Video archive of the US Congress

House Proceeding on Jan 22nd, 2009 :: 2:24:10 to 2:26:30
Total video length: 2 hours 47 minutes Stream Tools: Stream Overview | Edit Time

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David Scott

2:23:57 to 2:24:18( Edit History Discussion )

David Scott: this debate. i'd like to respond very briefly to a cple of points that have been made by the distinguished the gentlelady from north carolina and -- the disting wished gent distinguished gentleladyrom

David Scott

2:24:10 to 2:26:30( Edit History Discussion )
Speech By: David Scott

David Scott

2:24:19 to 2:24:40( Edit History Discussion )

David Scott: north carolina. and one scene from a movie says we have a failure to communicate. i think we have a failure to communicate. now, ms. foxx, you continually point out that we don't have accountability. that there is -- and in the bill that we passed the tarp

David Scott

2:24:41 to 2:25:02( Edit History Discussion )

David Scott: bill we passed on yesterday are clear, clearly pointed out mechanisms in place for accountability, for transparency, quarterly reports on how the money's spent and agreements on how the funds are spent. we have a requirement that in spite all of what we've said

David Scott

2:25:03 to 2:25:23( Edit History Discussion )

David Scott: that we will have federal observers in the board rooms where the decisions are made on how the money is spent. how much more transparency, how much more accountability can we have? we didn't have this in the first section. let me finish. we found out that it worked, as we know, so well with the

David Scott

2:25:24 to 2:25:45( Edit History Discussion )

David Scott: a.i.g. agreement. we have federal observers there. we know how that is done. it keeps individuals honest. and on the three most important areas that there was failure on the first 50 billion not a dime going to help foreclosures, we've more than made up for that by writing

David Scott

2:25:46 to 2:26:06( Edit History Discussion )

David Scott: intohe tarp law that up to 00 billion will be going out of this 50 billion to deal with the most pressing problem, the most pressing problem that caused the problem in the first place and that is home foreclosures and getting help in a variety of different ways to sustain people to stay in

David Scott

2:26:07 to 2:26:27( Edit History Discussion )

David Scott: their homes. the other area of concern was that there was no way we could measure or determine the banks would lend the money. well, we've got a mechanism in place here that will measure the difference between the increase and the decrease of the amount of moneys that the banks are lending under the program.

David Scott

2:26:28 to 2:26:31( Edit History Discussion )

David Scott: so to say that there's no accountability, that there is

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