Video archive of the US Congress

Senate Proceeding 05-05-09 on May 5th, 2009 :: 1:58:20 to 2:00:30
Total video length: 5 hours 20 minutes Stream Tools: Stream Overview | Edit Time

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Jim DeMint

1:58:20 to 1:58:42( Edit History Discussion )

Jim DeMint: we're going to have a firewall between where you are now and where you want to folks, we can't let them go any further. we've lost the line between government and the private sector. the government's not set up to manage things a control things. everything we try to do we mess up.

Jim DeMint

1:58:20 to 2:00:30( Edit History Discussion )
Speech By: Jim DeMint

Jim DeMint

1:58:43 to 1:59:03( Edit History Discussion )

Jim DeMint: what we're here for is to develop a framework of law and predictable regulations so that free marks and free people can operate. we're not set up to manage auto companies. i was in a meeting this morning talking about how we were going to manage general motors, chrysler, and i have been in a lot of boardrooms because i have

Jim DeMint

1:59:04 to 1:59:24( Edit History Discussion )

Jim DeMint: done a lot of strategic planning for companies in my lifetime. it is so obvious we do not have e capability to manage a dynamic, complex, global marketplace. that's central planning. that's what karl marx thought we could do but every time it has been tried in the history of the world it has failed because

Jim DeMint

1:59:25 to 1:59:46( Edit History Discussion )

Jim DeMint: there is no way that a legislative body in a large national government like this can manage the private sector. what happens, though, is we get involved. we make things worse. and then we say we need more government to solve the problem. we're doing that now with a.i.g., the largest insurance company in the country.

Jim DeMint

1:59:47 to 2:00:07( Edit History Discussion )

Jim DeMint: we've gotten in, we own most of the stock, mismanagement is rampant and we're talking about we need more money. folks, it doesn't work. i just encourage my colleagues to consider what i think we're hearing from all enough is enough.

Jim DeMint

2:00:08 to 2:00:28( Edit History Discussion )

Jim DeMint: we can't do this under the guise of one crisis after another. let's stop this federal government into our private lives, the free markets, the whole concept of america. please support this amendment that would stop the conversion of loans, tarp money, into

Jim DeMint

2:00:29 to 2:00:30( Edit History Discussion )

Jim DeMint: common stock. it's a simple concept.

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