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House Proceeding 05-07-09 on May 7th, 2009 :: 1:26:35 to 1:28:20
Total video length: 2 hours 19 minutes Stream Tools: Stream Overview | Edit Time

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Barney Frank

1:26:31 to 1:26:52( Edit History Discussion )

Barney Frank: a challenging situation finding credit. i once again urge adoption of the amendment and i reserve the balae of my time. the chair: the gentleman reserves the balance of his time. the gentleman from massachusetts. mr. frank: mr. chairman, first i guess i have to apologize to the gentleman from georgia listening what he said. he chided me, mildly, in a friendly manner, for mentioning

Barney Frank

1:26:35 to 1:28:20( Edit History Discussion )
Speech By: Barney Frank

Barney Frank

1:26:53 to 1:27:17( Edit History Discussion )

Barney Frank: the dimensions of the safe harbor. i was only respo description of it. i listened to him. he said the safe harbor was too narrow. it would push people in the 30 year. i responded i thought when he raised it it was relevant. beyond that we do have this issue. do you tell the federal reserve that it will decide whether or not this goes forward. it also says, and there's a lack

Barney Frank

1:27:18 to 1:27:38( Edit History Discussion )

Barney Frank: of balance here, if it says it will reduce the availability any amount, well, to some extent thpurpose of this bill is to reduce the availability of credit. if members believe that people got mortgages who shouldn't have been able to get them, then they ought to support a bill will reduce the availability of credit.

Barney Frank

1:27:39 to 1:28:00( Edit History Discussion )

Barney Frank: frankly, the profligate availability of credit is a major reason for the current problem. so, yes, there are people who used to get mortgages who won't get them under this bill. some lenders don't like this. there are lenders who made loans. they won't be able to make the loans under this bill. but that's precisely the point.

Barney Frank

1:28:01 to 1:28:20( Edit History Discussion )

Barney Frank: the point is not to be as loosely granted as it was. even for qualified mortgages. people got mortgages who shouldn't have gotten them. if you believe that not the past should get a mortgage now, then it would seem to me you want to reduce the availability of credit. the question is how do you do

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