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Video archive of the US Congress

House Proceeding on Jul 31st, 2009 :: 1:10:15 to 1:13:30
Total video length: 3 hours 53 minutes Stream Tools: Stream Overview | Edit Time

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Al Green

1:10:13 to 1:10:34( Edit History Discussion )

Al Green: have heard, it also takes a congress wil this is our opportunity to act. this is our opportunity to do what dr. king called bending the arc of the moral universit toward justice this piece of legislation is just given the circumstance this is a we have been coping with.

Al Green

1:10:15 to 1:13:30( Edit History Discussion )
Speech By: Al Green

Al Green

1:10:35 to 1:10:57( Edit History Discussion )

Al Green: there is no dispute that many c.e.o.'s have had their pay structured such that no matter what the consequences of their actions, they were going to receive enormous bonuses. i think there are two good reasons to support this legislatn. one, it deals with the safety and soundness of the banking institutions

Al Green

1:10:58 to 1:11:18( Edit History Discussion )

Al Green: it performs perfectly, if it does just this as far as i'm concerned, if it allows a banking regulator who sees that the structure of pay is impacting the safety and soundness of the institution, fit allow this is regulator to take some affirmative action to protect the safety and soundness of the institution, this piece of legislation is

Al Green

1:11:19 to 1:11:40( Edit History Discussion )

Al Green: working. that's what it's designed to do not to structure the pay, but to prevent the pay from causing ordinary people to have to bail out big banks. people are expecting us to do something to prevent this from happening again. if we are going to act this is a means by which we can act. talking about that which we

Al Green

1:11:41 to 1:12:01( Edit History Discussion )

Al Green: cannot dand will not do, that is not on the agenda, that will not help us do what we can do today. i never let what i cannot do prevent me from doing what i can do the second reason i support this legislation, this legislation allows sharehders, by the way, i trust shareholders, i think people who have a vested

Al Green

1:12:02 to 1:12:22( Edit History Discussion )

Al Green: interest in something ought to have some say. i think they ought to be able to know what the salary structure is and say something about it. in this case, it is nonbinding. there are many people who are of the opinion that nonbinding is not enough. but i trust the shareholders to have an opinion. they have but an opinion.

Al Green

1:12:23 to 1:12:43( Edit History Discussion )

Al Green: they don't do anything to bind the corporation. these two reasons, when combined, will help us with the safety and soundness of these stewings and give the shareholders an opportunity know how the salaries are structurednd have some say. finally if we want to be a congress that acts, we've got to have courage. these are -- these are trying

Al Green

1:12:44 to 1:13:04( Edit History Discussion )

Al Green: times. these are difficult times. it is easy to stay with the status quo. those who want change have got to be willing to take the risk of doing the right thing. the arc of the moral university bends toward justice but it doesn't do so by itself. it does so because of people

Al Green

1:13:05 to 1:13:25( Edit History Discussion )

Al Green: who are willing to do the right thing under unusual and extraordinary circumstances. i am going to stand with the chairman, i believe the chairman is immently correct he has structured a great piece of legislation, those who really want change will vote for this legislation. those who want to see a better system so that we don't end up

Al Green

1:13:26 to 1:13:31( Edit History Discussion )

Al Green: with mor read, bailed out banks gave

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