Video archive of the US Congress

Senate Proceeding on Jan 15th, 2009 :: 4:23:30 to 4:27:55
Total video length: 8 hours 59 minutes Stream Tools: Stream Overview | Edit Time

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Bob Corker

4:23:30 to 4:23:50( Edit History Discussion )

Bob Corker: objection. mr. coburn: we have before us today a hallmark piece of legislation that is supposed to be about credit and liquidity and the significant problems we ran into this last fall in this

Bob Corker

4:23:30 to 4:27:55( Edit History Discussion )
Speech By: Bob Corker

Bob Corker

4:23:51 to 4:24:13( Edit History Discussion )

Bob Corker: country when we no longer had a functioning or barely had a functioning financial industry that allowed credit to flow which would allow ensue. it was my belief at the time based on what i was told and

Bob Corker

4:24:14 to 4:24:34( Edit History Discussion )

Bob Corker: what i saw that extraordinary measures were going to be required for us to handle this significant problem. consequently, i end for a financial recovery package that i must say has been handled

Bob Corker

4:24:35 to 4:24:55( Edit History Discussion )

Bob Corker: in a way completely opposite of the way we were told it was going to be handle that is now water under the bridge. the question today before us, are we going to give another 50 billion not through an oversight process, not through an appropriating process, but

Bob Corker

4:24:56 to 4:25:17( Edit History Discussion )

Bob Corker: are we going to check to the treasury department to accomplish, again, what we are assured by the transition time and the incoming administration is for specific and i would like that. as a matter of fact, in the meeting yesterday with some of the officials of

Bob Corker

4:25:18 to 4:25:40( Edit History Discussion )

Bob Corker: administration, i asked that, in a closed room where you are giving this reassurance thayou are not going to put more money in the auto strebl under the pretext -- industry under the pretext it has been done, and in other industrial segments of the society but you will use the

Bob Corker

4:25:41 to 4:26:05( Edit History Discussion )

Bob Corker: money only when and when it is necessary to keep bank balance sheets to accomplish to what we knewed to have true commerce in this country. and i must say i felt somewhat reassured walking out of that meeting but one of the asked for was a public statement so that the rest of america could have that same assurance.

Bob Corker

4:26:06 to 4:26:27( Edit History Discussion )

Bob Corker: and now we fiewp -- find ourselves today getting ready to vote on that and that was communicated very directly, by the way, with the highest levels of the incoming administration, and we' and yet we have seen no public statement, whatever, that would assure members of this body or the american taxpayers that to bail out companies

Bob Corker

4:26:28 to 4:26:49( Edit History Discussion )

Bob Corker: not competive and have not had to do the hard things to maintain themselves to be competitive and we don't have ashuns that we won't, in fact, go to other industrieand do the same thing. an we don't have the fact expressed publicly in a letter of intent from t administration -- the incoming administration -- that they're

Bob Corker

4:26:50 to 4:27:11( Edit History Discussion )

Bob Corker: going to use it in a very precise manner to maintain liquidity of the financial sector. the other thing that we have not heard, along with maintaining that liquid quit is how do you handle the toxic assets which is what we were toll theoney was

Bob Corker

4:27:12 to 4:27:32( Edit History Discussion )

Bob Corker: for in the -- told the money w for in the first place. i come to the floor wanting to support our new president. i want to support him. i've talked to him about this issue prior coming and talking to us. but i fine myself in the

Bob Corker

4:27:33 to 4:27:54( Edit History Discussion )

Bob Corker: predicament, i've been once by this present administration. they didn't do what they said they were going to do. they haven't been transparent with how the money has been spent. the american people haven't had access. we dents though the priorities under -- we don't know the priorities which it was done and?? now we are asked us again "just trust us." well, i'm willing to d

Bob Corker

4:27:55 to 4:27:55( Edit History Discussion )

Bob Corker: provided you putut to the

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