17:59( Edit History Discussion )

Bob Corker: the presiding officer: is there an objection? mr. durbin: reserving the right to object -- the presiding officer: the senator from illinois. mr. durbin: mr. president, i'm going to unanimous consent request. and the reason is that the provision, which h referred to by senator mcconnell, the republican leader, relative to the bankruptcy code is one that is in negotiation at this very moment.

6:18:00 to 6:18:20( Edit History Discussion )

Bob Corker: when this measure was called before the senate last year, there were some who ominously predicted that we could be losing some 2 million homes to foreclosure in america. unfortunately, the most recent estimate, goldman sarks sacks, is that 13 -- goldman sachs, is that 13

6:18:21 to 6:18:41( Edit History Discussion )

Bob Corker: lost to foreclosure in the next five years. the effort is under way to revise the bankruptcy law to provide for authority in that court in specialized circumstances is one to foreclose -- or preve preclude these foreclosures from occurring. that is actively under consideration. it is -- that is included in the

6:18:42 to 6:19:02( Edit History Discussion )

Bob Corker: house bill that i will subsequently ask to be approved by unanimous and it's one supported by the chairman of the banking committee, senator dodd, as well as many others. so i would hate to see us lose an opportunity to deal with this looming foreclosure crisis by creeing to this unanimous co -- by agreeing to this unanimous consent request, and i object.

6:19:03 to 6:19:27( Edit History Discussion )

Bob Corker: the presiding officer: objection is heard. the senator from tenton. mr. corker: i'll go ahead let him continue. mr. durbin: i ask unan consent that the bank committee be discharged from further consideration of s. 541, the depositor protection act, the senate proceedo its immediate consideration, that an amendment at the desk which contains the provisions of the house-passed bill, h.r. 1106, be agreed to,

6:19:28 to 6:19:50( Edit History Discussion )

Bob Corker: the te an reconsider moshings, with no intervening action or debate. the presiding officer: is in an objection? mr. corker: mr. president, reserving the right -- the presiding officer: the senator from tennessee. mr. corker: i object to this, mr. president. as was just stated, we have a bipartisan solution that community banks all across this country are clamoring for, that

6:19:51 to 6:20:11( Edit History Discussion )

Bob Corker: the banking system is clamoring for. this bill that i just tried to call up would pass overwhelmingly in this body. now, the sator from illinois -- and i appreciate his persistence -- but has continued to pursue this cramdown bill, which meets with tremendous

6:20:12 to 6:20:32( Edit History Discussion )

Bob Corker: opposition in this body, and i just hate it that what we're doing is in essence extorting -- extorting community banks, extorting banks, credit unions all across this country to provisions that everyone knows are very, very problematic. so i object. i hope the senator from illinois

6:20:33 to 6:20:53( Edit History Discussion )

Bob Corker: will allow us at some point soon to take up this issue that is very, very important to credit unions, to community banks, to institutions all across this country. and, as a result, very important to the men and women all across this country that are concerned about their jobs, concerned about credit.

6:20:54 to 6:21:05( Edit History Discussion )

Bob Corker: this is something that we can do together to greatly change the atmosphere of the banking community and change our country in the process. but yet it appears that we're not going to have that opportunity taismed i hope the