Video archive of the US Congress

House Proceeding 12-10-09 on Dec 10th, 2009 :: 2:33:55 to 2:36:05
Total video length: 3 hours 30 minutes Stream Tools: Stream Overview | Edit Time

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Rosa L. DeLauro

2:33:53 to 2:34:15( Edit History Discussion )

Rosa L. DeLauro: cftc can stop and catch the mall factors. -- the malefactors. i urge my colleagues to vote against this amendment and reserve the balance of my time. the chair: the gentleman massachusetts is recognized. mr. stupak: i yield two minutes

Rosa L. DeLauro

2:33:55 to 2:36:05( Edit History Discussion )
Speech By: Rosa L. DeLauro

Rosa L. DeLauro

2:34:16 to 2:34:37( Edit History Discussion )

Rosa L. DeLauro: to my colleague, ms. delauro. the chair: the gentlewoman is recognized. ms. delauro: i'm pleased to join my colleagues in suppor of this amendment. it grants the cftc and the s.e.c. the authority to prohibit spific swaps, including the abuse of naked credit default swaps that distorted the derivatives market. it's now a bona fid

Rosa L. DeLauro

2:34:38 to 2:34:59( Edit History Discussion )

Rosa L. DeLauro: exemption in the bill to prevent loopholes that might allow major financial players to evade the requirements of the bill, while ensuring that legitimate end users still have access to this financial tool. it ensures that no illegal swap transaction will remain a valid contract in a court of law. we should not countenance

Rosa L. DeLauro

2:35:00 to 2:35:20( Edit History Discussion )

Rosa L. DeLauro: predatory behavior in any way. we should make sure market players are not financially benefiting from the abusive and corrupt practices that helped initiate this debilitating rere-session. companies took bets that others would fail without facing any risk thems in the case of default. other institutions took those bets even though they could not

Rosa L. DeLauro

2:35:21 to 2:35:41( Edit History Discussion )

Rosa L. DeLauro: pay out if the unthinkable happened -- happened. it was a casino culture where traders played with taxpayers' dollars and made sure they won either way. always at the expense of and when the defaults started to mown up, the whole house of cards came tumbling down. why did the credit default swap

Rosa L. DeLauro

2:35:42 to 2:36:04( Edit History Discussion )

Rosa L. DeLauro: , once just a financial tool to hedge risks, become province of rampant and reckless speculation? because they remained unregulated. this is a good step toward repairing this oversight. we need to do more. taken together, the changes in this amendment will strengthen regulation over these once useful financial tools and will

Rosa L. DeLauro

2:36:05 to 2:36:05( Edit History Discussion )

Rosa L. DeLauro: help ensure the entire nation

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