Video archive of the US Congress

Senate Proceeding on May 6th, 2010 :: 5:26:15 to 5:27:14
Total video length: 9 hours 44 minutes Stream Tools: Stream Overview | Edit Time

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Bob Corker

5:26:00 to 5:26:20( Edit History Discussion )

Bob Corker: standards, the consumer people were arguing for underwriting standards. it was the safety and soundness regulators that were refusing to acowledge that we didn't have underwriting standards or refusing to acknowledge that we had to do something about so i just?p wanted to commend my colleague. mr. menendez: if i may, i ask my distinguished chairman to yield a moment, you're absolutely right.

Bob Corker

5:26:15 to 5:27:14( Edit History Discussion )
Speech By: Bob Corker

Bob Corker

5:26:21 to 5:26:41( Edit History Discussion )

Bob Corker: as a matter of fact, when i made that comment we were going to have a tsunami of foreclosures, the administration witnesses at the time, previous administration, of course, said that with all due respect that's an exaggeration. i wish they had been right and we had been wrong. but i think that the chairman hits it right on the point. in the context of the rating agencies, they were playing

Bob Corker

5:26:42 to 5:27:02( Edit History Discussion )

Bob Corker: coach and refer. well, when you're playing coach and refer, -- and referee, somehow the game doesn't work out quite that well. i appreciate what you have done in that respect here as well. i think the chairman makes the case very cloarl that the definition of insanity is doing the same thing time and time again and expecting a different result. if we want to see exactly what's

Bob Corker

5:27:03 to 5:27:15( Edit History Discussion )

Bob Corker: happened to the american consumer in this country continue to face the same consequences they have passed over the last couple of years, then we adopt this amendment, but if we want to change that,

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