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House Proceeding 01-14-09 on Jan 14th, 2009 :: 0:24:05 to 0:28:55
Total video length: 1 hours 57 minutes Stream Tools: Stream Overview | Edit Time

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Randy Neugebauer

0:24:01 to 0:24:22( Edit History Discussion )

Randy Neugebauer: members from california, for helping improve this bill and i give them my commitment that as chairman of the committee i'll be working with them to go further. mrs. tauscher: i want to thank chairman frank for recognizing that california has been particularly hard hit and look forward to working with him and my other colleagues to ensure that federal foreclosure mitigation efforts effectively address these areas that have been most affected by the

Randy Neugebauer

0:24:05 to 0:28:55( Edit History Discussion )
Speech By: Randy Neugebauer

Randy Neugebauer

0:24:23 to 0:24:43( Edit History Discussion )

Randy Neugebauer: economic crisis and i yield back the balance of my time. and i urge everyone's support for the bill. thank you, mr. chairman, and i yield back my time. the speaker pro tempore: the gentlewoman yields back the balance of her time. e gentleman from alabama. mr. bachus: thank you, mr. chairman. mr. chairman, i yield four minutes to the gentleman from texas, mr. neugebauer. the speaker pro tempore: the

Randy Neugebauer

0:24:44 to 0:25:04( Edit History Discussion )

Randy Neugebauer: gentleman from texas is recognized for four minutes. mr. neugebauer: i thank the gentleman. i think i heard the chairman voicing frustration with this current administration on how the tarp program was put together. i think a lot of members that voted for this pgram, including the chairman, have had second thoughts because we hastily gave the authority to the administration with no plan

Randy Neugebauer

0:25:05 to 0:25:25( Edit History Discussion )

Randy Neugebauer: and more importantly, no exit strategy. but why remind the chairman that the -- but i would remind the chairman that the incoming news secretary, should he be confirmed and move through some issues he may have, was at that table and designing that tarp program. and so there is a lot of -- if we were passing out blame, there

Randy Neugebauer

0:25:26 to 0:25:46( Edit History Discussion )

Randy Neugebauer: may be a lot of places to pass out blame but here's the most important thing. everybody that voted for that has been having second thoughts because quite honestly, the money didn't get spent like it was represented it was going to be spent. there has been some intended quentses but there's been some unintended consequences of the money we passed out because we started picking winners and losers and any time the

Randy Neugebauer

0:25:47 to 0:26:07( Edit History Discussion )

Randy Neugebauer: government starts picking winners and losers, we're going to get in trouble. the issue is what to do with this next 50 billion. everybody thought we were going to have some say so over this next 50 billion, but in fact we're not. this bill, while it may pass in this house, will never become law.

Randy Neugebauer

0:26:08 to 0:26:30( Edit History Discussion )

Randy Neugebauer: the senate has already said they will not take this bill up. so what should we be doing? on both sides of the aisle, what we should be doing here is coming back d doing an autopsy on how we've spent the first 50 billion, what has been the results of that and should we even look at or consider the additional 50? the american people are not very

Randy Neugebauer

0:26:31 to 0:26:52( Edit History Discussion )

Randy Neugebauer: happy about this -- additional 50 billion? the american people are not happy about this. we have relegated the constitutional responsibility of this house by just giving the administration, whether it's this current administration or the new administration, 00 billion and say, do the best you can. i don't think anybody thinks that's a very good plan. in fact, what should happen and

Randy Neugebauer

0:26:53 to 0:27:13( Edit History Discussion )

Randy Neugebauer: the chairman has in most cases been very open and had markups and vetting of legislation, i'm very disappointed, qui honestly in this case, this is one person's bill, quite honestly. and so one person is going to determine what the next 50 billion, although this bill will not become law, but what we ought to be doing is having hearings and the chairman in t

Randy Neugebauer

0:27:14 to 0:27:34( Edit History Discussion )

Randy Neugebauer: past has had hearings, bringing people in here and asking them to account for the money that's been given them. also to talk about what is the best way to do that. because what a number of members that voted for it, now, i did not vote for it, i voted against it twice. some people voted for it and against it but the chairman said we weren't clear.

Randy Neugebauer

0:27:35 to 0:27:56( Edit History Discussion )

Randy Neugebauer: i'm very clear how i voted on it. i voted against it because i have a real problem giveing people 00 billion of the american taxpayers' money without a plan. more particularly, no accountability. we have not seen any particular reports. we have a gentleman from texas that sits on an oversight board. he's openly said he he's not sure what's going on -- he's not

Randy Neugebauer

0:27:57 to 0:28:18( Edit History Discussion )

Randy Neugebauer: sure what's going on because the amount of information he's receiving is a question. it should bother the american people and members on both sides of the aisle that we are not doing the people's business. the way we do this right, if we were serious about doing this right, is we stop this project process, we put it on hold, we ask the new administration to step forward with the plan. we get members on both sides of

Randy Neugebauer

0:28:19 to 0:28:39( Edit History Discussion )

Randy Neugebauer: the aisle to look at that plan. we vote, we offeamendments, we open that process so when we go back home we can say we did what was in the best interest of the american people. but when you close the process, when you try to change the original intent of tarp which was to use american taxpayers' resources to loan to or to

Randy Neugebauer

0:28:40 to 0:28:55( Edit History Discussion )

Randy Neugebauer: guarantee with the hopes of getting backn fact even people were talking about we may make money on this. but many of the provisions of this bill aren't intended to get any return on the taxpayers' money. particularly then we are moving

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