House Proceeding 04-29-09 on Apr 29th, 2009 :: 3:42:10 to 3:45:15
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3:42:06 to 3:42:27( Edit History Discussion )

Michael E. Capuano: i know race is extremely uncomfortable for people to talk about, but i think it's important to keep it real. mr. capuano: it is uncomfortable for a lot of us and it certainly is real. and i totally agree with everything the gentlewoman just said. by the way, if it

3:42:10 to 3:45:15( Edit History Discussion )
Speech By: Michael E. Capuano

3:42:28 to 3:42:49( Edit History Discussion )

Michael E. Capuano: item, in reality, wouldn't everyone losing their house today be black? the answer is no. it's across all lines. it's across all lines. blacks are losing their houses, whites are losing their houses, hispanics losing their houses. why? we have all been victimized. freddie and fannie didn't do

3:42:50 to 3:43:10( Edit History Discussion )

Michael E. Capuano: anything everybody else was doing. they are not without blame, they we all have some degree of blame. ok. at the same time, what about thos time?

3:43:11 to 3:43:32( Edit History Discussion )

Michael E. Capuano: that subprime loans, during the entire time that subprime loans wer was controlled by republicans, the senate was controlled by republicans almost that entire time. particularly when they went through the roof, that's when they took over the white house. why? nobody sat down and said, let's do subprime loans.

3:43:33 to 3:43:53( Edit History Discussion )

Michael E. Capuano: what happened is we got an administration in the white house that said, we don't need let the market do whatever it wants. let humagreed go unregulated at all. there is nothing wrong with greed. we are all agreed l greedy.

3:43:54 to 3:44:16( Edit History Discussion )

Michael E. Capuano: we all want more. but unregulated greed, unlimited greed always leads to disaster, a we had an administration that believed the market could regulate itself, period. now the market can regulate itself to some degree, but when you say to the s.e. cremplet, do

3:44:17 to 3:44:38( Edit History Discussion )

Michael E. Capuano: nothing, look -- s.e.c., do nothing. sit on your hands when anybody comes up with new instrumentation or investment vehicles that are off the books, this is the result. congress has some blame. no question about it. personally, i should have screamed louder.

3:44:39 to 3:45:00( Edit History Discussion )

Michael E. Capuano: now we have the votes. those people with the votes should have done something. and i want to point to the chart behind the gentleman from colorado again, duri the time period when republicans had control, they did nothing, nothing.

3:45:01 to 3:45:15( Edit History Discussion )

Michael E. Capuano: since we took over, i'll go for the litany later because i'll yield to the the gentleman from minnesota. we have taken action, no question about it. the horse is out of the barn. you can ly do so much when that happened.