House Proceeding 02-26-09 on Feb 26th, 2009 :: 0:34:45 to 0:37:10
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0:34:41 to 0:35:02( Edit History Discussion )

Brad Miller: responsibly in the fuhr. i urge my colleagues to vote against this bill and i yield back the balance of my time. the chair: the gentleman yields back the balance of his time. the gentleman from mic mr. conyers: mr. speaker, it gives me pleasure to yield the rema gentleman from north carolina, brad miller. the chair: the gentleman is recognized for two minutes. mr. miller: thank you, mr. speaker. it is remarkable after all that

0:34:45 to 0:37:10( Edit History Discussion )
Speech By: Brad Miller

0:35:03 to 0:35:24( Edit History Discussion )

Brad Miller: has happened in the american economy to still hear the talking points of the banking industry and the securities industry repeated verbatim without criticism simply parroted. the banking industry is really all about helping folks. that's what caused the problem. they were trying too hard to help people. they loaned perhaps not wisely

0:35:25 to 0:35:46( Edit History Discussion )

Brad Miller: but too well. the reality is this is not going to affect the availability of credit. we have plenty to judge that by. there have been rafts of economic studies about real economists and pier review journals that show when you -- peer review journals that show when you compare lending practices in one place and another at the same time with different laws there's very

0:35:47 to 0:36:07( Edit History Discussion )

Brad Miller: little if any difference. now, the -- the minority has tried to tap into the american anger at banks by thulling calling the reason that the banking industry is so opposed to this, this is thenly proposal to deal with the foreclosure problem that does not give them

0:36:08 to 0:36:28( Edit History Discussion )

Brad Miller: tax money. we aren't begging them, we aren't bribing them to do the right thing. we will make them do the right thing. they will modify mortgages in the way they should voluntarily, involuntarily in bankruptcy court if they don't do it voluntarily.

0:36:29 to 0:36:52( Edit History Discussion )

Brad Miller: mr. gohmert suggested this is somehow goingo be wild, arbitrary, the wild west, no one knows what a bankruptcy court will do, bankruptcy ju do. mr. speaker, there have been thousands of bankruptcy cases. the law is very clear. the procedures are very clear. the judges do this all the time. everyone involved in bankruptcy knows and it will be a very

0:36:53 to 0:37:11( Edit History Discussion )

Brad Miller: predictible, orderly, logical modification of mortgages in bankruptcy so that borrowers will come out with the very mortgage -- with the mortgage they should have gotten if they should have gotten a mortgage at all and the lend letter come out with a mortgage they should have made in the first place.