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House Proceeding 04-29-09 on Apr 29th, 2009 :: 3:51:40 to 3:54:55
Total video length: 5 hours 24 minutes Stream Tools: Stream Overview | Edit Time

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Michael E. Capuano

3:51:36 to 3:51:57( Edit History Discussion )

Michael E. Capuano: steward, that's what i call being a financial leader and that's what i call the leadership of barney frank of massachusetts. i'm proud to be on the committee. i yield back. mr. capuano: i'd like to read one little fact. may 25, 2005, there was a vote in the financial services committee of the house.

Michael E. Capuano

3:51:40 to 3:54:55( Edit History Discussion )
Speech By: Michael E. Capuano

Michael E. Capuano

3:51:58 to 3:52:18( Edit History Discussion )

Michael E. Capuano: it was then under the control of republicans, chairman was mike oxley, who's been mentioned here a couple of times. i knew representative oxley, he was a good man. he was a true conservative. but he was a good man. he fought for his ideals and we all fight for ours and he at

Michael E. Capuano

3:52:19 to 3:52:40( Edit History Discussion )

Michael E. Capuano: that time had control he won a fair number of times. he would talk to you openly, honestly, didn't pull any punches. chairman oxley at the head, representative frank as the ranking member of the minority party, may 25, 2005, h.r. 461 a

Michael E. Capuano

3:52:41 to 3:53:03( Edit History Discussion )

Michael E. Capuano: vote of 65-5, single democrat and obviously committee voted for a reform bill of fannie and freddie. that bill came out, went to the rules committee, and was changed. it was changed. dramatically changed. why it was changed, pure

Michael E. Capuano

3:53:04 to 3:53:24( Edit History Discussion )

Michael E. Capuano: ideology. republicans, as the democrats do now if the democrats stick together, we can pretty much pass any bill we want out of financial services or any other committee. that's the way the house works. at the time, the republicans were in the majority, they could have passed any bill they wanted without a single democratic vote if they preferred to do so. chairman oxley preferred to

Michael E. Capuano

3:53:25 to 3:53:45( Edit History Discussion )

Michael E. Capuano: take an important issue and work hard to get bipartisan support. and he did. did. my colleagues here all serve on the fincial services committee. you can't name me too many times that we have a roll call vote we get a 65-5 vote on any issue of major importance today. or almost ever.

Michael E. Capuano

3:53:46 to 3:54:06( Edit History Discussion )

Michael E. Capuano: i've been on the committee 11 years now, it almost never happens. that is hard work. that's work that deserves credit. that says that there is a -- this is a serious issue that should rise above the ideology of either side. the bill wasn't perfect, in my opinion. but it was pretty good it was the best we could get at the time, we were in the minority. something is better than

Michael E. Capuano

3:54:07 to 3:54:27( Edit History Discussion )

Michael E. Capuano: nothing. 65-5. the bill comes out, gets tossed aside by people that didn't know much about the issue, yet ran this house because of ideological purposes. that tells you, i think it should tell you, there was an attempt to take action even in 2005.

Michael E. Capuano

3:54:28 to 3:54:48( Edit History Discussion )

Michael E. Capuano: when that happens you send the bill up, the committee has done its work, you think everything is going well and people are in agreement, when the leadership of the house says, forget about it, we bipartisanship, that tells you, don't even try this again. not -- don't waste your time. there was nothing else that

Michael E. Capuano

3:54:49 to 3:54:56( Edit History Discussion )

Michael E. Capuano: happened until democrats took the house back and we acted quickly. representative ellison just listed a bunch of those items.

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