Video archive of the US Congress

House Proceeding on Mar 5th, 2009 :: 1:04:35 to 1:07:00
Total video length: 1 hours 28 minutes Stream Tools: Stream Overview | Edit Time

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Al Green

1:04:32 to 1:04:53( Edit History Discussion )

Al Green: there is a way we can do it. we can put more resources in there that the mortgage servicers can use t this is a long road. the speaker pro tempore: the gentleman's time has expired. the gentleman from florida. mr. hastings: i'm very pleased friend, the gentleman from texas, mr. green. the speaker pro tempore: the gentleman is recognized for two minutes. mr. green: thank you, mr. speaker. and i thank the member for

Al Green

1:04:35 to 1:07:00( Edit History Discussion )
Speech By: Al Green

Al Green

1:04:54 to 1:05:16( Edit History Discussion )

Al Green: yielding the time from florida. i'm honored to be associated with this piece of legislation. mr. speaker, the words that come to mind as we debate this issue, the word that comes to mind or words would be at last. at last we are now embracing help for homeowners.

Al Green

1:05:17 to 1:05:37( Edit History Discussion )

Al Green: we have worked for wall street. we have worked to do something for main street. it is now time to do something for homstreet. the street where people live, the street where people have their greatest investment. let's talk for just a moment about those -- the concerns with reference to allowing bankruptcy to become a part o

Al Green

1:05:38 to 1:05:59( Edit History Discussion )

Al Green: this process. my dear friends, bankruptcy is already a part of the process. if you own two, three, four, or five homes you may modify those homes in bankruptcy. if you only own one home as your principal home, that home is excluded from bankruptcy.

Al Green

1:06:00 to 1:06:21( Edit History Discussion )

Al Green: the bankruptcy process ought to embrace people who have not been as fortunate as those who have five homes to the same extent that it embraces people who have but one place to call home. it is time to bring some equity into this equity is not prospective. it is tret row spective -- it is retrospective.

Al Green

1:06:22 to 1:06:44( Edit History Discussion )

Al Green: it only applies to homes that were closed on prior bill being enacted. it does not go forward. so this argument that is embraces interest rates into the future is not a correct argument. it only embraces the past not the future. and finally i would say to you, as this is done, the homeowner

Al Green

1:06:45 to 1:07:00( Edit History Discussion )

Al Green: haso attempt a workout before there can be judicial modification. the safeguards are tre. the opportunity is before us. the question is, do we want to protect home street to the same extent that we want to protect main street and wall street? there are people who are suffering.

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