House Proceeding on Feb 26th, 2009 :: 0:42:55 to 0:45:05
Total video length: 1 hours 21 minutes Stream Tools: Stream Overview | Edit Time

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

Views:266 Duration: 0:02:10 Discussion

Previous speech:

Next speech:

0:42:51 to 0:43:11( Edit History Discussion )

Jerrold Nadler: dialogue on why it was changed in the dark of the night by staff without a single member that will take accountability for what's happened here. and i'd yield back. the speaker pro tempore: the gentleman from florida. mr. hastings: mr. speaker, i'm very minutes to my good friend, the gentleman from new york, a member of the judiciary committee, mr. nadler. the speaker pro tempore: the

0:42:55 to 0:45:05( Edit History Discussion )
Speech By: Jerrold Nadler

0:43:12 to 0:43:33( Edit History Discussion )

Jerrold Nadler: gentleman from new york is recognized for two minutes. mr. nadler: i thank the gentleman. mr. speaker, this legislation is an opportunity for members to help families who are about to lose their homes thanks to a combination of job loss, spiral health cos, predatory lending practices. it will, among other things, correct the 30-year-old anomaly in the bankruptcy code. if you're a family farmer,

0:43:34 to 0:43:54( Edit History Discussion )

Jerrold Nadler: you're allowed to use bankruptcy to help you. it was a success and we made it permanent three years ago. if you're a real estate speculator or if you own five or 20 or 50 homes you can modify your mortgage in braupsbrups. the only exction is the

0:43:55 to 0:44:17( Edit History Discussion )

Jerrold Nadler: family home. while millions of middle-class families are on the urge of losing their homes, some members of this house are still opposed to providing the same relief to the middle class that is now enjoyed by farmers, speculators, the wealthy and major corporations. lenders warn that we can't save the family home because it will increase borrowing costs for everyone else.

0:44:18 to 0:44:38( Edit History Discussion )

Jerrold Nadler: . this is the same industry that said it would reduce interest by $400 a year for credit cards. nothing happened, of course. they screamed at the thought of us helping a few thousand families. i have nothing against wall street. it's in my district. it's time we did something for

0:44:39 to 0:44:59( Edit History Discussion )

Jerrold Nadler: the middle class homeowner. we tried the voluntary modification route without success. maybe the programs in this bill will all work this time. but families getting thrown out of their homes shouldn't have to waitor congress to figure out how to get banks to save the middle class. the banks have failed to save troubled homeowns. we must not fail. for every delay we delay, the

0:45:00 to 0:45:06( Edit History Discussion )

Jerrold Nadler: crisis deepens. it's time we put american families first. i urge my colleagues to support the rule, support this