Video archive of the US Congress

House Proceeding 05-05-09 on May 5th, 2009 :: 1:32:25 to 1:35:05
Total video length: 5 hours 34 minutes Stream Tools: Stream Overview | Edit Time

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Thomas E. Petri

1:32:22 to 1:32:42( Edit History Discussion )

Thomas E. Petri: standing up for the renters, and i want to tell the people we are standing up for them and we will take action on thursday on their behalf. with that, i'd like to turn it over to mr. perriello from virginia to offer his comments on this discussion. mr. perriello: representative driehaus, this is an e moment. you can feel the sense of change.

Thomas E. Petri

1:32:25 to 1:35:05( Edit History Discussion )
Speech By: Thomas E. Petri

Thomas E. Petri

1:32:43 to 1:33:04( Edit History Discussion )

Thomas E. Petri: many of us that are part of this colloquy right now are all from the freshman class. i think it's not a coincidence. but because we represent a class that is in favor of accountability, accountability and common sense. many of usere called oto politics for the first time by watching more a decade of irresponsibility here in congress and in the white house where we saw policies of wall

Thomas E. Petri

1:33:05 to 1:33:26( Edit History Discussion )

Thomas E. Petri: street greed cloaked in the sense of main street compassion in what was called the ownership society. policies that seemed to suggest that everyone could own a home, regardless of how much money they made, when really it was a strategy to help the rich make a lot of money on the failure of those who could never afford a house in the first place. year after year, as you pointed

Thomas E. Petri

1:33:27 to 1:33:47( Edit History Discussion )

Thomas E. Petri: out, there were opportunities to put basic common sense accountability rules in place to prevent this from happening and year after year we saw this congress do nothing, do nothing to challenge these absurd policies. and we all know now that these policies affected much more than just the lender and the borrower. we all as americans are in the same neighborhoods affected by

Thomas E. Petri

1:33:48 to 1:34:08( Edit History Discussion )

Thomas E. Petri: these massive foreclosures. it doesn't just affect those who cannot afford their mortgage, but those who live on streets where foreclosures occurred. we have seen a fundamental lack of accountability, but you see in this congress with new members from the 2006 d 2008 class pushing for real change on accountability. we saw it last week with the

Thomas E. Petri

1:34:09 to 1:34:29( Edit History Discussion )

Thomas E. Petri: credit card bill. fundamental, common sense legislation that said, let's put some rules in place to prevent the tricks and traps. if it's a product you can't sell on your own, you have to fool people into it, maybe this is a place where basic consumer protections need to step. in now we're ready to do the same thing witpredatory mortgage lending because we're

Thomas E. Petri

1:34:30 to 1:34:50( Edit History Discussion )

Thomas E. Petri: all affected by this our housing prices are affected by it. our retirement security is affected by it. it's about time we put in place the kind of common sense legislation that will reward the good actors, like our community banks that have remained strong through this entire process, instead of continuing to bail out those who have been the least responsible through this process. this is a show that results are

Thomas E. Petri

1:34:51 to 1:35:05( Edit History Discussion )

Thomas E. Petri: possible. they could have been possible if the will was there under previous congresses and administrations. now the will is there and we will not rest until we put in these basic restrictions and continue to expand this new era of accountability to reverse the

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