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House Proceeding on Jan 15th, 2009 :: 0:39:40 to 0:41:30
Total video length: 2 hours 17 minutes Stream Tools: Stream Overview | Edit Time

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Dan Burton

0:39:19 to 0:39:41( Edit History Discussion )

Dan Burton: up a program, the hope program, in trying to facilitate those people who are in difficult situations to remain in their houses. i believe it was ms. waters that raised the same point. what do we do for the people that has paid their bills month after month on time and saying to them, well, you know what,

Dan Burton

0:39:40 to 0:41:30( Edit History Discussion )
Speech By: Dan Burton

Dan Burton

0:39:42 to 0:40:02( Edit History Discussion )

Dan Burton: we're going to use your tax dollars to subsidize the people across the street with a program to help them keep when they went over the amount they should be spending on their homes? and that's the philosophical difference we have. i now yield two minutes to the gentleman from indiana, mr. burton. the chairman: the gentleman from indiana is recognized for two minutes.

Dan Burton

0:40:03 to 0:40:23( Edit History Discussion )

Dan Burton: mr. burton: i'm opposed to all these bailouts, but after having said that i say if we're going to do it we really need a comprehensive plan that's going to deal with the problems facing ts country. i had home builders come into my -- my office last week and they told me that their businesses are being reappraised and they're going to have to pay the difference

Dan Burton

0:40:24 to 0:40:44( Edit History Discussion )

Dan Burton: between what the appraisal was initially and what it is now and they're driving a lot of these home builders t of business. i had some people who are commercial developers come in to see me last week and they told me that their commercial assets are being reappraised, maybe 70% of what they were before, and they have to pay the difference between what they were getting in the 70%.

Dan Burton

0:40:45 to 0:41:05( Edit History Discussion )

Dan Burton: and they're being driven out of business. so there's a huge cascading effect with all these problems that we're facing right now and we're not addressinghem in this bill or any of the other bills that we've seen. we have people losing their homes. you have home builders that are going out of business. you have commercial developers that are going out of business because of these reappraisals

Dan Burton

0:41:06 to 0:41:26( Edit History Discussion )

Dan Burton: and there's nothing in the plans that i've seen that addresses these problems. mr. frank and i are good friends, but just throwing this money at these problems without any plan is absolutely crazy. and yet we did it with the first 50 billion. we're going to do it again and then we're going to come back with a .2 trillion request in just another two or three

Dan Burton

0:41:27 to 0:41:30( Edit History Discussion )

Dan Burton: weeks. i mean, we can't buy our way out of these problems.

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