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House Proceeding 12-10-09 on Dec 10th, 2009 :: 0:55:25 to 0:58:45
Total video length: 1 hours 14 minutes Stream Tools: Stream Overview | Edit Time

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Edward R. Royce

0:55:21 to 0:55:42( Edit History Discussion )

Edward R. Royce: do? they want to do the same thing they did when they were in year, that is, nothing. madam chair, i yield back the balance of my time. the speaker pro gentleman's time has expired. the gentleman from texas. mr. sessions: thank you very i'd like to yield to the

Edward R. Royce

0:55:25 to 0:58:45( Edit History Discussion )
Speech By: Edward R. Royce

Edward R. Royce

0:55:43 to 0:56:03( Edit History Discussion )

Edward R. Royce: gentleman from fullerton, california, the gentleman, mr. royce, the distinguished gentleman from california, for three minutes. the speaker pro tempore: the gentleman is recognized for three minutes. mr. royce: i'd like to make a point here, the democrats have been in control of this institution, the house and senate, back in november of 2006, the republicans lost

Edward R. Royce

0:56:04 to 0:56:24( Edit History Discussion )

Edward R. Royce: control of the house and senate system of for 2007 and 2008 and 2009 the democrats have controlled this process. every spending bill originates in this house. and under that democratic leadership in this house, we have watched the unemployment rate more than double for the

Edward R. Royce

0:56:25 to 0:56:45( Edit History Discussion )

Edward R. Royce: american public. and as far as those of us attempting to do something about the cook may mi schemes put forward years ago in 1992, in which we gave fannie mae and freddie mac and this congress, and it was under democratic leadership that this was done,

Edward R. Royce

0:56:46 to 0:57:07( Edit History Discussion )

Edward R. Royce: we gave them the ability to go out there and participate in ar by tradge at 10 -- in arbitrage at -- when you put that 10% down payment, when you say that 50% of

Edward R. Royce

0:57:08 to 0:57:29( Edit History Discussion )

Edward R. Royce: yow be in subprime. when we see those results today. but let me eak to another issue. the opposition to this bill. i voted against the bailos, and regardless of what you call it, this is an extension of of of bailout and while the new language regarding the state laws represents a step in the

Edward R. Royce

0:57:30 to 0:57:50( Edit History Discussion )

Edward R. Royce: right direction, i believe it is far from sufficient and should be improve. there are aspects of the pre-emption standard for which pre-emption digs need to be clarified. in addition -- decisions need to be collar fid. -- clarified. these provisions are an unnecessary extension of state

Edward R. Royce

0:57:51 to 0:58:11( Edit History Discussion )

Edward R. Royce: jurisdiction over federally chartered institutions that are already subject to federal oversight, potential new liabilities and uncertainties and go far beyond the standards recognized in the recent supreme court decision in the quo moe case. i raise this issue because as it's currently written, the

Edward R. Royce

0:58:12 to 0:58:33( Edit History Discussion )

Edward R. Royce: underlying legislation will move us in the ong direction in terms of federal preemption. they threw out the articles of confederation and introduced the market. not a market where local governments could strangle free trade among the states.

Edward R. Royce

0:58:34 to 0:58:46( Edit History Discussion )

Edward R. Royce: we have seen the inconsistencies of the regulatory frame wrk with the insurance market, where it is inefficient, anti-competitive, and fails to provide adequate consume brother texts. if we are looking for the most

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