Video archive of the US Congress

Senate Proceeding on May 12th, 2010 :: 1:02:40 to 1:04:05
Total video length: 10 hours 56 minutes Stream Tools: Stream Overview | Edit Time

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Bob Corker

1:02:39 to 1:02:59( Edit History Discussion )

Bob Corker: mr. dodd: senate's not in order. the presiding officer: the senator is correct. the senate is not in order. the senator from tennessee is recogned. mr. corker: mr. president, i think everybody in this body knows that the core of this last financial kraoeufgs was there were -- crisis was there were a lot of loans written in this country people couldn't pay back.

Bob Corker

1:02:40 to 1:04:05( Edit History Discussion )
Speech By: Bob Corker

Bob Corker

1:03:00 to 1:03:20( Edit History Discussion )

Bob Corker: the dodd bill deals with a lot of things, but it doesn't deal with that basic core issue of loan underwriting. this is an opportunity for people on both sides of the aisle that is a commonsense amendment that requires a 5% down payment, fully documented credit income including credit history and employment history, which i think all of us would like to see and a method of

Bob Corker

1:03:21 to 1:03:41( Edit History Discussion )

Bob Corker: determining borrower's ability to repay, put in place by bank regulators -- this -- mr. dodd: the senator cannot be heard. i can't hear. the presiding officer: the senate will com to order. mr. corker: -- this commonsense amendment which should be supported by both sides of the aisle excludes, gives the ability for habitat, for enterprise, those

Bob Corker

1:03:42 to 1:04:03( Edit History Discussion )

Bob Corker: organizations that use sweat equity to be excluded. this is something we all know needs to be common practice. let's put it into law and let's ensure that another fancial crisis doesn't come on the backs of homeowners who borrow money, by the way, irresponsibly and we enable them to do it. let's vote something that

Bob Corker

1:04:04 to 1:04:06( Edit History Discussion )

Bob Corker: ensures that common sense is in place in loan underwriting.

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