House Proceeding on Oct 2nd, 2008 :: 0:38:45 to 0:40:55
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0:36:36 to 0:38:45( Edit History Discussion )
Speech By: Chris Cannon

0:38:32 to 0:38:45( Edit History Discussion )

Chris Cannon: but as an outline of what the discussion should have been. there's no reason why we here in congress have not done an open rule hen anne had a debate on this. we could easily have taken this

0:38:45 to 0:38:57( Edit History Discussion )

Zoe Lofgren: measure, debated it openly, amended it, adjusted it and done things that make sense. the pr oblem as i see theee bailout and the gentlelady and i have talked about it at some length, is that it pumps

0:38:45 to 0:40:55( Edit History Discussion )
Speech By: Zoe Lofgren

0:38:57 to 0:39:08( Edit History Discussion )

Zoe Lofgren: liquidity intoit banks and takes paper. that paper we hope is good. we hope it will be more valuable than the -- what we spend on it. ms. lofgren: i wonder. i did yield. we have other speakers.

0:39:08 to 0:39:19( Edit History Discussion )

Zoe Lofgren: i wonder if -- we can have this further discussion but whether on the mortgage -- primary p residence mortgage issue you think there is further opportunity to make progress between

0:39:19 to 0:39:35( Edit History Discussion )

Zoe Lofgren: republicans andca democrats, conservatives and nonconservatives? mr. cannon: i thank the gentlelady. we have plenty of time on my side if the gentlelady would like to yield back temporarily.

0:39:35 to 0:39:49( Edit History Discussion )

Zoe Lofgren: i would be happy to use my time to talk about that point. ms. lofgren: i will do so because i don't want to take advantage of the chairman's yielding me unlimited time when there are other

0:39:49 to 0:40:01( Edit History Discussion )

Zoe Lofgren: speakers. but i would just say that in the discussions that we have had that have been very honest and very practical and i think totally bipartisan. i would even say nonpartisan trying

0:40:01 to 0:40:14( Edit History Discussion )

Zoe Lofgren: to find common ground in the interests of the american people on this. i have a sense ever optimism that we can do something important on the mortgage bankruptcy issue aside from this recovery

0:40:14 to 0:40:26( Edit History Discussion )

Zoe Lofgren: package that is coming. and having said that, i will yield back to the chairman of the committee and perhaps mr. cannon will use some of his time to further explore this. the speaker pro tempore:

0:40:26 to 0:40:42( Edit History Discussion )

Zoe Lofgren: the gentleman from utah. mr. cannon: thank you, mr. speaker. i thank the gentlelady. if she wishes to remn perhaps we can have a colloquy at some point. let me make a couple of points. we

0:40:42 to 0:40:55( Edit History Discussion )

Zoe Lofgren: have had a long and intense discussion about what we can do to help solve not the problem of the banks with their toxic loans, which we hope we'll buy at a reasonable price in a reverse aucti,

0:40:55 to 0:41:16( Edit History Discussion )

Chris Cannon: but what we do on the other side of this problem which is homeowners who can't afford the loans that they got on property that was often misappraised or appraised fraudulently and left in a box

0:40:55 to 0:43:10( Edit History Discussion )
Speech By: Chris Cannon