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Senate Proceeding on Apr 26th, 2010 :: 0:42:30 to 0:57:05
Total video length: 7 hours 3 minutes Stream Tools: Stream Overview | Edit Time

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Lamar Alexander

0:42:28 to 0:42:50( Edit History Discussion )

Lamar Alexander: protect, educate and empower consumers and investors. thank a senator: mr. president? the presiding officer: the senator from tennessee. mr. alexander: mr. president, i ask to speak as if in morning business. the presiding officer: we are

Lamar Alexander

0:42:30 to 0:57:05( Edit History Discussion )
Speech By: Lamar Alexander

Lamar Alexander

0:42:51 to 0:43:11( Edit History Discussion )

Lamar Alexander: the senator is recognized. mr. alexander: so i can actually speak in morning business, not as if i were in morning business. mr. president, thank you very much. mr. president, we'll be voting at 5:00 this afternoon on a motion by the majority leader, and i can almost hear him now

Lamar Alexander

0:43:12 to 0:43:32( Edit History Discussion )

Lamar Alexander: saying something about t party of no as we talk about the financial regulation bill. i would say to my friend, the majority leader, that he's rapidly becoming the leader of the "party of no" by offering so many "no" motions becausehe motion this afternoon is one more of a record number of "no"

Lamar Alexander

0:43:33 to 0:43:53( Edit History Discussion )

Lamar Alexander: motions offered by the majority leader to say no to more amendments, no to more debate, and no to checks and balances on a runaway government in washington. what we on the republican side have been trying to do on the financial regulation bill is to work with the majority party and with the president to help

Lamar Alexander

0:43:54 to 0:44:14( Edit History Discussion )

Lamar Alexander: fashion a set of rules and regulations that takes us from the financial crisis that we had a few years ago and which continues today in the lives of americans everywhere to complete a bill that most of us can support so thawe can say to america and say to the world these are our rules and regulations. we've done our job.

Lamar Alexander

0:44:15 to 0:44:35( Edit History Discussion )

Lamar Alexander: we've set the rules. even if republicans capture control of the congress in november, which we hope we do, these still will be the rules because we did this in a bipartisan way, the kind of way that the president talked about when h campaigned for election a couple of years ago. mr. president, unfortunately, that's not what's been

Lamar Alexander

0:44:36 to 0:44:56( Edit History Discussion )

Lamar Alexander: happening. it's just been one "no" motion after another from the majority leader, a record number of them. and he will even bring that up, which i wouldn't -- i would respectfully say i wouldn't do. 26 times the majority leader has

Lamar Alexander

0:44:57 to 0:45:17( Edit History Discussion )

Lamar Alexander: filled the amendment tree. that's just a no motion that says no more amendments. he's done it nearly as much as the last five majority leaders combined. he's got the record in saying no to more amendments, no to more debates, and no to more checks and balances on what the

Lamar Alexander

0:45:18 to 0:45:38( Edit History Discussion )

Lamar Alexander: congress is doing. 141 times the majority leader has day a bill came up. that's simply another no motion. it says no to more amendments, no to more debates, no to more checks and balances on the ltion

Lamar Alexander

0:45:39 to 0:46:00( Edit History Discussion )

Lamar Alexander: that congress is legislation that congress is considering. some may ask, well, let's get on with it. why do we need these checks and balances. mr. president, we were reminded over the weekend of why we need the ccks and balances. all of us remember the hc debate result -- health care debate resulting in the health care law.

Lamar Alexander

0:46:01 to 0:46:21( Edit History Discussion )

Lamar Alexander: passed the chamber by one vote. we were here day after day. the vote came up during a snowstorm, 1:00 a.m. in the morning, had to be done during christmas, nearly 1,000 pages before it all got through. no checks and balances on that bill. we said, slow down. wait a minute.

Lamar Alexander

0:46:22 to 0:46:42( Edit History Discussion )

Lamar Alexander: it's expanding a health care delivery system that we all all know that we can't afford when we should reduce its costs so that more americans can afford to buy health insurance. over the weekend a report issued on thursday by the chief actuary

Lamar Alexander

0:46:43 to 0:47:03( Edit History Discussion )

Lamar Alexander: of the center for medical -- medicare services. he is the chief actuary. this is the first neutral analysis of the new health care law. lo and behold, what did he stay in his analysis showed that it will increase health care costs instead of lowering them. in other words, we will increase -- we will increase

Lamar Alexander

0:47:04 to 0:47:24( Edit History Discussion )

Lamar Alexander: spending on a health care delivery system that we all know we can't afford today, yet, off we went with our new trillion dollar bill. it will raise premiums on health care. it will threaten seniors access to health care, it will create,

Lamar Alexander

0:47:25 to 0:47:45( Edit History Discussion )

Lamar Alexander: in effect, a health care bridge to nowhere for a great number of low-income americans who will find that they can't get a doctor or in washington state that walgreens won't fill their prescription. this will make that problem worse. and to those who are going to be serving as governor between

Lamar Alexander

0:47:46 to 0:48:08( Edit History Discussion )

Lamar Alexander: 2014-2019, it's very bad news. because it talks about the increased cost of medicaid, which is the largest government health care program and many of those costs are passed on to states. i know in our state, our legislatur republican, and our governor, democrat, has said, we don't see how we can afford this.

Lamar Alexander

0:48:09 to 0:48:30( Edit History Discussion )

Lamar Alexander: it is $1.1 billion to $1.5 billion. it will call tax increases and tuition increases at the the universities and i think it will seriously damage public education. anyone can read this for himself or herself. but over the weekend the chief actuary of the federal government said, the health care law does what we republicans feared it would but the

Lamar Alexander

0:48:31 to 0:48:53( Edit History Discussion )

Lamar Alexander: psychology was on the other side of the aisle, we won the election, we'll write the bill, we'll pass it even by its one vote, unlike civil rights, unlike medicare, unlike medicaid, unlike social security, it was a purely partisan bill with no checks and balances, and the american people see the results. now here we go again thp

Lamar Alexander

0:48:54 to 0:49:14( Edit History Discussion )

Lamar Alexander: afternoon at 5 -- again at this afternoon at 5:00. this should be a different situation. it's a very important bill. it's the financial regulation of this country. this country produce 25% of all the money in the world every year. 25% of the welt is created by this country for those who are privileged to live here. one would think that we would be

Lamar Alexander

0:49:15 to 0:49:35( Edit History Discussion )

Lamar Alexander: as careful as we could in getting this done. for a long time on this bill many members of the senate on both sides of the aisle have been working on it carefulfully and in a bipartisan way. -- carefully and in a bipartisan way. so why would we bring another one of these record-setting no motions up today to vote on? why would we say in the middle of debate and discussion to

Lamar Alexander

0:49:36 to 0:49:57( Edit History Discussion )

Lamar Alexander: improve the bill, let's rush it on through, no to more amendments, no to more debate, no to more checks and balances? there's some pretty big issues toesolve here to make sure we've got right. there's general agreement across both sides of the aisle that we want a situation where we don't have these big banks that are

Lamar Alexander

0:49:58 to 0:50:18( Edit History Discussion )

Lamar Alexander: too big to fail. now, the senator from who's the presiding officer today, and my colleague, senator corker from tennessee, worked for a year on this. i went to some of their sessions. it's complex stuff. but they were coming up with a partisan solution to the problem and one of the advantages to a bipartisan

Lamar Alexander

0:50:19 to 0:50:40( Edit History Discussion )

Lamar Alexander: solution is, a, it might be more likely to be right an, b, it almost certainly likely to be accepted. if there is a corker-warner or warner-corkerolution, you republican-democrat solution on banks too big to fail, the american people might look up here and say, if they both agree on it, maybe i won't worry about

Lamar Alexander

0:50:41 to 0:51:01( Edit History Discussion )

Lamar Alexander: it and maybe i won't spend the next three years repeal it. the same thing is true on other parts of the issue. i c starting out in that direction. he was working with senator shelby on this side on consolidating bank regulators and consumer protection. senator reid on the democratic side and senator gregg working

Lamar Alexander

0:51:02 to 0:51:22( Edit History Discussion )

Lamar Alexander: on derivatives. senator warner and corker on systematic risk, the too big to fail issue, senator schumer and crapo working on security exchange issues and corporate governance issues. they weren't coming to an agreement on every single one of these issues. the last one is an especially difficult one. but they're making real progress.

Lamar Alexander

0:51:23 to 0:51:45( Edit History Discussion )

Lamar Alexander: yesterday, senator shelby who is the ranking member, and senator dodd said on nbc's "meet the press," --"we're closer than we've ever been." mr. dodd added, we're closer than wve been. if we're closer, why are we saying no to more amendments, no

Lamar Alexander

0:51:46 to 0:52:07( Edit History Discussion )

Lamar Alexander: to more debate, no to checks and balances? that's a serious question for the american pple because if i were to suppose that what -- in my state the major issue before the -- before the people of tennesse is today, is that many independents, almost every republican and some democrats would say we need balances on a runaway washington government.

Lamar Alexander

0:52:08 to 0:52:28( Edit History Discussion )

Lamar Alexander: here's an opportunity to have checks and balances on a runaway washington government and to get things right. instead we seem to have a campaign team at the white house that says, let's play a little politics here and make it look like the republicans are in bed with wall street bankers. they even -- they said republicans took contributions from wall street bankers.

Lamar Alexander

0:52:29 to 0:52:49( Edit History Discussion )

Lamar Alexander: when the newspapers added it all up, it looked like the democrats got more contributions from the wall street bankers than the republican did. the race is about politics and who took the most money from the wall street bankers, the demoats win that is not the basis to decide upon this. i liked the way the committee

Lamar Alexander

0:52:50 to 0:53:10( Edit History Discussion )

Lamar Alexander: was working on this for the lt year, republican and democrat teams working to solve big, complex problems for the country that produces 25% of all of the money in the world and the knowledged financial capital of the world. instead we seem to have a faction of the administration that says, we won the election, we'll write the bill an up comes the majority leader with another

Lamar Alexander

0:53:11 to 0:53:32( Edit History Discussion )

Lamar Alexander: no motion. a historic number of no motions. so, mr. president, i'm here today simply to say this, this is a piece of ltion that presents president obama -- legislation that presents president obama and our congress with a historic opportunity to

Lamar Alexander

0:53:33 to 0:53:53( Edit History Discussion )

Lamar Alexander: do something right. we're coming out, we hope, of a great recession. we need some signals to our country and really to the world that sings things are stablizing. every small business person or big business person i talked with says a little certainty would help. we're not going to hire another person, we're not going to

Lamar Alexander

0:53:54 to 0:54:14( Edit History Discussion )

Lamar Alexander: invest another dollar until we get a little more certainty in the business environment in america. and people are waiting to see how we're going to deal with this too-big-to-fail issue. are we going to put up rules that will give big banks an advantage over community banks? are we going to put in regulation that's are so

Lamar Alexander

0:54:15 to 0:54:35( Edit History Discussion )

Lamar Alexander: cumbersome that they move financial capital of america from new york city to washington, d.c., or even to london and singapore and shanghailong with the prestige and the opportunity of an increased standard of live that goes with it? we have within our grasp an opportunity to do as senator

Lamar Alexander

0:54:36 to 0:54:56( Edit History Discussion )

Lamar Alexander: shelby and senator dodd said. we're close to getting it together. we think we'll get together. and if we were to get it together and relie upon the work of senator warner and senator corker and the others that i mentioned, to work together over the last year and stand together with the president and let him say, republicans and democrats have been working more than a year on this.

Lamar Alexander

0:54:57 to 0:55:18( Edit History Discussion )

Lamar Alexander: we have taken enough time to develop a consensus in the united states senate, a consensut this is the right thing to do for our country. we want to tell the american people that these are the rules forl financial regulation. and tell -- for financial regulation. and tell the world that the united states of america is capable of governing itself an

Lamar Alexander

0:55:19 to 0:55:40( Edit History Discussion )

Lamar Alexander: writing its rules and doing in a bipartisan way. think of the signal that would send to this country and to the world. it might be a tipping point in the recovery from the great recession. that kind of signal from washington, d.c. i can't think of a better one. yet, the vote today is just the opposite.

Lamar Alexander

0:55:41 to 0:56:01( Edit History Discussion )

Lamar Alexander: it's another no motion debate no, to amendment, no to working together, no to checks an balances. i hope that we prevail on this motion. i hope that we will say yes to more amendments, yes to more debates and yes to checks an balances. i hope that the result is a regulation bill affecting this country that all of us can vote

Lamar Alexander

0:56:02 to 0:56:22( Edit History Discussion )

Lamar Alexander: for or at least most of us can vote for that we can proudly give each other credit for. that's the way we like to work. that's why we came to the senate. and when the country see that's, they'll have more confidence in in us, in this government in this economy and the world will too and we'll have taken an important step forward. and the president will be able

Lamar Alexander

0:56:23 to 0:56:46( Edit History Discussion )

Lamar Alexander: to say, look, this is the way i wanted do it all along this is what i campaigned on and i'm glad that we worked together to get 70 or 80 votes in states senate to get a consensus on a financial regulation bill to get this country moving again. mr floor. e presiding officer: the clerk

Lamar Alexander

0:56:53 to 0:56:58( Edit History Discussion )

Lamar Alexander: will call the roll.

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