Senate Proceeding on May 1st, 2009 :: 2:06:30 to 2:26:30
Total video length: 5 hours 9 minutes Stream Tools: Stream Overview | Edit Time

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

Download OptionsEmbed Video

Views:14 Duration: 0:20:00 Discussion

Previous speech:

Next speech:

1:59:45 to 2:06:30( Edit History Discussion )
Speech By: Sherrod Brown

2:15:04 to 2:15:24( Edit History Discussion )

quorum call: a sena the presiding office the senator from pennsylvania. mr. casey: thank you, mr. president. i would ask that the be vitiated. the presiding officer: without objection. mr. casey: mr. president, i rise today to speak about the casey-leahy-specter-gillibrand amendment to senate bill 896, the helping families save their

2:15:25 to 2:15:46( Edit History Discussion )

home act. last year congress include included $4 billion in the housing and economic recovery act of 2008 for the redevelopment of abandoned and foreclosed homes and properties, which was a crucial step toward helping neighborhoods and communities

2:15:47 to 2:16:08( Edit History Discussion )

recover from the devastating foreclosure crisis. in the american reinvestment recovery act, congress recognized the value of the neighborhood stablization program and the grants that go with that. they're known by shorthand n.s.p. grants. by providing another $2 billion this tim program.

2:16:09 to 2:16:31( Edit History Discussion )

when a program has that much support and is so widely recognized as doing good, we want to make sure that we give the beneficries of that program as much flexibility in using resources to help our constituents as we can. so that's what this is about, this amendment, really, to provide that kind of flexibility.

2:16:32 to 2:16:52( Edit History Discussion )

this is why my amendment allows grantees to use up to 10% of neighborhood sblization program fds for foreclosure prevention activities. and t by the secretary of housing and urban development. predatory lending and the subprimeortgage crisis created

2:16:53 to 2:17:13( Edit History Discussion )

a wave of foreclosures that has swept the country now since 2006. many communities, however, fear a second wave that will result from the severe loss of the economic downturn and the loss of value in homes. borrowers unable to make their monthly payments due to unemployment will not be able to refinance their homes because

2:17:14 to 2:17:35( Edit History Discussion )

they have plummeted in value as a result of the housing market meltdown. my amendment would offer more flexibility to grant east to use these funds for this purpose. i would urge my colleagues as we consider housing legislation this week and next week to be mindful that the foreclosure

2:17:36 to 2:17:57( Edit History Discussion )

cris is not over. foreclosure filings nationwide ballooned in from a year ago and in my home state of pennsylvania we've had a total of 4,943 foreclosure filings in just that one month of march.

2:17:58 to 2:18:19( Edit History Discussion )

the durbin amendment, voted on yesterday, which was unfortunately defeated, would have saved 1.7 million homes from foreclosure. if we will not give borrowers the tools they need to save thr homes, at least we can continue to provide resources to state and local governments,

2:18:20 to 2:18:40( Edit History Discussion )

community organizations, housing counselors and the thousands of attorns who volunteer their time and expertise to homeowners and families in need. i'll continue to fate -- fight for funding for housing counseling and legal services to help families. and i'm grateful to senator dodd and senator shelby for the

2:18:41 to 2:19:03( Edit History Discussion )

underlying believe is a step in right direction. thank you, mr. president. i yield the floor, and would note the absence of a the presiding officer: will call the roll.