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Video archive of the US Congress

Senate Proceeding 01-21-09 on Jan 21st, 2009 :: 0:36:00 to 0:37:15
Total video length: 4 hours 44 minutes Stream Tools: Stream Overview | Edit Time

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Bob Corker

0:35:42 to 0:36:05( Edit History Discussion )

Bob Corker: and i think we are potentially doing that without addressing the real issue, which are the credit markets here in our country. i know that over theast six months, we have wrestled with ways of dealing with the credit markets in our country. but, mr. president, i want to tell you that it's my belief that boards of banks throughout

Bob Corker

0:36:00 to 0:37:15( Edit History Discussion )
Speech By: Bob Corker

Bob Corker

0:36:06 to 0:36:29( Edit History Discussion )

Bob Corker: our country are in boardrooms today and are in conversations throughout the country talking about the fact that their banks are actually insolvent, they know that they are insolvent but because of way -- the way gap financing accrues to banks who make whole loans, they're able

Bob Corker

0:36:30 to 0:36:50( Edit History Discussion )

Bob Corker: to actually out over quarters into the future knowing today that they are insolvent. what we have done through tarp funding is put money through capital injection into these banks. in their intelligent self-interest, they have hoarded that money because they know they have losses coming in the future that cause it -- that would cause their banks to be

Bob Corker

0:36:51 to 0:37:12( Edit History Discussion )

Bob Corker: insolvent if they recognized those losses today. mr. present, what concerns me is our country is quickly getting to the point where our limited -- where our resources are limited more than they've ever been in the past, where we're borrowing huge amounts of money. and certainly we've been doing that for some time. and we're getting to a point in

Bob Corker

0:37:13 to 0:37:16( Edit History Discussion )

Bob Corker: time where there's not a lot of power left for to us solve problems.

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