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Video archive of the US Congress

House Proceeding 03-31-09 on Mar 31st, 2009 :: 3:47:10 to 3:48:25
Total video length: 6 hours 3 minutes Stream Tools: Stream Overview | Edit Time

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Thomas E. Petri

3:47:06 to 3:47:26( Edit History Discussion )

Thomas E. Petri: important value and how it reflects on the middle class and their ability to get ahead and to have a productive and meaningful life. mr. perriello: thank you to the gentleman for yielding. i want to pick up on the point you raised which is the idea that accountability is somehow anti-wall street. the money managers i know, the people i know who are in the

Thomas E. Petri

3:47:10 to 3:48:25( Edit History Discussion )
Speech By: Thomas E. Petri

Thomas E. Petri

3:47:27 to 3:47:47( Edit History Discussion )

Thomas E. Petri: market are looking for certainty. one of the worst things we can say to the market is to introduce the uncertainty of not kning what the rules are. because the fact is one of the middle class values you discussed is basic responsibility. when we reward responsibility, that's a good thing for the middle class. there were many, many investment firms and others on wall street

Thomas E. Petri

3:47:48 to 3:48:08( Edit History Discussion )

Thomas E. Petri: who knew the mortgage-backed securities were out there who could have taken, had better quarters in the short term but they chose not to engage in these very high-risk speculative investments. what we did itead was we have now bailed out some of the least responsible, most speculative agencies, and not rewarded the responsible ones.

Thomas E. Petri

3:48:09 to 3:48:25( Edit History Discussion )

Thomas E. Petri: we see the same thing on main street. you talked about no extra paperwork. it is so important that we draw a distinction between our community banks who have been responsible through all this and the megabanks who have been driving the problem so that we don't responsible by punishing the responsible actors in our

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