Video archive of the US Congress

House Proceeding on Jul 23rd, 2008 :: 2:33:57 to 2:35:20
Total video length: 2 hours 55 minutes Stream Tools: Stream Overview | Edit Time

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Jeff Flake

2:31:42 to 2:33:57( Edit History Discussion )
Speech By: Jeff Flake

Jeff Flake

2:33:43 to 2:33:57( Edit History Discussion )

Jeff Flake: it is so important that we move to deal with the subprime crisis in this hi country. it is not getting better, it is getting worse. and we find that community after community is being destroyed

Barbara Lee

2:33:57 to 2:34:14( Edit History Discussion )

Barbara Lee: because we have boarded up foreclosed homes that are driving down property values, driving down the cost of the houses that are now upside down on their mortgages and they cannot sell them,

Barbara Lee

2:33:57 to 2:35:20( Edit History Discussion )
Speech By: Barbara Lee

Barbara Lee

2:34:14 to 2:34:27( Edit History Discussion )

Barbara Lee: and they're stuck. so the rules committee has worked hard, understanding the many aspects of this issue, and they have heard the legislation that is before us today that would simply mark down these properties

Barbara Lee

2:34:27 to 2:34:38( Edit History Discussion )

Barbara Lee: by 15%, f.h.a., which we have strengthened will do the refinance on these properties. we have also learned that f.h.a. has been strengthened substantially with this legislation and that part

Barbara Lee

2:34:38 to 2:34:58( Edit History Discussion )

Barbara Lee: of the bill that i've been very much involved in will provide about $4 billion to cities and counties so that they can have noun rehabilitate these properties, put them back on the market

Barbara Lee

2:34:58 to 2:35:20( Edit History Discussion )

Barbara Lee: for sale or for rent and help to stabilize these neighborhoods. soorningsd the g.s.e.'s arsde in the bill and you're going to hear a lot about the g.s.e.'s, but the fact of the matter is,

John Campbell

2:35:20 to 2:35:33( Edit History Discussion )

John Campbell: this bill is about stabilizing this economy and we cannot afford to have the largest two semigovernment agencies unprotected while some people know there's more work to be done on the g.s.e.'s,

John Campbell

2:35:20 to 2:37:57( Edit History Discussion )
Speech By: John Campbell

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