Text Timeline

Text Timeline
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00:00:09	Slaughter, Louise - U.S. Representative, [D] New York NEW YORK CHAIRS THE COMMITTEE. [INAUDIBLE CONVERSATIONS] THE RULES COMMITTEE WILL PLEASE COME TO ORDER. WE ARE HERE TODAY TO CONSIDER THE SENATE AMENDMENTS...
00:01:15	Frank, Barney - U.S. Representative, [D] Massachusetts DOWN ON MONDAY. I BELIEVE WHAT HAPPENED SUBSEQUENTLY OR THE NEGATIVE CONSEQUENCES MANY OF US HAD FEARED. I NOTED THE TREASURER
00:01:32	Slaughter, Louise - U.S. Representative, [D] New York OF
00:01:33	Frank, Barney - U.S. Representative, [D] Massachusetts CALIFORNIA ANNOUNCING HIS STATE IS RUNNING IN THE TROUBLE IN WHAT HAS ALWAYS BEEN A ROUTINE PROCEDURAL. THE TREASURE OF THE STATE, MR. MCGOVERN AND...
00:11:11	Slaughter, Louise - U.S. Representative, [D] New York TO ABOUT 10 OF THE MEMBERS OF THE HOUSE AND SENATE THAT
00:11:15	Bachus, Spencer - U.S. Representative, [R] Alabama AS CHAIRMAN FRANK SAID WE HAD AN ACT AND THAT THERE WAS NO ALTERNATIVE. I ASKED HIM IN THAT MEETING, ARE THERE NO ALTERNATIVES. IN HIS ANSWER WAS NO...
00:20:24	Slaughter, Louise - U.S. Representative, [D] New York OR TWO WEEKS AGO BUT I ALSO KNOW THAT IF YOU LOST YOUR ARM IN YOUR BLEEDING TO DEATH THAT THE FIRST THING YOU HAVE TWO DO IS STOP THE BLEEDING WITH A...
00:21:12	Frank, Barney - U.S. Representative, [D] Massachusetts COMING HEARINGS THAT WILL DETER A THINGS FROM GOING WRONG UNTIL WE CANNOT LEGISLATE THEM. I DO WANT TO RESPOND IF I COULD MADAM CHAIR A. THE PROPOSAL...
00:22:53	Frank, Barney - U.S. Representative, [D] Massachusetts TO DO. THE CHAIRMAN SAID AND I AGREE THAT ALL OF US IN THE HOUSE
00:23:00	Bachus, Spencer - U.S. Representative, [R] Alabama BELIEVE THAT WE SHOULD DO SOMETHING LESS THAN 700 BILLION. WE ALL AGREE. AND WE ARE TOLD THAT THE SENATE REPUBLICANS -- HEY, THEY DON'T VOTE IN THE...
00:23:59	Frank, Barney - U.S. Representative, [D] Massachusetts A THOUGHTFUL, AND. AND ONE OF MY COMMENTS WAS THAT WE DON'T NEED TO DO IT ALL, WE DON'T NEED TO DO WITH ALL. AND THE CHAIRMAN SAID
00:24:10	Bachus, Spencer - U.S. Representative, [R] Alabama THAT. >> WE ALL DIDN'T. >> IN THE SENATORS SAID THAT ON BOTH SIDES OF THE AISLE. AND ONE OF THE THINGS WE ASKED ONE OF THE MEETINGS WAS HOW MUCH CAN...
00:24:31	Slaughter, Louise - U.S. Representative, [D] New York MY OPINION, I WOULD
00:24:32	Bachus, Spencer - U.S. Representative, [R] Alabama RESPECTFULLY DISAGREE. AND WE ARE OF ADDRESSING IT FOR $700 BILLION BUT WE'RE GOING TO SEE WILL SEE HOW IT WORKS. THE TREASURY CAME BACK AND IT SECRETARY...
00:25:39	Frank, Barney - U.S. Representative, [D] Massachusetts WITHOUT BIPARTISAN AGREEMENT. >> I KNOW BUT OUR INTENT ALL IT WAS TO DO THE 250. >> WHEN I LOVE TO THE MEETINGS AND WAS PULLED OUT THE GENERAL AGREEMENT...
00:25:57	Frank, Barney - U.S. Representative, [D] Massachusetts THE DIFFERENCE IN THE POSITIVELY OR NEGATIVELY HAVING TO PASS
00:26:02	Slaughter, Louise - U.S. Representative, [D] New York A LAW. BUT THERE IS NONE OF THE MEMBERS OF THE HOUSE OR SENATE THAT DON'T KNOW THE SIGNIFICANCE
00:26:08	Bachus, Spencer - U.S. Representative, [R] Alabama OF THE DIFFERENCE BETWEEN WHAT MR. LATOURETTE AND SOME OF HIS DEMOCRATIC COLLEAGUES HAVE PROPOSED. I HAVE HEARD IT DEMOCRATIC MEMBERS, WHEN IT CAME BACK...
00:28:08	Slaughter, Louise - U.S. Representative, [D] New York CREDIT RATING OF THE UNITED STATES, I LIKE TO REPUDIATE THAT SUGGESTION. THE UNITED STATES ISN'T GOING TO DEFAULT UNKNOWN TO THINK THAT. WE'VE GOT THE...
00:28:26	Frank, Barney - U.S. Representative, [D] Massachusetts THE AMERICAN GOVERNMENT WAS WHEN TO DEFAULT ON ITS OBLIGATIONS. THAT WOULD BE WRONG IN DAMAGING. >> WHAT I WAS SAYING IS THAT OUR CREDIT RATING, THERE...
00:28:54	Bachus, Spencer - U.S. Representative, [R] Alabama DO THIS. >> NOT UNLIMITED. >> IS LIMITED BY OUR OWN COMPASSION AND DECISION FROM THE PEOPLE ARE NOT GOING TO, THE UNITED
00:29:02	Frank, Barney - U.S. Representative, [D] Massachusetts STATES GOVERNMENT IS NOT GOING TO DEFAULT AND I THINK IT IS A MISTAKE TO SUGGEST THAT. >> I DID NOT SUGGEST, I'M SORRY. >> BUT I WOULD SAY ALSO -- >>...
00:29:16	Bachus, Spencer - U.S. Representative, [R] Alabama
00:29:17	Frank, Barney - U.S. Representative, [D] Massachusetts TO CUT. AND THERE WILL BE CUT. NOW OF THIS PROGRAM IS WORKING IN A MEMBER, WE CAN AUTHORIZE THE ADDITIONAL AMOUNTS.
00:29:28	Bachus, Spencer - U.S. Representative, [R] Alabama IT IS WORKING AND WE FEEL LIKE IT IS
00:29:31	Frank, Barney - U.S. Representative, [D] Massachusetts A BETTER WORKING
00:29:33	Bachus, Spencer - U.S. Representative, [R] Alabama THEN SOMETHING ELSE. >> LET ME RESPOND, HERE IS ANOTHER MISTAKE. YES, IT WILL COST MONEY, IT WILL COST ANYTHING LIKE 700 BILLION OR 250, WE ARE BUYING...
00:29:56	Frank, Barney - U.S. Representative, [D] Massachusetts AGAIN NOT A TOUGH DECISION. AS TO HOLDING IT IS UNSUPPORTIVE OF THE SENATE WERE WILLING TO DO THIS NOW BE FINE BUT AGAIN MANY OF US MADE THAT ARGUMENT...
00:31:20	Slaughter, Louise - U.S. Representative, [D] New York CAN APPROPRIATE ALL THE MONEY THEY CAN SPEND THE NEXT FOUR MONTHS. AND WE CAN THEN CONSIDER ALTERNATIVES. IT YOU KNOW,
00:31:33	Bachus, Spencer - U.S. Representative, [R] Alabama WE HAVE ALL HEARD -- I THINK EVERYONE IN THIS ROOM AGREES THAT WE WOULD HAVE RATHER THAN A 250 BILLION. AND I WILL CLOSE WITH THIS, YOU'LL NEVER CONVINCE...
00:32:41	Frank, Barney - U.S. Representative, [D] Massachusetts THERE ON REGULATING, THAT IS WHY THESE HEARINGS ARE IMPORTANT. WE HAVE TO HAVE SOME POPPLE HEARINGS AND UNDERSTANDING
00:32:50	Slaughter, Louise - U.S. Representative, [D] New York WHAT ALL THIS IS. >> ABSOLUTELY CANNOT TIE OUR HANDS. >> THAT IS WHAT WE WANT TO DO AT THE BEGINNING OF THE NEXT TERM IS TO HAVE THE LEGISLATION READY...
00:33:14	Bachus, Spencer - U.S. Representative, [R] Alabama OF THE MAJORITY OF
00:33:15	Slaughter, Louise - U.S. Representative, [D] New York US MAY DECIDE THAT WE COULD DO THIS A LITTLE BETTER. WITH THE THERE ARE SOME OTHER ALTERNATIVES ON THE TABLE WITH THAT SOME OF THIS MONEY SHOULD GO FOR...
00:33:33	Bachus, Spencer - U.S. Representative, [R] Alabama FINANCIAL INSTITUTIONS, THE COMMUNITY BANKS AND CREDIT UNIONS ARE GOING TO HAVE TO PAY ADDITIONAL MONEY POURED INSURANCE. I FELT LIKE WE AT LEAST SHOULD...
00:34:33	Slaughter, Louise - U.S. Representative, [D] New York LITTLE BIT FRUSTRATING SITTING HERE LISTENING
00:34:35	Bachus, Spencer - U.S. Representative, [R] Alabama TO THIS. I HAVE A BAD CASE OF WHIPLASHED BECAUSE I THOUGHT YOU VOTED
00:34:40	Slaughter, Louise - U.S. Representative, [D] New York FOR THE BILL MR. BAUCUS ON MONDAY AND HERE
00:34:45	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts WE ARE -- I DON'T LIKE THE THAT THE SENATE ADDED THINGS TO THE BILL, THE TAX CUTS THAT ARE PAID FOR. I WISH THEY DIDN'T DO THAT AND I DON'T WANT TO ADD...
00:36:29	Bachus, Spencer - U.S. Representative, [R] Alabama ON THE ECONOMY IF WE DELAY FOR 10 DAYS? >> WE COULD PASS THIS WITH THIS AMENDMENT -- >> AND I ARE THE AMERICAN WATCHING US IT WAS PREDICTED WE'RE GOING...
00:36:48	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts OVERWHELMINGLY YESTERDAY IN THE NEWS IS IN THE HOUSE WILL OF THIS IMPASSE. I SAW AN ARTICLE THAT WAS IN THAT THE HILLS SING IN THE WAREHOUSE BUILT UP
00:36:57	Bachus, Spencer - U.S. Representative, [R] Alabama SWITCHING TO YES. SO THE PSYCHOLOGY
00:36:59	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts OF ALL THIS IS THAT WE ARE ABOUT TO PASS THE SENATE, WE DON'T PASS THAT TO MARK -- WHERE IS THE CONFERENCE WE CAN DO ANYTHING? >> WELL, WE KNOW WE...
00:37:31	Bachus, Spencer - U.S. Representative, [R] Alabama ABSOLUTELY NO CHANCE THAT THEY ARE GOING TO VOTE THIS DOWN. I THINK IT WILL ACTUALLY, WE'RE STEPPING OUT INTO PORK BARREL PROJECTS AND WE ARE ADDING...
00:38:17	Frank, Barney - U.S. Representative, [D] Massachusetts TALKING ABOUT IT LEAST A WEEK'S DELAY IN THE SENATE AND IF THEY WERE TO MAKE A FURTHER CHANGE BECAUSE THEY MIGHT PUT BACK SOME OF THE STANDARDS AND...
00:38:58	Bachus, Spencer - U.S. Representative, [R] Alabama THINK WE LEAVE HERE DON'T DO ANYTHING THIS WEEK GOOD
00:39:03	Frank, Barney - U.S. Representative, [D] Massachusetts LUCK GOING HOME. I THINK PEOPLE
00:39:04	Bachus, Spencer - U.S. Representative, [R] Alabama ARE GETTING FED UP WITH WHAT IS PERCEIVED AS OUR INABILITY TO GET OUR ACT TOGETHER IN DO
00:39:11	Frank, Barney - U.S. Representative, [D] Massachusetts SOMETHING. >> CAN I JUST ADDED BY THE WAY SENATOR MCCAIN WHO IS IN A CAREER OF VERY CRITICAL PART OF WHAT
00:39:18	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts HE DESCRIBES AS PORK BARREL QUOTA FOR THIS BILL AND I THINK THAT'S AN INDICATION THAT THERE'S NOTHING TO BE ANY SLAM-DUNK TO UNDO MUCH OF WHAT THEY DID...
00:39:33	Frank, Barney - U.S. Representative, [D] Massachusetts FOR TWO OF THIS KIND OF TURMOIL. >> LET ME SAY THIS, WE ARE A DEMOCRACY. AND I BELIEVE THAT THE FORM OF 35 MEMBERS OF THIS BODY AND THE AMERICAN PEOPLE...
00:39:59	Bachus, Spencer - U.S. Representative, [R] Alabama DIFFERENT WAYS TO SOLVE THIS PROBLEM. >> I AM SAYING THIS, LISTEN. >> I WOULD SAY ALSO IF YOU CAN OPEN THIS UP I THINK THE DOOR CLOSURE PROHIBITION LANGUAGE...
00:40:15	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts TO MAKE, LET ME FINISH. I WOULD LIKE TO FINISH. BUT FRANKLY IF I HAD TO
00:40:23	Bachus, Spencer - U.S. Representative, [R] Alabama CHOOSE, REDUCING FORECLOSURES IS
00:40:25	Frank, Barney - U.S. Representative, [D] Massachusetts MORE IMPORTANT THAN FACING THE MONEY BECAUSE I THINK IN THE END AS A GUIDE TO MAKE A DIFFERENCE BECAUSE THE OLD AT THE SAME AMOUNT OF MONEY IN THE END...
00:41:16	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts EVERYONE DOES IT KNOWLEDGE THAT SOMETHING NEEDS TO BE
00:41:20	Bachus, Spencer - U.S. Representative, [R] Alabama DONE. THE PEOPLE WHOM I REPRESENT IN SOUTHERN CALIFORNIA ARE ENRAGED OVER
00:41:26	Frank, Barney - U.S. Representative, [D] Massachusetts THE PROSPECT OF A MILLION-DOLLAR MONTH
00:41:29	Dreier, David - U.S. Representative, [R] California THE SALARIES OVER THE PROSPECT OF A GOLDEN PARACHUTES BEING CONTINUED TO BE GRANTED TO THE PEOPLE WHO HAVE GOT US INTO THIS. I LOOK AT THE PANIC THAT...
00:43:30	Bachus, Spencer - U.S. Representative, [R] Alabama IS A LOT OF MISINFORMATION AND RUMOR OUT THERE. I REVIEWED ABOUT 18 E-MAIL'S EARLIER THIS MORNING AND MORE THAN HALF OF THEM CONTAINED THINGS, THEY WERE...
00:45:33	Frank, Barney - U.S. Representative, [D] Massachusetts ALSO ON WITH THE RANKING MEMBER SAID THE GOLDEN PARACHUTES WE DO HAVE LANGUAGE THAT RESTRICT THEM. PEOPLE SAY IT STILL GET A MILLION A MONTH, TRUE,...
00:47:24	Slaughter, Louise - U.S. Representative, [D] New York THE CHAIRMAN SAID, LET ME AGREE WITH HIM. I BELIEVE AS HE FEELS
00:47:30	Frank, Barney - U.S. Representative, [D] Massachusetts SO STRONGLY ABOUT SOME OF THESE THINGS, LET US APPROPRIATE, WE DON'T ALL BUT A
00:47:39	Bachus, Spencer - U.S. Representative, [R] Alabama GOOD MAJORITY I BELIEVE THINGS THAT SOMETHING OUGHT TO BE DONE AND THAT IS GOING TO BE THIS PROGRAM TO ON FREE ASSETS. I THINK THAT IS A GIVEN. THE...
00:48:42	Frank, Barney - U.S. Representative, [D] Massachusetts IS MUST APPLY CAN CHANGE IT MORE EASILY THAN WE OTHERWISE GOOD AND EVERYTHING ELSE ABOUT THIS PROGRAM WOULD BE INSIDE THE SAME. >> WHAT I HEAR IS IT...
00:49:09	Bachus, Spencer - U.S. Representative, [R] Alabama MOODY'S? >> NO, WE ARE DEALING WITH THAT AND OTHER LEGISLATION. THIS IS NOT DO A LOT
00:49:14	Frank, Barney - U.S. Representative, [D] Massachusetts OF THE REGULATION. WE HAVE FOR INSTANCE A BILL PASS AND OF COMMITTEE THAT WILL HAVE TO GET BACK TO NEXT YEAR. THAT TRIES TO CHOOSE THE
00:49:22	Hastings, Alcee L. - U.S. Representative, [D] Florida SYSTEM AND I THINK THIS WAS LARGELY SUPPORTED BY THE WAY, WE BELIEVE THAT MUNICIPALITIES ARE ISSUING CREDIT
00:49:31	Frank, Barney - U.S. Representative, [D] Massachusetts PAPER ARE BEING UNDULY PENALIZED. IRONICALLY EVER TOLD TO GET BONDED CURRENTS SO THE NOT INSURANCE AND THEN THEY TOOK THE PREMIUMS EVER GETTING FROM...
00:50:16	Hastings, Alcee L. - U.S. Representative, [D] Florida ARE FULLY AWARE OF THEIR ARGUMENTS. I WOULD ALSO LIKE TO SAY NOT SO MUCH IN DEFENSE OF THE SENATE FOR I THINK I HAVE BEEN AS HAVE ALL OF US AT DIFFERENT...
00:51:28	Bachus, Spencer - U.S. Representative, [R] Alabama CHAIRMAN FRANK SENT THAT I VERY MUCH AGREE WITH AND THINK THAT SINCE THE WORLD WAS WATCHING IT WAS APPROPRIATE TO SAY IN THE UNITED STATES WILL NOT DEFAULT...
00:51:40	Diaz-Balart, L. - U.S. Representative, [R] Florida ITS OBLIGATIONS. THE OBLIGATIONS OF THE UNITED STATES GOVERNMENT ARE BACK FOR THE FULL FAITH AND CREDIT. OF THE UNITED STATES AND THAT IS SOMETHING...
00:55:18	Frank, Barney - U.S. Representative, [D] Massachusetts IDEA, THE MARK TO MARKET IMPROVEMENT AND I AGREE THERE ARE IMPROVEMENTS IN FROM THE SEC. THERE ARE NOT IN THE LEGISLATION. >> MY POINT IS BY VIRTUE...
00:55:47	Diaz-Balart, L. - U.S. Representative, [R] Florida AND THAT IS IN ESSENCE WHAT WE DO
00:55:49	Frank, Barney - U.S. Representative, [D] Massachusetts EVERY SINGLE DAY IN DOING BUSINESS AND THAT IS WHAT
00:55:52	Diaz-Balart, L. - U.S. Representative, [R] Florida I HAVE BEEN TALKING ABOUT AS FAR AS MY NEIGHBORS IN SACRAMENTO IT IS THE GUY WHO INNOCENCE COULD MAKE PAYROLLS SO HE LET GO 20 PEOPLE. IN THE SENSE...
00:56:02	Matsui, Doris O. - U.S. Representative, [D] California THE CAR DEALERSHIPS ARE GOING ON IN BUSINESS BECAUSE PEOPLE CAN'T GET LONELY TO BUY CARS AND LET PEOPLE GO. AND MY FEELING IS THAT WE CAN KEEP PROVIDING...
00:58:32	Frank, Barney - U.S. Representative, [D] Massachusetts IS SOMETHING THAT WE
00:58:34	Bachus, Spencer - U.S. Representative, [R] Alabama ALL AGREE ON AND THAT IS THE TYPE OF AMENDMENT I BELIEVE WE OUGHT TO VOTE ON THE FLOOR. >> MR. HASTINGS. >> THANK YOU AT MADAM CHAIR LET ME DISCUSS SET...
00:59:04	Slaughter, Louise - U.S. Representative, [D] New York AMENDMENT I BELIEVE THAT MR. LATOURETTE
00:59:07	Hastings, Richard "Doc" - U.S. Representative, [R] Washington IS INTRODUCED OR MADE AVAILABLE TO US THIS AFTERNOON AND. I LOOKED AT IT BUT YOU HAVE TALKED AT LENGTH ABOUT THIS AND I SEE MR. LATOURETTE HERE AND...
01:00:18	Hastings, Richard "Doc" - U.S. Representative, [R] Washington THE PEOPLE'S HOUSE AND THEREFORE THIS IS IMPORTANT AS THIS ISSUE IS THAT OPPORTUNITY SHOULD BE AFFORDED ALL THE OTHER MEMBERS THAT DON'T HAVE THE OPPORTUNITY...
01:01:36	Slaughter, Louise - U.S. Representative, [D] New York THERE HAVE BEEN A NUMBER OF US HAD WANTED TO PAY FOR THE EXTENDER BILL, WE PASS THAT TO THIS HOUSE PRICE PAID FOR. THEY ADDED IT AND SOME OF IT AND
01:01:45	Cardoza, Dennis - U.S. Representative, [D] California PAID FOR. ALTHOUGH THE ENERGY PORTION WAS PAID FOR AND OTHER PORTIONS WERE NOT APPEAR IN. HAVING SAID THAT, I BELIEVE WHAT MR. FRANK SAID IS ABSOLUTELY...
01:05:51	Bachus, Spencer - U.S. Representative, [R] Alabama YEP. >> YOU CAN DO SOMETHING ABOUT THIS PORK BARREL
01:05:57	Bachus, Spencer - U.S. Representative, [R] Alabama PROJECT. >> I'M SORRY. >> THANK YOU, MADAM CHAIRMAN. >> I BEG YOUR PARDON. >>
01:06:11	Frank, Barney - U.S. Representative, [D] Massachusetts THE WORDS WE'VE HEARD TODAY
01:06:13	Bachus, Spencer - U.S. Representative, [R] Alabama HAVE SPOKEN ABOUT THE BILL. IT'S MY HOPE THAT THIS COMMITTEE WILL MAKE THAT AN ORDER. BECAUSE I BELIEVE IT SPEAKS TO A LOT OF RESERVATIONS THAT A ...
01:06:26	Slaughter, Louise - U.S. Representative, [D] New York WISH TO
01:06:28	Sessions, Peter "Pete" - U.S. Representative, [R] Texas VOTE FOR THE BILL, BUT BECAUSE
01:06:30	Slaughter, Louise - U.S. Representative, [D] New York OF SOME OF THE ACTIVITIES OF
01:06:32	Sessions, Peter "Pete" - U.S. Representative, [R] Texas THE SENATE THEY MAY NOT BE ABLE TO DO. I HOPE THE RULES COMMITTEE WILL MAKE THE BILL AN ORDER. I JUST HAVE ONE SIMPLE QUESTION. THAT IS, IF YOU LOOK...
01:07:26	Frank, Barney - U.S. Representative, [D] Massachusetts BEING -- DRYING UP. AND IF YOU LOOK AT THE RATE, I THINK IT'S AT HISTORIC HIGHS. THERE'S NO ONE INDICATOR. THE ANECDOTE -- >> THOSE ARE OVERNIGHT LENDING...
01:08:07	Bachus, Spencer - U.S. Representative, [R] Alabama FROM ANOTHER BANK AND HAS TO PAY A HIGH INTEREST RATE, THAT'S
01:08:10	Sessions, Peter "Pete" - U.S. Representative, [R] Texas THE STARTING POINT FOR WHAT IT CHARGES THE BUSINESS PERSON OR THE CONSUMER. BECAUSE THEY HAVE TO PAY WHAT THEY PAID THE OTHER BANK, PLUS THEIR -- THEIR...
01:08:21	Frank, Barney - U.S. Representative, [D] Massachusetts THAT ARE IN THE MARKETPLACE. >> YEAH. >> THAT REAFFIRM WHAT
01:08:24	Sessions, Peter "Pete" - U.S. Representative, [R] Texas WE'RE TALKING ABOUT? >>
01:08:25	Frank, Barney - U.S. Representative, [D] Massachusetts YES, SIR. >> OKAY. >>> MR. WELSH? >> I WANT TO THANK YOU BOTH OF
01:08:41	Sessions, Peter "Pete" - U.S. Representative, [R] Texas
01:08:42	Frank, Barney - U.S. Representative, [D] Massachusetts YOU. I AGREE
01:08:44	Sessions, Peter "Pete" - U.S. Representative, [R] Texas WITH --
01:08:45	Sessions, Peter "Pete" - U.S. Representative, [R] Texas WE'VE GOT TO --
01:08:50	Slaughter, Louise - U.S. Representative, [D] New York
01:08:51	Welch, Peter - U.S. Representative, [D] Vermont ON THE TABLE. IF IT GETS THE CHECK THERE, IT GETS PASSED -- GET TO MOVE ON. I'D LOVE TO HAVE THE BANKRUPTCY PROVISION. NO ONE'S WANTED THAT MORE THAN...
01:09:29	Unidentified Speaker, - DISCUSSIONS WITH -- WITH THE SENATE, ALMOST TO THE PERSON, EVERY SENATOR IN THAT ROOM AND EVERY HOUSE MEMBER IN THAT
01:09:38	Welch, Peter - U.S. Representative, [D] Vermont ROOM SAID THIS WAS
01:09:39	Bachus, Spencer - U.S. Representative, [R] Alabama WHAT OUGHT TO BE DONE. >> UNTIL TREASURY -- CAN I JUST SAY THIS? UNTIL TREASURY SAID TO THE COUNTRY AND THEN THE SENATE VOTED AND SAID NO IT'S IN ...
01:10:01	Frank, Barney - U.S. Representative, [D] Massachusetts DEMOCRATIC -- I MEAN SENATE -- >> THE SENATE'S ALREADY TOLD US THIS. >> WELL, I WOULD LIKE THEM PUBLICLY TO COME OUT, EVERY MEMBER OF THE LEADERSHIP...
01:10:18	Bachus, Spencer - U.S. Representative, [R] Alabama DELEGATION. >> IT WOULD TAKE AN HOUR FOR THEM TO DO THAT. >> IF WE SEND A DELEGATION IT'S GOING TO TAKE A DAY TO GET VISAS TO GO
01:10:25	Frank, Barney - U.S. Representative, [D] Massachusetts
01:10:27	Bachus, Spencer - U.S. Representative, [R] Alabama OVER THERE. >> I THINK -- >> I RECOMMEND YOU ASK THEM. >> IT'S NOT
01:10:38	Frank, Barney - U.S. Representative, [D] Massachusetts AN UNREASONABLE
01:10:39	Bachus, Spencer - U.S. Representative, [R] Alabama QUESTION. >> I DON'T UNDERSTAND THE LOGIC.
01:10:42	Frank, Barney - U.S. Representative, [D] Massachusetts IF WE ALL AGREE ON THIS, WHY DON'T WE SAY IF WE DO SOMETHING WE ALL AGREE ON WE'RE ALL GOING TO -- >> LET ME
01:10:50	Bachus, Spencer - U.S. Representative, [R] Alabama RESPOND. >> ON ONE OCCASION YOU SAY YOU THINK THIS OUGHT TO GO THROUGH TOMORROW AS I
01:10:54	Frank, Barney - U.S. Representative, [D] Massachusetts
01:10:58	Welch, Peter - U.S. Representative, [D] Vermont DO. I MEAN, I'M GOING TO VOTE ON IT TOMORROW. I FOUND IT INCREDIBLY HARD ON
01:11:01	Bachus, Spencer - U.S. Representative, [R] Alabama MONDAY TO VOTE FOR THIS. BECAUSE IT WAS NOT WHAT I WOULD HAVE PROPOSED. BUT, AT THE SAME TIME,
01:11:10	Frank, Barney - U.S. Representative, [D] Massachusetts IT ADDRESSED ONE
01:11:11	Bachus, Spencer - U.S. Representative, [R] Alabama OF THE PROBLEMS WITH THE ECONOMY. IT DIDN'T ADDRESS OTHER. BUT IT DID ADDRESS ONE. IT'S MORE RISKY THAN WHAT I WOULD HAVE PROPOSED, WHICH IS COVERED...
01:12:49	Frank, Barney - U.S. Representative, [D] Massachusetts QUICKLY. >> THERE'S A LOT OF THINGS EVERYBODY WOULD LIKE IN THE BILL. I THINK IT'S IMPORTANT TO GET IT ON THE FLOOR AND HAVE CONGRESS VOTE. >> 75 PEOPLE...
01:13:13	Welch, Peter - U.S. Representative, [D] Vermont A FIVE, SIX, SEVEN MINUTES. WE'LL KEEP YOU POSTED ON THAT. >> ARE YOU COMFORTABLE WITH
01:13:30	Slaughter, Louise - U.S. Representative, [D] New York THE THREE PROVISIONS? >> YES. THAT PROBABLY WOULD BE THE BEST PART OF THE BILL. REMEMBER, WHEN THE BILL CAME UP, THERE WAS NO INTENTION TO BUY EQUITY....
01:13:51	Arcuri, Michael - U.S. Representative, [D] New York SHAREHOLDER, BUT A WARRANT SO THAT IN ADDITION,
01:13:55	Frank, Barney - U.S. Representative, [D] Massachusetts IF THERE WAS PROFITABILITY, SHARE IN THAT. WE ALSO WON ONE VERY BIG FIGHT WITH THE ADMINISTRATION. THE SECRETARY REFUSED INITIALLY TO AGREE THAT THERE...
01:15:00	Bachus, Spencer - U.S. Representative, [R] Alabama AMOUNT OF PROTECTION THAT THE TAXPAYER WILL RECOUP -- WILL RECOUP VALUE IF -- IF THE CORPORATIONS REMAIN -- >> THERE ARE THINGS I'M NOT CONFIDENT ABOUT...
01:15:36	Bachus, Spencer - U.S. Representative, [R] Alabama MY POINT IS THIS. IF WE'RE REASONABLY COMFORTABLE THAT TAXPAYERS ARE PROTECTED, I'M AFRAID IT WOULD BE IRRESPONSIBLE FOR US NOT TO ACT AND NOT TO...
01:15:58	Arcuri, Michael - U.S. Representative, [D] New York HE OBVIOUSLY CAN SET THE LEVEL. BUT THE AMOUNT OF THE WARRANT AS THE CHAIRWOMAN SAID, EVERY SINGLE TRANSACTION THAT THIS IS -- THAT'S DONE
01:16:07	Bachus, Spencer - U.S. Representative, [R] Alabama UNDER HERE IS IMMEDIATELY MADE PUBLIC. IT'S PUT ON THE INTERNET. AND IT'S
01:16:13	Frank, Barney - U.S. Representative, [D] Massachusetts REPORTED TO THE OVERSIGHT BOARD. SO IF THERE'S AN INSUFFICIENCY, THE WARRANTS WILL KNOW THAT PRETTY QUICKLY. >> I AGREE WITH YOU. THIS WILL BE MUCH...
01:16:39	Arcuri, Michael - U.S. Representative, [D] New York STORIES. I'M SURE EVERYONE HAS IN THEIR OWN DISTRICT. >> THANK YOU, HADMADAM CHAIR. I DO WANT TO TALK A LITTLE BIT ABOUT WHAT THE SENATE ADDED. I HAVE...
01:17:06	Sutton, Betty - U.S. Representative, [D] Ohio YOU DID NOT REFER TO THAT AS PORK BARREL SPENDING. AND I THINK YOU ALSO AGREED WITH MR. HASTINGS OF FLORIDA THAT THE A AMT TAX IS NOT PORK BARREL SPENDING,...
01:17:47	Bachus, Spencer - U.S. Representative, [R] Alabama MIDWEST DISASTER TAX
01:17:48	Sutton, Betty - U.S. Representative, [D] Ohio RELIEF, DO YOU CONSIDER THAT PORK BARREL SPENDING. >> THE WHAT? >> MIDWEST DISASTER TAX RELIEF THAT'S IN THE BILL. >> LET ME SAY THIS. I THINK, YOU...
01:18:11	Bachus, Spencer - U.S. Representative, [R] Alabama ONES. IT'S IN
01:18:13	Sutton, Betty - U.S. Representative, [D] Ohio THE AMENDMENT. HE CAN GO
01:18:15	Bachus, Spencer - U.S. Representative, [R] Alabama OVER EVERY ONE OF THOSE AND HE CAN ANSWER THE QUESTION AS TO WHETHER OR NOT IT'S IN OR YOU CAN ANSWER IT. IS THAT -- IS THAT -- >> I CAN ASK IT ANOTHER...
01:18:42	Sutton, Betty - U.S. Representative, [D] Ohio I THINKS THE IMPORTANT, BECAUSE WE KEEP
01:18:45	Bachus, Spencer - U.S. Representative, [R] Alabama HEARING PORK BARREL SPENDING AND WE ARE ALL OPPOSED
01:18:47	Sutton, Betty - U.S. Representative, [D] Ohio TO THOSE THINGS OUTLANDISH
01:18:49	Bachus, Spencer - U.S. Representative, [R] Alabama IN THE BILL. THERE ARE MANY OTHER THINGS. I'D LIKE TO MAKE SURE THE AMERICAN
01:18:52	Frank, Barney - U.S. Representative, [D] Massachusetts PEOPLE KNOW THEY'RE IN THERE BECAUSE THEY'RE AIMED DIRECTLY AT HELPING PEOPLE WHO ARE NOT ON WALL STREET, BUT WHO ARE ON MAIN STREET. THE AMT PATCH,...
01:19:01	Sutton, Betty - U.S. Representative, [D] Ohio CREDIT, MENTAL HEALTH CHARITY, QUALIFIED TUITION DEDUCTION, SMALL BUSINESS RND TAX CREDIT, RENEWABLE ENERGY PRODUCTION TAX CREDITS, CLEAN RENEWABLE...
01:20:07	Bachus, Spencer - U.S. Representative, [R] Alabama BY THOSE AS WELL. BUT I THINK IT'S IMPORTANT THAT WE ALSO NOTE THESE OTHER THINGS THAT ARE NOT. >> OH, ABSOLUTELY. >> SOME OF THEM ARE STILL PAID FOR....
01:20:21	Sutton, Betty - U.S. Representative, [D] Ohio FOR MAKING
01:20:22	Bachus, Spencer - U.S. Representative, [R] Alabama SIGNIFICANT IMPROVEMENTS TO THE
01:20:26	Sutton, Betty - U.S. Representative, [D] Ohio ENTIRE BILL. AND I'M NOT CHALLENGING THAT. WHAT I AM SAYING IS THAT TO
01:20:33	Bachus, Spencer - U.S. Representative, [R] Alabama APPROVE THE FULL $700
01:20:34	Sutton, Betty - U.S. Representative, [D] Ohio BILLION WHEN WE DON'T KNOW HOW -- YOU
01:20:37	Bachus, Spencer - U.S. Representative, [R] Alabama KNOW, WHEN WE HAVE AN OPPORTUNITY TO SEE IT WORK AND A MONTH FROM NOW OR TWO MONTHS FROM NOW AND SEE IF -- IF WE AGREE WITH HOW IT'S WORKING. YOU KNOW,...
01:22:08	Slaughter, Louise - U.S. Representative, [D] New York A HURRY, COME BACK UP. THE DEMOCRATIC CAUCUS DOES START RIGHT AFTER THESE VOTES. I EXPECT EVERYBODY TO COME BACK HERE. THANK YOU. , WE'RE NOT THERE...
01:23:15	Slaughter, Louise - U.S. Representative, [D] New York THAT, EXTREMELY IMPORTANT. AND FOR THE STATE OF IOWA, ONE KEY COMPONENT OF WHAT THEY DID WAS TO DIRECT TAX RELIEF TO INDIVIDUALS THAT WERE DEVASTATED...
01:24:39	Unidentified Speaker, - HEARD A LOT OF QUESTIONS, I INTENTIONALLY AS A REPUBLICAN, I COULD HAVE GONE AFTER THE RENEWABLE TAX CREDITS AND THE GREEN STUFF THAT SOME REPUBLICANS...
01:24:58	LaTourette, Steven C. - U.S. Representative, [R] Ohio FILM INDUSTRY. AND THERE'S ONE MORE THAT'S MISSING IN MY MIND. >> THAT WAS MINE. >> THAT WAS YOURS. I DIDN'T TARGET YOU. >> I'M TRYING TO SAY --...
01:25:22	Slaughter, Louise - U.S. Representative, [D] New York HADI HOPE THAT
01:25:23	LaTourette, Steven C. - U.S. Representative, [R] Ohio DOESN'T DO MY AMENDMENT TO
01:25:27	Slaughter, Louise - U.S. Representative, [D] New York FAILURE. I THINK MY POINT ON THOSE, WHEREAS AS A REPUBLICAN I'M GLAD THE TAX EXTENDERS ARE IN THERE. I'M GLAD THE FDIC IS IN THERE. I'M GLAD THE SEC...
01:25:44	LaTourette, Steven C. - U.S. Representative, [R] Ohio SOME ADJUSTMENTS. THEY HAVEN'T DONE WHAT WE NEED TO DO WITH MARK TO MARKET. THE POINT OF THE AMENDMENT IS, I DON'T HAVE A LOT OF TRUST. WHEN I HEAR...
01:26:49	Slaughter, Louise - U.S. Representative, [D] New York A LITTLE -- A LITTLE
01:26:50	LaTourette, Steven C. - U.S. Representative, [R] Ohio UNEASY AND A LITTLE -- AND A LITTLE SQUEAMISH. THE SECOND THING, I KNOW THE SECOND UNANIMOUS CONSENT WOULD BE TO INTRODUCE A DOCUMENT AGAIN DATED SEPTEMBER...
01:29:26	Slaughter, Louise - U.S. Representative, [D] New York AND THEN IF
01:29:28	Latham, Thomas "Tom" - U.S. Representative, [R] Iowa WE BELIEVE IN A MONTH, WHENEVER WE COME BACK HERE, THAT HE HAS DONE A GOOD JOB AND THAT IT IS DESERVED AND THAT THIS IS WORKING, THEN WE GO AHEAD...
01:30:44	Slaughter, Louise - U.S. Representative, [D] New York MATTER IS THAT IT MAKES
01:30:45	Latham, Thomas "Tom" - U.S. Representative, [R] Iowa IT VERY, VERY DIFFICULT BECAUSE MY CONSTITUENTS LOOK AT THE $700 BILLION.
01:30:51	Slaughter, Louise - U.S. Representative, [D] New York AND WE HAVE HAD TO
01:30:52	Latham, Thomas "Tom" - U.S. Representative, [R] Iowa WAIT 3 1/2 MONTHS TO FINALLY GET MONEY TO ADDRESS THE FLOODS IN THE MIDWEST, IN IOWA AND THROUGHOUT THE MIDWEST. THAT WE'RE NOT ALLOWED A VOTE BEFORE...
01:32:08	Slaughter, Louise - U.S. Representative, [D] New York IDEA TO GIVE HIM $250 BILLION TO START WITH. AND 40 REPUBLICAN SENATORS IN THE SENATE REFUSED TO VOTE FOR THIS BILL BETHAT IN IT. HAVE YOU TALKED TO...
01:32:54	LaTourette, Steven C. - U.S. Representative, [R] Ohio LIKE MR. BACKES SUGGESTED. WE DISCUSSED THIS WITH MR. McCONNELL AND MR. REID AND MR. SCHUMER AND THEY SAID WE'RE TOO FAR ALONG IN THE PROCESS TO THINK...
01:33:10	Slaughter, Louise - U.S. Representative, [D] New York IS IT. >> IT WAS A GREAT IDEA. >>
01:33:12	LaTourette, Steven C. - U.S. Representative, [R] Ohio IT'S STILL A GREAT IDEA. >> IF WE COULD PASS THAT ON MONDAY, THE SENATE WOULD HAVE TAKEN IT. BUT THAT TRAIN HAS LEFT THE STATION. I'M CONCERNED THAT...
01:33:31	Latham, Thomas "Tom" - U.S. Representative, [R] Iowa INTO A TAILSPIN WAS HAVING A VOTE
01:33:33	LaTourette, Steven C. - U.S. Representative, [R] Ohio THAT LOST. AND
01:33:34	Slaughter, Louise - U.S. Representative, [D] New York WE'RE IN THE VOTE-COUNTING BUSINESS IN THIS PLACE. ANYBODY THAT TOOK THAT BILL TO THE FLOOR WITHOUT HAVING A PASS KNOWING THAT YOU WERE GOING TO SUPPLY...
01:33:42	LaTourette, Steven C. - U.S. Representative, [R] Ohio VOTES AND WE WERE GOING TO SUPPLY A CERTAIN NUMBER OF VOTES, SHAMP ON US. THAT SENT THE WRONG SIGNAL. IT WOULDN'T HAVE SENT ANY SIGNAL IF HEWE WOULD...
01:34:16	Slaughter, Louise - U.S. Representative, [D] New York WE'RE GOING TO GO WITH THIS. >>
01:34:18	LaTourette, Steven C. - U.S. Representative, [R] Ohio I CAN TELL YOU YOU CAN HAVE 180 IF YOU MAKE THIS AMENDMENT. >> DOES ANYBODY ELSE HAVE QUESTIONS OF THIS PANEL? >>
01:34:30	Slaughter, Louise - U.S. Representative, [D] New York I DO. THANK YOU, MADAM CHAIR. EARLIER ON, I TALKED THAT WE ARE A -- YOU BOTH HAVE
01:34:39	LaTourette, Steven C. - U.S. Representative, [R] Ohio TALKED ELOQUENTLY ABOUT WHAT'S IN YOUR AMENDMENT. BUT YOU'RE NOT ASKING THE RULES COMMITTEE TO DEVELOP A RULE
01:34:46	Slaughter, Louise - U.S. Representative, [D] New York THAT SAYS YOUR AMENDMENT MUST PASS. >> ABSOLUTELY NOT. >> YOU ARE SIMPLY
01:34:50	Hastings, Richard "Doc" - U.S. Representative, [R] Washington SAYING GIVE US AN OPPORTUNITY TO DEBATE IT ON BOTH SIDES. >> RIGHT. I'M ASKING -- I'M ASKING THE RULES COMMITTEE TO MAKE AN ORDER FOR AS LONG OR AS...
01:35:08	LaTourette, Steven C. - U.S. Representative, [R] Ohio IS A GOOD IDEA OR A BAD IDEA. THE ONLY ARGUMENT THAT I'VE
01:35:11	Hastings, Richard "Doc" - U.S. Representative, [R] Washington HEARD WHILE THE CHAIRMAN AND THE RANKING MEMBER HERE -- THAT
01:35:14	LaTourette, Steven C. - U.S. Representative, [R] Ohio I THINK HAS -- WELL, THERE HAVE BEEN A LOT OF VALID ONES. BUT THE THOUGHT THAT THIS WOULD SLOW IT DOWN BY A WEEK, THAT'S A REAL CONCERN. EVERYBODY...
01:36:10	Slaughter, Louise - U.S. Representative, [D] New York LAST NIGHT. I WAS TOLD THEY'RE NOT INTERESTED. >> NOT INTERESTED? >> NOT INTERESTED. >> BUT YOU THINK THEY WOULD BE INTERESTED IF WE DO IT HERE? >>...
01:36:23	LaTourette, Steven C. - U.S. Representative, [R] Ohio REASON TO BELIEVE THAT? XWL >> I SAW THE VOTE LAST NIGHT. DO YOU THINK THE DEMOCRATS WOULDN'T WELCOME THE OPPORTUNITY TO REDUCE THIS AMOUNT TO $250
01:36:33	Slaughter, Louise - U.S. Representative, [D] New York
01:36:34	LaTourette, Steven C. - U.S. Representative, [R] Ohio BILLION? THEY DID IT BECAUSE THEY FELT THERE WAS
01:36:36	Slaughter, Louise - U.S. Representative, [D] New York A SENSE OF URGENCY AND THERE WAS NO
01:36:38	LaTourette, Steven C. - U.S. Representative, [R] Ohio OTHER CHOICE. >>
01:36:39	Slaughter, Louise - U.S. Representative, [D] New York THERE WERE 25 NO
01:36:40	LaTourette, Steven C. - U.S. Representative, [R] Ohio VOTES. >> RIGHT. >> AND THEY WERE NOT INTERESTED. WELL,
01:36:44	Slaughter, Louise - U.S. Representative, [D] New York I DON'T WANT TO BELABOR THIS POINT. WE'VE GOT TO GET GOING. THANK
01:36:47	LaTourette, Steven C. - U.S. Representative, [R] Ohio YOU. >> I JUST WANT TO SAY THIS. MR. FRANK MENTIONED THIS IN HIS OPENING REMARKS. ABOUT SAYING THIS HAS BEEN -- THIS ISSUE HAS BEEN IN THE FOREFRONT....
01:37:00	Slaughter, Louise - U.S. Representative, [D] New York OF US HAVE LOOKED
01:37:01	LaTourette, Steven C. - U.S. Representative, [R] Ohio AT THIS BILL
01:37:03	Slaughter, Louise - U.S. Representative, [D] New York IN DETAIL. BUT THE FACT OF THE MATTER IS -- AND, AGAIN, THE PROCESS GETS KIND OF BORING, BUT THE ONLY
01:37:11	Hastings, Richard "Doc" - U.S. Representative, [R] Washington TWO TIMES -- THERE'S ONLY BEEN TWO TIMES THAT THE CONGRESS HAS HAD A HEARING ON THIS BILL IN THE HOUSE. THE FIRST ONE WAS AT 10:00, 10:00 P.M. SUNDAY...
01:37:45	LaTourette, Steven C. - U.S. Representative, [R] Ohio TO VOTE ON THIS BILL IN COMMITTEE OR ANY AMENDMENT, TRYING
01:37:48	Hastings, Richard "Doc" - U.S. Representative, [R] Washington TO PERFECT IT, REPUBLICAN OR DEMOCRAT. I ALSO WAS PRESENT ON MONDAY AND VOTED NO. I HAVE NOT HAD AN OPPORTUNITY TO VOTE ON ANY AMENDMENT. I DIDN'T HAVE...
01:37:59	LaTourette, Steven C. - U.S. Representative, [R] Ohio TO VOTE ON A MOEGDTION TO RECOMMIT. AND SO -- AND, AGAIN, IF YOU APPROVE A RULE WITH NO AMENDMENTS, ANY AMENDMENTS, YOU WILL BE SAYING TO ALL OF THE MEMBERS...
01:38:41	Dreier, David - U.S. Representative, [R] California BE ABLE TO MAKE IT AN ORDER AND SO THE -- I'M NOT TERRIBLY OPTIMISTIC ABOUT THE PROSPECT OF THAT AS MR. LATHAM AND I HAVE DISCUSSED. BUT IT WILL BE...
01:39:26	Hastings, Richard "Doc" - U.S. Representative, [R] Washington THE GENTLEMAN YIELD? >> I WILL IN A MOMENT. I WOULD HOPE THAT MEMBERS OF THE OTHER SIDE WOULD TAKE A STEP BACK AND SAY, WOW, YOU KNOW, A PROCESS THAT...
01:39:47	Latham, Thomas "Tom" - U.S. Representative, [R] Iowa FOUNDERS OF THE
01:39:48	Hastings, Richard "Doc" - U.S. Representative, [R] Washington PEOPLE. AND I -- GO AHEAD. >> WELL, I JUST, YOU KNOW, TOTALLY CONCUR WITH YOU. ALL WE'RE ASKING FOR IS TO GIVE THE 435 MEMBERS OF THIS HOUSE A CHANCE...
01:40:12	Latham, Thomas "Tom" - U.S. Representative, [R] Iowa AS IMPORTANT AS SOMETHING AS HUGE AS THIS ISSUE IS, I -- IT MEANS SO MUCH TO THE PEOPLE BACK AT HOME. I THINK IT'S VERY, VERY TROUBLING. >> I'D JUST...
01:40:45	LaTourette, Steven C. - U.S. Representative, [R] Ohio AND I WOULD URGE THE COMMITTEE TO GIVE IF VERY, VERY
01:40:49	Shadegg, John - U.S. Representative, [R] Arizona THOUGHTFUL CONSIDERATION. >> THANK YOU. MR. McGOVERN? >> I APPRECIATE YOUR SENTIMENTS AND I THINK THAT IT OUGHT TO BE -- I'LL CERTAINLY SUPPORT THE MOTION...
01:41:13	Slaughter, Louise - U.S. Representative, [D] New York YOU KNOW, I KNOW THE C-SPAN CAMERAS ARE HERE
01:41:15	Hastings, Richard "Doc" - U.S. Representative, [R] Washington AND SO WE HAVE -- SOMETIMES WE GIVE SPEECHES THAT PLAY TO THE AUDIENCE. AND KIND OF IGNORE REALITY. BUT THE FACT OF THE MATTER IS WE ARE HERE
01:41:26	LaTourette, Steven C. - U.S. Representative, [R] Ohio BECAUSE THE
01:41:27	Hastings, Richard "Doc" - U.S. Representative, [R] Washington PRESIDENT OF THE UNITED
01:41:28	Slaughter, Louise - U.S. Representative, [D] New York STATES TOLD US
01:41:29	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts IT THERE WAS AN EMERGENCY. THE SECRETARY OF TREASURY CAME UP HERE ALMOST A COUPLE OF WEEKS OF AGO AND SAID WE NEED TO ACT IMMEDIATELY. THAT IS WHY...
01:42:43	Dreier, David - U.S. Representative, [R] California
01:42:44	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts YOU KNOW, WE CAN ARGUE -- WE CAN
01:42:46	Dreier, David - U.S. Representative, [R] California QUIBBLE OVER WHETHER OR NOT THAT'S A BIG DEAL OR NOT. I DO THINK IT IS A BIG DEAL. I MEAN, I
01:42:51	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts WAS HOME THESE LAST FEW
01:42:52	Dreier, David - U.S. Representative, [R] California DAYS. AND MY SMALL BUSINESSES -- >>
01:42:56	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts WEDNESDAY. >> MY SMALL BUSINESS WAS CALLING ME AND TELLING ME THAT THEY ARE -- THEY'RE HAVING MORE DIFFICULTY ACCESSING CREDIT. PEOPLE GETTING NERVOUS....
01:43:16	Slaughter, Louise - U.S. Representative, [D] New York SENATE PASSED -- THE SENATE PASSED
01:43:18	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts THEIR BILL LAST NIGHT. AND NOW WE'RE EXPECTED TO PASS OUR BILL AND THEN DO NOTHING AND WALK AWAY OR DELAY THIS FOR A WEEK. I WILL TELL YOU, THAT WILL...
01:44:01	LaTourette, Steven C. - U.S. Representative, [R] Ohio THIS IS -- I THINK
01:44:02	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts IF WE DON'T DO THE RIGHT THING OR IF WE WALK AWAY TOMORROW WITHOUT DOING ANYTHING OR OUR -- YOU KNOW, OUR DEFEATING ANOTHER BILL, I THINK WE'LL HAVE...
01:44:38	LaTourette, Steven C. - U.S. Representative, [R] Ohio MONEY THAN THEY SAY
01:44:39	LaTourette, Steven C. - U.S. Representative, [R] Ohio THEY CAN BURN BETWEEN NOW AND JANUARY. WE'LL COME BACK AND HAVE A NEW PRESIDENT-ELECT. YOU THINK YOU'RE PICKING UP 20 SEATS. YOU'RE GOING TO GET SIX...
01:45:27	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts SAYING, WELL, LET'S PLAY A GAME OF CHICKEN. THIS IS SERIOUS. PEOPLE ARE IN TROUBLE. THIS COUNTRY IS IN TROUBLE. AND LOOK, I APPRECIATE
01:45:35	LaTourette, Steven C. - U.S. Representative, [R] Ohio WHAT YOU'RE
01:45:36	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts SAYING. I'M JUST RAISING THOSE POINTS BECAUSE I JUST WANTED TO CLARIFY -- >> LISTEN I'M -- >> YOU DON'T CONSIDER THE WESTERN SCHOOLS PROGRAM FOR...
01:46:03	LaTourette, Steven C. - U.S. Representative, [R] Ohio YOU WANT. IT'S FOUR. THEY'RE LISTED
01:46:05	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts THERE. YOU CAN ALL READ THEM. >> I YIELD TO THE GENTLEMAN. [ INAUDIBLE ] >>
01:46:10	LaTourette, Steven C. - U.S. Representative, [R] Ohio
01:46:11	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts
01:46:13	LaTourette, Steven C. - U.S. Representative, [R] Ohio WE LOST $1.2
01:46:19	Slaughter, Louise - U.S. Representative, [D] New York TRILLION IN
01:46:20	LaTourette, Steven C. - U.S. Representative, [R] Ohio THIS ECONOMY. I JUST GOT ON MY BLACKBERRY AND GOT SOME REPORTS ON -- FROM THE "WALL STREET JOURNAL." THERE'S SOMEONE
01:46:29	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts HERE THAT'S TALKING ABOUT THAT IF WE DON'T PASS THIS BILL SOON, THE DOW COULD BE AT 7,000. I DON'T KNOW WHAT THAT CALCULATES IN TRILLIONS, BUT I KNOW...
01:46:40	Cardoza, Dennis - U.S. Representative, [D] California THE LOSS OF TAX REVENUE WOULD BE MUCH GREATER THAN EVEN THE NUMBERS WE'RE TALKING ABOUT. SO I THINK WE HAVE TO BE VERY CAREFUL ABOUT HOW WE PROCEED...
01:47:15	Bachus, Spencer - U.S. Representative, [R] Alabama PLACE. THEY DO NOT NEED THE LEGISLATION TO DO THAT. THEY ARE ALREADY HIRING -- THEY'RE ALREADY CONSTRUCTING IT. SO WE DO NOT DELAY THIS PROGRAM ONE...
01:48:23	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts BILL WAS DEFEATED ON MONDAY THAT WE WOULD TRY TO PROCEED IN A
01:48:27	Bachus, Spencer - U.S. Representative, [R] Alabama BIPARTISAN WAY. I GET THE FEELING THAT SOME OF THE COMMENTS ON THIS COMMITTEE WERE GETTING
01:48:32	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts MORE PARTISAN. >> LET ME SAY THIS. JIM, I COULDN'T AGREE WITH YOU MORE. LISTEN, I WISH PEOPLE WOULD QUIT THAT. I WISH THEY WOULD QUIT TALKING ABOUT...
01:48:54	Bachus, Spencer - U.S. Representative, [R] Alabama BILLS. FOR THAT VERY REASON. AND SO THE IDEA THAT SOMEHOW THIS IS GOING TO BE DELAYED BY AN AMENDMENT THAT I THINK IS VERY WELL-WRITTEN AND VERY THOUGHTFUL
01:49:05	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts AND ACTUALLY GIVES
01:49:07	Bachus, Spencer - U.S. Representative, [R] Alabama CREDIBILITY TO THIS WHOLE
01:49:09	Latham, Thomas "Tom" - U.S. Representative, [R] Iowa PROCESS, THE SENATE CAN ACT THIS WEEKEND. WE CAN HAVE IT DONE BY TOMORROW NIGHT OR SATURDAY. BECAUSE THE SENATE IS HERE JUST IN CASE THERE IS A CHANGE...
01:49:43	Hastings, Alcee L. - U.S. Representative, [D] Florida NOT ONLY THIS AND THERE ARE A SUBSTANTIAL NUMBER OF MEMBERS FROM HERE ON BOTH SIDES OF THE AISLE AND ELSE WHERE IN OUR -- OUR GROUP AND THE -- AND THE...
01:52:43	LaTourette, Steven C. - U.S. Representative, [R] Ohio NAME AND SHAME ON
01:52:44	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts THEM. FIRST OF ALL. AND AS YOU KEEP REMINDING US, $450
01:52:47	LaTourette, Steven C. - U.S. Representative, [R] Ohio BILLION IS ABOUT FOUR YEARS IN IRAQ. SO TO MAKE THE BILL BETTER AND NOT ABDICATE OUR RESPONSIBILITY -- WHY CAN'T THEY HAVE SOME HEAT? I'M NOT AN EXPERT...
01:53:36	Slaughter, Louise - U.S. Representative, [D] New York MIGHT COME BACK. THEY'LL PICK A DATE THEY COULD ALL COME BACK SO WE COULD STILL BE -- >> CHAIRMAN, CHAIRMAN,
01:53:43	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts I WOULD
01:53:45	Slaughter, Louise - U.S. Representative, [D] New York THINK, YOU KNOW, TO SUGGEST THEY WOULD NOT COME BACK -- >> WELL, WE -- THEY MIGHT COME BACK. BUT WE'RE TALKING ABOUT TIMING. AND WE'RE TALKING ABOUT...
01:54:04	Bachus, Spencer - U.S. Representative, [R] Alabama THEM. SO IT'S AN AWFUL BIG GAMBLE TO TAKE WITH PEOPLE'S LIVES. >> WE SHOULD NOT REWARD THEIR BAD BEHAVIOR
01:54:11	Slaughter, Louise - U.S. Representative, [D] New York ON THIS ISSUE. WE SHOULD NOT REWARD THOSE FOUR OR FIVE SENATORS WHO SLIPPED THIS INTO THE BILL. AND WE DON'T HAVE TO. LET ME TELL YOU, THEY WILL COME...
01:54:30	Bachus, Spencer - U.S. Representative, [R] Alabama THAT THEY COME BACK. >> ARE THERE ANY OTHER QUESTIONS? >> I YIELD BACK MY TIME. >> ANY OTHERS? THANK YOU VERY MUCH. THANK YOU, GENTLEMEN. OH, YOU DO...
01:54:53	Slaughter, Louise - U.S. Representative, [D] New York REITERATE MY GRATITUDE. YOU HAVE
01:54:56	Slaughter, Louise - U.S. Representative, [D] New York WORKED VERY INTENSELY ON THIS
01:55:03	Diaz-Balart, L. - U.S. Representative, [R] Florida PROPOSAL. AND I -- AND ALL
01:55:05	Slaughter, Louise - U.S. Representative, [D] New York OF YOU FOR COMING AND SHARING YOUR THOUGHTS. THANK YOU AS WELL.
01:55:10	Diaz-Balart, L. - U.S. Representative, [R] Florida I WILL BE SUPPORTING THE MOTION MADE BY MR. DRIER TO ALLOW OUR COLLEAGUES ON THE FLOOR, ALL OF THEM, ALL OF THEM, TO -- TO EXPRESS THEIR POINT OF VIEW....
01:55:48	Diaz-Balart, L. - U.S. Representative, [R] Florida OF ORDER. BUT
01:55:49	LaTourette, Steven C. - U.S. Representative, [R] Ohio I BEG YOU TO PLEASE TALK TO YOUR COLLEAGUES TONIGHT AND DON'T COME OUT WITH A RULE. >> I DON'T THINK WE'RE GOING TO BE ABLE TO DO THAT TONIGHT. >> THERE...
01:56:14	Slaughter, Louise - U.S. Representative, [D] New York NOW, WE
01:56:16	LaTourette, Steven C. - U.S. Representative, [R] Ohio DID WANT TO REQUEST -- THIS IS THE SAME
01:56:18	Slaughter, Louise - U.S. Representative, [D] New York AMENDMENT THAT YOU
01:56:19	Diaz-Balart, L. - U.S. Representative, [R] Florida HAD LAST
01:56:21	Slaughter, Louise - U.S. Representative, [D] New York WEEK. THAT YOU WOULD
01:56:22	LaTourette, Steven C. - U.S. Representative, [R] Ohio SHORT OF ABBREV ABBREVIATE IT, WE WOULD APPRECIATE IT. >> MY AMENDMENT IS NOT AN AMENDMENT THAT HAS BEEN PREVIOUSLY SUBMITTED BUT I CAN EXPLAIN IT VERY...
01:56:31	Latham, Thomas "Tom" - U.S. Representative, [R] Iowa THE AMENDMENT SAYS TWO THINGS. I'VE JUST COME FROM A MEETING WITH WILLIAM ISAACS WHO
01:56:36	Slaughter, Louise - U.S. Representative, [D] New York HEADED UP THE FEDERAL DEPOSIT INSURANCE CORPORATION AND WORKED US OUT OF THE SAVINGS AND LOAN KRIZ. HE SAID THERE ARE VAST EMERGENCY POWERS THE FDIC
01:56:46	DeFazio, Peter A. - U.S. Representative, [D] Oregon HAS IT HASN'T USED. THEY COULD ON A RECOMMENDATION
01:56:50	Slaughter, Louise - U.S. Representative, [D] New York OF THE SECRETARY OF THE TREASURY AND THE PRESIDENT WITH THE
01:56:52	DeFazio, Peter A. - U.S. Representative, [D] Oregon APPROVAL OF THE FDIC BOARD AND THE FED BOARD DECLARE AN EMERGENCY WHICH GIVES THEM EXTRAORDINARY POWERS. AND HIS SIMPLE RECOMMENDATION IS THAT THEY...
01:59:11	Slaughter, Louise - U.S. Representative, [D] New York WITH SOLVING THE PROBLEM. BUT I ALSO THINK THAT WHAT THE GENTLEMAN SPOKE ABOUT IS IN THE "WALL STREET
01:59:18	Sessions, Peter "Pete" - U.S. Representative, [R] Texas JOURNAL," MAYBE THE 24th OF SEPTEMBER. AND, IN FACT, IF THERE IS DEEMED A RISK TO THE ENTIRE FINANCIAL SYSTEM, THE PRESIDENT CAN TRIGGER THIS. >> AND...
01:59:54	DeFazio, Peter A. - U.S. Representative, [D] Oregon ORDER. NOT WITHSTANDING MAJORITIES OR MINORITYIES BACK AND FORTH.
01:59:59	Sessions, Peter "Pete" - U.S. Representative, [R] Texas WE'VE ALWAYS ARGUED ONE WAY OR THE OTHER. FOR OR AGAINST THE SENATE BASED ON WHICH EVER SEAT YOU SAT IN. I THINK THIS BODY SHOULD PASS THE DARN BILL...
02:02:38	DeFazio, Peter A. - U.S. Representative, [D] Oregon RIGHT. THANK
02:02:39	Sessions, Peter "Pete" - U.S. Representative, [R] Texas
02:02:41	Slaughter, Louise - U.S. Representative, [D] New York YOU. >> HE'S A MEMBER OF THE FINANCIAL SERVICES COMMITTEE AND HE SAID THERE WAS NO -- WELL, THERE MAY HAVE BEEN A HEARING, BUT THERE WAS NO -- [...
02:02:57	DeFazio, Peter A. - U.S. Representative, [D] Oregon
02:02:58	Slaughter, Louise - U.S. Representative, [D] New York BILL. HE IS A MEMBER OF THAT COMMITTEE. >> ALL RIGHT. >> WILL
02:03:04	Hastings, Richard "Doc" - U.S. Representative, [R] Washington THE GENTLEMAN YIELD? >> YES. >> I AM CURIOUS. IS YOUR MINORITY -- IS THAT WHAT YOU'RE SAYING TO US? >> NO, I -- >> YES, INDEED. >> NO, I JUST SIMPLY...
02:03:23	Slaughter, Louise - U.S. Representative, [D] New York IS JUST SOME -- [ INAUDIBLE ]
02:03:25	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts I
02:03:26	Slaughter, Louise - U.S. Representative, [D] New York MADE THE OBSERVATION THAT
02:03:28	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts THE ONLY COMMITTEE IN THE HOUSE THAT HAS HAD A HEARING ON THE BILL IS THIS
02:03:35	Hastings, Richard "Doc" - U.S. Representative, [R] Washington
02:03:36	Slaughter, Louise - U.S. Representative, [D] New York COMMITTEE. THAT'S -- >> I UNDERSTAND
02:03:38	Hastings, Richard "Doc" - U.S. Representative, [R] Washington THAT. I'M JUST TRYING TO FIGURE OUT WHERE THAT'S COMING FROM. THAT'S ALL. DO YOU HAVE THE ANSWER? >> NO, I DON'T HAVE THE ANSWER. YOU HAD A QUESTION....
02:03:58	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts ASKING BECAUSE I THINK THE GENTLEMAN FROM OHIO IS TRYING TO PAZ THE BILL. >> OKAY. >> AND THE GENTLEMAN FROM OHIO HAS HIS NAME STRAIGHT UP AS TRYING...
02:04:06	Sessions, Peter "Pete" - U.S. Representative, [R] Texas ONE OF THE NEGOTIATORS
02:04:08	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts AND TRYING TO DO THE RIGHT THING FOR THIS COUNTRY. AND I THINK IF YOU DO DARE TO ASK HIM, I THINK
02:04:13	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts THAT GIVEN THE OPPORTUNITY TO SEE WHAT'S ON THE TABLE --
02:04:18	Sessions, Peter "Pete" - U.S. Representative, [R] Texas HE'S NOT HERE. I DON'T SEE THE GENTLEMAN
02:04:21	McGovern, James "Jim" - U.S. Representative, [D] Massachusetts HERE. GIVING HIM A CHANCE TO CONSIDER THAT AND THINK
02:04:23	Sessions, Peter "Pete" - U.S. Representative, [R] Texas ABOUT IT. >> THANK YOU, MADAM CHAIR. >> THANK YOU. >> THANK YOU VERY MUCH TO THE RULES COMMITTEE. AGAIN, FOR YOUR HARD WORK. LET ME MAKE IT VERY CLEAR...
02:04:48	DeFazio, Peter A. - U.S. Representative, [D] Oregon AND MADE DECISIONS THEY THOUGHT THEY WERE BEST FOR THEIR CONSTITUENCY
02:04:51	Slaughter, Louise - U.S. Representative, [D] New York
02:04:52	Jackson Lee, Sheila - U.S. Representative, [D] Texas AND FOR AMERICA. AND I'D LIKE TO THINK THAT OUR PRESENCE HERE AT THE RULES COMMITTEE IS EQUALLY THAT. EVEN AS I ASSOCIATE MYSELF WITH THE WORDS OF...
02:09:45	Slaughter, Louise - U.S. Representative, [D] New York REVENUE-GENERATING
02:09:47	Jackson Lee, Sheila - U.S. Representative, [D] Texas LEGISLATION. I THINK THAT IS ENORMOUSLY IMPORTANT. THE CONSTITUTION VESTS THAT IN THE HOUSE AND I WOULD HOPE THAT WE DO SO. I HOPE WE'RE ALL
02:09:55	Slaughter, Louise - U.S. Representative, [D] New York THINKING ABOUT ALL OF THOSE ON MAIN STREET THAT WE ALL
02:09:58	Jackson Lee, Sheila - U.S. Representative, [D] Texas REPRESENT. I YIELD BACK. >> THANK YOU VERY MUCH. ARE THERE ANY QUESTIONS? IF THERE ARE NONE, I WILL THANK YOU FOR COMING. APPRECIATE THAT. AND WE WILL...
02:10:21	Slaughter, Louise - U.S. Representative, [D] New York COVERAGE

NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.