Video archive of the US Congress

Senate Proceeding 01-21-09 on Jan 21st, 2009 :: 0:40:05 to 0:43:05
Total video length: 4 hours 44 minutes Stream Tools: Stream Overview | Edit Time

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Bob Corker

0:39:59 to 0:40:20( Edit History Discussion )

Bob Corker: point, again, where we are going to have fewer and fewer resources available to deal with that. the united kingdom just recently realized the policies they were putting i currency to devalue rapidly. and i realize we're not there yet today as a country, but, mr. president, i hope what we

Bob Corker

0:40:05 to 0:43:05( Edit History Discussion )
Speech By: Bob Corker

Bob Corker

0:40:21 to 0:40:42( Edit History Discussion )

Bob Corker: will do as a body and as a country is to tell the american people that we realize that many of our financial institutions are insolvent, we realize the problem could be trillions of dollars and until that issue is dealt with in a serious and real way,

Bob Corker

0:40:43 to 0:41:03( Edit History Discussion )

Bob Corker: then anything else we do for the economy is for nawtd. it takes -- for the economy is naught. it takes a functioning financial system. for every small business, for every barber shop, beauty salon, for every large business, for all of us to get our payroll checks processed, it takes that for this economy to function, in order for our financial markets to stabilize.

Bob Corker

0:41:04 to 0:41:27( Edit History Discussion )

Bob Corker: we have got to deal with the issue of housing, which we have not yet done. and it is my hope that this body will take this serious business underway. i have to say in deference to the chairman on the floor talking about our new secretary of state, i listened to his comments today in finance

Bob Corker

0:41:30 to 0:41:50( Edit History Discussion )

Bob Corker: committee and i thought his comments were dead o. i know he referred to some editorials that were written over the weekend that said exactly the kinds of things that we're talking with right now. mr. president, i talk to people, investors on wall street who are involved in these institutions in major ways. they know they are insolvent.

Bob Corker

0:41:51 to 0:42:11( Edit History Discussion )

Bob Corker: they know that we're just pushing this down the road. and, mr. president, i think we owe this to these young people up front whose last day is tomorrow, we owe this to americans across this country that depend upon to us duma tour and --

Bob Corker

0:42:12 to 0:42:34( Edit History Discussion )

Bob Corker: to dum do mature and adult-like ways. we owe it to the country to face up to the reality of these major losses, these major insolvencies, its effect on the economy for years to come and do something about that first before we deal with things that will possibly stimulate economies if, in fact, you actually had a functioning financial system.

Bob Corker

0:42:35 to 0:42:56( Edit History Discussion )

Bob Corker: we all know of small businesses all across this country that are being denied loans. we know of businesses that actually are doing the things but banks are calling letters of credit and other things because they want the money in so they can, again, meter out the losses. so, mr. president, i thank you for allowing me to speak as if i'm in morning business i know we have important

Bob Corker

0:42:57 to 0:43:05( Edit History Discussion )

Bob Corker: business at hand. i look forward to supporting secretary of state-designate, secretary clinton, later today.

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