House Proceeding on Sep 28th, 2008 :: 0:00:00 to 0:20:00
Total video length: 22 minutes Stream Tools: Stream Overview | Edit Time

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

Views:3,518 Duration: 0:20:00 Discussion

Next speech:

0:00:00 to 0:00:03( Edit History Discussion )

Daniel Coughlin: coverage as soon as the gavel in. . [captioning made possible by ma the national captioning institute, inc., in cooperation with the united states house of se representatives. ta any e of the

0:00:00 to 0:02:02( Edit History Discussion )
Speech By: Daniel Coughlin

0:00:03 to 0:00:15( Edit History Discussion )

Daniel Coughlin: closed-cae ptioned coverage of the house proceedings for political or commercial purposes is ex pressly prohibited by the ib u.s. house of repru.esentatives.] the speaker: the house will be in

0:00:15 to 0:00:27( Edit History Discussion )

Daniel Coughlin: order. the prayer will be offered by y our chaplain. ai chaplain coughlin: we prai cse and thank you, lord god almighty. during the 110th congress10 of the united states s,, we have not always

0:00:27 to 0:00:43( Edit History Discussion )

Daniel Coughlin: realized your grace at ra work and given you sufficient fi praise amidst the problems and conflicts tha t have confronted us. but we arewe truly grateful for all those who have served this

0:00:43 to 0:00:57( Edit History Discussion )

Daniel Coughlin: great noble institution with theirth daily labor. often they are not noticed or even affir med by the public or even u s who see them and work with them every day. lo rd, bless all of themth.

0:00:57 to 0:01:16( Edit History Discussion )

Daniel Coughlin: from pages toag capitol police,it from clerks to cleaning crew, from parlimentarians to historians, fromor medical team to food service, from a.o.c. to c.a.o. and all the others no matter where

0:01:16 to 0:01:31( Edit History Discussion )

Daniel Coughlin: you place them in your alphabet. hear their prayers, protect them and their families. grant eternal rest to those whose have died during this congress. and strengthen all those who have

0:01:31 to 0:01:47( Edit History Discussion )

Daniel Coughlin: becomeom weak, sick or disheartened. ea be with those who areit in great need of your consolation or mercy. grant to all on capitol hill and the nation peace and joy both now and forever. a

0:01:47 to 0:02:02( Edit History Discussion )

Daniel Coughlin: amen. the speaker: the chair has examined the journal of the last day's proceedings and in announces to the houseun her approval thereof. pu rsuant to clause 1 of rule 1, the journal st ands

0:02:02 to 0:02:19( Edit History Discussion )

approved.d. thee pledge of allegiancee will be led by the gentlewoman from ohio, congresswoman kaptur. >> i am going to lead the pledge. i thank the gentlewoman from ohio for me and my four helpers

0:02:19 to 0:02:36( Edit History Discussion )

Peter A. DeFazio: for saying the pledge. t i pledge allegiance to the flag e of the united statofes of america and to the republic for whic li it stands, one natition under god, indivisible, with liberty

0:02:19 to 0:04:31( Edit History Discussion )
Speech By: Peter A. DeFazio

0:02:36 to 0:02:51( Edit History Discussion )

Peter A. DeFazio: and justice for all. the speaker: the chair will entertain up to 10 requests for one-minute speeches on each side of the aisle. for what purpose does th gentleman from oregon rise? mr. defazio:

0:02:51 to 0:03:08( Edit History Discussion )

Peter A. DeFazio: to address the house for one minute, madam speaker. the speaker: without objection. mr. defazio: i fear tomorrow that the house of representatives, trehe people's house, will be rushed into

0:03:08 to 0:03:21( Edit History Discussion )

Peter A. DeFazio: making a riskyma $700 billion taxpayer financed bet on wall street,st a big bet built on a shaky foundation. bush's treasury secretary, henry paulson, who served as chairch of goldman sanachs

0:03:21 to 0:03:33( Edit History Discussion )

Peter A. DeFazio: is the only one who has a plan to disarm them. despite the best efforts of the democrats to change this plan, wh at we will vote on tomorrow at itsat core is still the paulson-bush plan. still

0:03:33 to 0:03:47( Edit History Discussion )

Peter A. DeFazio: based on his idea, taxpayers should borrow $700 billion and buy all of wall street's bad bets and all will be well. it's sort of a financial surge strategy. and like the surge in iraq,

0:03:47 to 0:04:00( Edit History Discussion )

Peter A. DeFazio: it might slow -- it might lookoo short term like it's wt'orking but it won't be w sustainable. and i fear itit will notl in any way resolve the underlyingin prob lems of weak economy and a

0:04:00 to 0:04:31( Edit History Discussion )

Peter A. DeFazio: deteriating housing market. in more likely, it will lower the value of the dollar andhe drive up interest rates and drive up the price of energy. the speaker pro tempore: the gentleman's

0:04:31 to 0:04:45( Edit History Discussion )

Ted Poe: time has expired. the gentleman from texas. mr. poe: i ask permission to n address the house for one minute. the speaker pro tempore: without objection. mr. poe: mr. speaker, they say it's going

0:04:31 to 0:05:53( Edit History Discussion )
Speech By: Ted Poe

0:04:45 to 0:05:00( Edit History Discussion )

Ted Poe: to be y2k all over again. remember january 1, 2000, that the worldwide computer systems ys would fail, that financial ia works and transactions will be lost and go hay wire, that t the world

0:05:00 to 0:05:14( Edit History Discussion )

Ted Poe: would be doom, gloom and dispair. this i s the same politics of p fear we're hearing from the financia l bullies on wall al street. they say that theeyy must be saved before the stock markets

0:05:14 to 0:05:27( Edit History Discussion )

Ted Poe: open tomorrow or thew finances will fall into an abyss. there are no public no congressional hearcoings, no witnesses before committees. this sunday, they, plan of financial salvation to

0:05:27 to 0:05:39( Edit History Discussion )

Ted Poe: save us all is being discussed by onlynl a few in the shadows of thiss great hall. h doesn't sound like a good wayd to run the business of congress . back room deals have always troubled

0:05:35 to 0:05:48( Edit History Discussion )

Ted Poe: hoax and a that's just the way it is. the speaker pro tempore: the gentleman's time has expired. the gentleman from ohio. mr. kucinich:

0:05:39 to 0:05:53( Edit History Discussion )

Ted Poe: me because they usuall y turn out to be bad t deals foral americans. the irresponsible ebllites in new york c ity that caused this financial mess should beassr the blame and the cost oros there

0:05:48 to 0:06:00( Edit History Discussion )

Dennis J. Kucinich: house and to revise and extend. the speaker pro tempore: without objection. mr. kucinich: the $700 billion bailout of wall street is driven by fear, not by fact. this is too much money in too short a time

0:05:50 to 0:07:18( Edit History Discussion )
Speech By: Dennis J. Kucinich

0:05:53 to 0:06:07( Edit History Discussion )

Dennis J. Kucinich: should be no deal. but i suspect the americans will be held ind financial hostage until they pay the ransom for wall street's salvation. sa and by the way, tbyhe y-2 scare was just a mythical

0:06:01 to 0:06:10( Edit History Discussion )

Dennis J. Kucinich: going to too few people while too many questions remain unanswered. why aren't we having hearings on the plan we just received? why aren't we questioning the underlying premise of the need

0:06:10 to 0:06:20( Edit History Discussion )

Dennis J. Kucinich: for a bailout with taxpayers' money? why have we not even considered alternatives other than to give $700 billion to wall street? why aren't we asking wall street to clean up their own mess?

0:06:22 to 0:06:33( Edit History Discussion )

Dennis J. Kucinich: Why aren't we passing new laws? Why aren't we putting up new regulatory structures to protect the investors? How do we value the $700 billion in toxic assets? Why aren't we directly helping home owners

0:07:18 to 0:07:32( Edit History Discussion )

Dennis J. Kucinich: homeowners with their debt burden? why aren't we reducening debts for main street instead of wall st reet? isn't it time for change in i our monetary system so we cane free ourselves by

0:07:18 to 0:08:29( Edit History Discussion )
Speech By: Joe Wilson

0:07:32 to 0:07:48( Edit History Discussion )

Joe Wilson: the federal reserve and the banks? is this thehi united states congress or goldman sachs? it's not smart to force taxp ayerto dance withce bear or -- bears or b follow closely behind the

0:07:48 to 0:08:03( Edit History Discussion )

Joe Wilson: bulls. the speaker pro tempore: the gentleman's time has expired. the gentleman from south carolina. mr. wilson: mr. speaker, i ask permission to address the house for one minute and to revise

0:08:03 to 0:08:16( Edit History Discussion )

Joe Wilson: and extend my remarks. the speaker pro tempore: without objectio n. mr. wilson: mr. speaker, while congress debates how treo address our economic crisis, i am grateful for those who are standing

0:08:16 to 0:08:29( Edit History Discussion )

Joe Wilson: up for conservative free market principles,le promoting limited government. surely we owe itre to the th american t axpayer to consider what capital and market confidence could be garnered

0:08:29 to 0:08:41( Edit History Discussion )

Marcy Kaptur: through private companies and investors befo re dipping our hand not wallets of everyday y american taxpayers. we need to look at options that will help wall street fixal its own problems

0:08:29 to 0:10:06( Edit History Discussion )
Speech By: Marcy Kaptur

0:08:41 to 0:08:54( Edit History Discussion )

Marcy Kaptur: so main street does not have to foot t the bill. we need targeted and sensiblebl oversight. it ensures that individual that bad judgment and mishandling do not destabilize the d entire economy.

0:08:54 to 0:09:08( Edit History Discussion )

Marcy Kaptur: om i want to thank my colleagues, minority leader john boehner, minority whip, john blunt, who played an integral role in free market solution. s i congratulate darrell issa. in conclusion,

0:09:08 to 0:09:26( Edit History Discussion )

Marcy Kaptur: god bless our troops and we will never forget september 11. the speaker pro tempore: the gentleman yields back the balance of his time. the gentlewoman from ohio. capelinhos i ask unanimous

0:09:26 to 0:09:38( Edit History Discussion )

Marcy Kaptur: consent to -- ms.. kaptur: i ask unanimous consent to address the house for one minute. the speaker pro tethmpore: without objection. ms. kaptur: my financial crimes have been committed.

0:09:38 to 0:09:52( Edit History Discussion )

Marcy Kaptur: now congress is being asked t io bail out the culprits, and to do so at the expense of those who elected us to guard their interests, t he people of our country. the normal legislative process ce

0:09:52 to 0:10:06( Edit History Discussion )

Marcy Kaptur: that should acc ompany review of a monumental m proposal to bail out w all street has beenas shelfed, yes, shelfed. only a few insiders f are doing the dealing.ea sounds like insider transding

0:10:06 to 0:10:19( Edit History Discussion )

Darrell E. Issa: to me. these criminals have so mulsch political power they can shut down the normal legislative process of the highest la w-making body in this land. all the committeeals that should

0:10:06 to 0:11:34( Edit History Discussion )
Speech By: Darrell E. Issa

0:10:19 to 0:10:53( Edit History Discussion )

Darrell E. Issa: ul be scanning every word that's being negotiated arein benched, ch and that means the m american people are benched b too. we a re constitutionally sworn to protect and defend this republic

0:10:53 to 0:11:06( Edit History Discussion )

Darrell E. Issa: against all enemies, foreign and domestic. om and my friends, there are enemies. we are toldd we will have $1 trillion to revietrw soon and have les s than 24 hours with no regular hearings tguo

0:11:06 to 0:11:21( Edit History Discussion )

Darrell E. Issa: try to vote on this tar baby. the people pushing this deal are the very same ones that t are responsible for theon implotion on wall street. they were fraudulethnt then and they are fraudulent

0:11:21 to 0:11:34( Edit History Discussion )

Darrell E. Issa: now. we should say no to this deal. i ask my colleagues to meet at 2:00 to meet with realal experts who have done real financialna resolutions. please join us, h.c.a. at 2:00 p.m. the speaker

0:11:34 to 0:11:47( Edit History Discussion )

Joe Baca: pro tempore: the gentlewoman's time has expired. for what purpose does the gentleman from california rise? mr. issa: i ask unanimous consent to address the house and to revise and extend. the speaker

0:11:34 to 0:12:50( Edit History Discussion )
Speech By: Joe Baca

0:11:47 to 0:11:58( Edit History Discussion )

Joe Baca: pro tempore: without objection. mr. issa: mr. speaker, the deal that is being presented to us p is not the best ndeal that can be had. i knowow this because of 20-pluspl years in business

0:11:58 to 0:12:20( Edit History Discussion )

Joe Baca: borrowing from banks. there is a bettee r deal. we're not getting it. as the gentlelady from ohio sa id, there are othreer advisors, including bill eyes action and others who are -- isaacs andac

0:12:20 to 0:12:33( Edit History Discussion )

Joe Baca: others who are tryingrs to he us.. certai nly no n liberal. the fact is we can bail out these entities without giving away. we can in fact loan them agai nst their substheantial assets,

0:12:33 to 0:12:50( Edit History Discussion )

Joe Baca: not simply buy the bad assetsse and take their good assets and walk off itsnto the sunset to do what they want to do, which in this case is unlikely, unlikely to be extend a home loan to

0:12:50 to 0:13:06( Edit History Discussion )

Virginia Foxx: someone who needs it or a o business loan to an innovator. i mr. speaker, i expect to vote against this bill.th from what i've seen of o it, not yet fully drafted, it does nots do

0:12:50 to 0:14:28( Edit History Discussion )
Speech By: Virginia Foxx

0:13:06 to 0:13:22( Edit History Discussion )

Virginia Foxx: what the american people areme asking to do, which is to protect their tax dollars. that's the fun damental thing we're supposed to do, that's what we are charged to do, that d is what we are

0:13:22 to 0:13:36( Edit History Discussion )

Virginia Foxx: being told not to w orry about because thiecs is anan emergency. if a drowning man asks you a for a lifeline you give him ae lifeline, but, you don't give them your boat and sail away.

0:13:36 to 0:13:47( Edit History Discussion )

Virginia Foxx: that's what we are being asked to do today. i yield back. the speaker pro tempore: the gentleman's time has expired. the gentleman from california. >> i ask unanimous consent to address the house

0:13:47 to 0:14:04( Edit History Discussion )

Virginia Foxx: for one minute. the speaker pro tempore: without objection.wi mr. baca: mr. speaker, the blood, sweat and tears of this nation's immigrants arere interwoven in the fabric which makes amer ica

0:14:04 to 0:14:16( Edit History Discussion )

Virginia Foxx: great. we are a nation f aounded with a constitution, a bill of rights, the ideas of families, equality, dignity and respect for life. immigrants contribute toan america. they pay taxes,

0:14:16 to 0:14:28( Edit History Discussion )

Virginia Foxx: worship in our churches, serve us proudly in our military. on e won a medal in wrestling. another made the ultimate sacrifice in uniform. rm immigrants throughout our history contribute to

0:14:28 to 0:14:44( Edit History Discussion )

Gary L. Ackerman: make our communities a lo t stronger. but anti-immigrant rhetoric continues to cloud theue picture. a compr ehensive immigration is the only way to solve the problems. pr and approach the respects

0:14:28 to 0:15:40( Edit History Discussion )
Speech By: Gary L. Ackerman

0:14:44 to 0:14:57( Edit History Discussion )

Gary L. Ackerman: of core americanme families of family , equality and human a rights. i challenge my c olleagues to look beyondlo anti-immigrant rhetoric and join me in a comprehensive reform. i yield back

0:14:57 to 0:15:11( Edit History Discussion )

Gary L. Ackerman: the balance of my time. the speaker pro tempore: the gentleman yields back the balance of his time. the gentlewoman from north carolina. ms. foxx: thank you, mr. speake r. permission tope

0:15:11 to 0:15:26( Edit History Discussion )

Gary L. Ackerman: address the house for one minute and to revise and extend my remarks. the speaker pro tempore:ea without objection. ms. foxx: thank you, mr. speaker. sp many people know the famous speech

0:15:26 to 0:15:40( Edit History Discussion )

Gary L. Ackerman: from henry v called, we few, we happy few, we band of brothers. so with apologies to william shakespeare, i belie ive there will be a banff patrioticri representatives today and ti tomorrow

0:15:40 to 0:15:55( Edit History Discussion )

Scott Garrett: who will resistl being led into making an egregious mistake for our nation. september 28 and september 29 will b e insignificantan days. we will remember. we fac e a challge to our country and

0:15:40 to 0:17:21( Edit History Discussion )
Speech By: Scott Garrett

0:15:55 to 0:16:12( Edit History Discussion )

Scott Garrett: our way of life. l i urge my colleagues not to be fooled by the vote.y we wil l not be a happy few if we are presented a plan p that takes $200 billion to $700 billion from our taxpayers

0:16:12 to 0:16:34( Edit History Discussion )

Scott Garrett: to try to solve a problem that is caused by other members of this body who do not w understand fundamentally what has made this country great. but we will be right. the very people in

0:16:34 to 0:16:50( Edit History Discussion )

Scott Garrett: both theot house and senate to help create e this problem , including the t chairman of thee respective committees in the house and senate, gave fannie mae and a freddie mac the authority to abuse

0:16:50 to 0:17:03( Edit History Discussion )

Scott Garrett: our systems and they are now crafting theft bailout. they blame others but hundreds of articles, which i will submit f or the record, i urge u my colleagues not to be swayed by this

0:17:03 to 0:17:21( Edit History Discussion )

Scott Garrett: song we got here, just simply go to youtube and put in burning down the house and you wil l get a better understanding of just how we got here and why we should not be going back to the very

0:17:21 to 0:17:33( Edit History Discussion )

Brad Sherman: same parties who bro ught us here this -- with this solution. the speaker pro tempore: the gentleman's time has expired. the gentleman from california. >> i ask consent to address the es house for one

0:17:21 to 0:19:32( Edit History Discussion )
Speech By: Brad Sherman

0:17:33 to 0:17:49( Edit History Discussion )

Brad Sherman: minute, revise and extend my remarks. the speaker pro tempore: without objection. >> the "new york times" reports that the administration has finally agreed to two of theth tiniest fig leaves designed

0:17:49 to 0:18:03( Edit History Discussion )

Brad Sherman: to help members vote for trshis bad bill. the first is that the bill will include a provision tovi require some future president tont propose a revenue bill to pay for the hundred of

0:18:03 to 0:18:16( Edit History Discussion )

Brad Sherman: billionhusf dollars we're going to lose. no w, how meaningless is there this? if a president likes and wants to give as you revenue bill, he'll do it withoutl a statutory s directive and

0:18:16 to 0:18:31( Edit History Discussion )

Brad Sherman: if he sends us a tax-racing bill with a note saying that he hate -- tax-raising bill with a note saying he hates it, such a proposal is dead on arrival. if this is what it means to say you've

0:18:31 to 0:18:47( Edit History Discussion )

Brad Sherman: paid for a bill, then will this same pay for definition apply when we are discussing bills, notsi giving money to wall street but future bills that will provide fator transportation a nd health

0:18:47 to 0:19:04( Edit History Discussion )

Brad Sherman: care and tax cut s to the middle class? cl the second fignd leaf is the l insurance division. they hate it, they won't use it and if they did use it, it would i send perhaps even more money

0:19:04 to 0:19:16( Edit History Discussion )

Brad Sherman: to wall street. this bill involves hundreds ofve billions of dolflars going tong bail out foreign o investors and million-itn- dollar-a-month salaries will continue to go to t wall street

0:19:16 to 0:19:32( Edit History Discussion )

Brad Sherman: executives. that's why 400 eminent economics e professors, including, three nobel lawyer yets have written to us to say, we ask w congress c not to rush, tuso hold appropriate hearings and toar

0:19:32 to 0:19:44( Edit History Discussion )

Michael C. Burgess: carefully considerhe right course of action. 40040 professors ofof economics, three nobel laureates say, do not panic, holdd hearings, let's write this bill b well. thank you. the speaker

0:19:32 to 0:21:12( Edit History Discussion )
Speech By: Michael C. Burgess

0:19:44 to 0:20:00( Edit History Discussion )

Michael C. Burgess: pro tempore: the gentleman's time has expired. the gentleman from texas. >> mr. speaker, i also come to c the floor today to talk about this $700 billil by -- bill --il billion bill that's

0:20:00 to 0:20:13( Edit History Discussion )

Michael C. Burgess: in front of us. we have seen no bill. we are here debating talking points of her happens youpe the -- perhaps the largest fundamental change inge our nation'urs financial system in its