Video archive of the US Congress

House Proceeding 04-29-09 on Apr 29th, 2009 :: 2:29:40 to 2:30:40
Total video length: 5 hours 24 minutes Stream Tools: Stream Overview | Edit Time

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John Kline

2:29:40 to 2:30:00( Edit History Discussion )

John Kline: this generation, another generati generation. when you get numbers like these, what are we going to do mr. akin: the trouble with a ponzi scheme, sometime the music stops and there aren't enough chairs, then the proverbial stuff slides down the wall and there's a big problem. that's part of what started

John Kline

2:29:40 to 2:30:40( Edit History Discussion )
Speech By: John Kline

John Kline

2:30:01 to 2:30:22( Edit History Discussion )

John Kline: this whole thing was what was effectively a scheme, a pyramiding scheme in a sense. but some people wanto say this is a failure of free enterprise. it's not a problem of free enterprise, it's a problem of socialism. it's a problem of this government telling freddie and fannie they had to make loans that weren't going to work. if you tell somebody you've got

John Kline

2:30:23 to 2:30:42( Edit History Discussion )

John Kline: to do something and they're saying to you, economically this isn't going to work and you force it and keep doing that, then you have a bunch of other people playing along with the scheme and give it triple-a rating, pretty soon the music stops and it's affecting the entire economy.

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