Metavid

Video archive of the US Congress

Senate Proceeding 09-26-08 on Sep 26th, 2008 :: 0:35:17 to 0:44:37
Total video length: 1 hours 27 minutes Stream Tools: Stream Overview | Edit Time

Note: MetaVid video transcripts may contain inaccuracies, help us build a more perfect archive

Download OptionsEmbed Video

Views:328 Duration: 0:09:20 Discussion

Previous speech:

0:35:01 to 0:35:17( Edit History Discussion )

at least make sure that our most seriously dangerous bridges are repaired and maintained is a start. that's why i'm asking my colleagues on the other side of the aisle not to block this bill, not to add

Sheldon Whitehouse

0:35:17 to 0:35:30( Edit History Discussion )

Sheldon Whitehouse: a bunch of amendments that have not gone through the committee because we're in the waning days of the session, and we only have the house bill now because that's the easiest vehicle to use, even though

Sheldon Whitehouse

0:35:17 to 0:44:37( Edit History Discussion )
Speech By: Sheldon Whitehouse

Sheldon Whitehouse

0:35:30 to 0:35:47( Edit History Discussion )

Sheldon Whitehouse: the senate bill was exactly the same. we're using the house bill because then we won't have to have a conference committee because we just want to get this done. i'm hopeful this will get us headed

Sheldon Whitehouse

0:35:47 to 0:36:04( Edit History Discussion )

Sheldon Whitehouse: toward action. as we learned that day, that august 1 day in minnesota, we just can't afford to wait anymore. we have to get this done. thank you very much, mr. president. i yield the floor and i note

Sheldon Whitehouse

0:36:04 to 0:36:21( Edit History Discussion )

Sheldon Whitehouse: the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: the presiding officer: the senator from iowa. mr. grassley: i ask that the calling of the quorum be suspended.

Sheldon Whitehouse

0:36:21 to 0:36:35( Edit History Discussion )

Sheldon Whitehouse: the presiding officer: without objection. mr. grassley: mr. president, two years ago i started conduct ing oversight of the securities and exchange commission. i did it only in response to a whistle-blower

Sheldon Whitehouse

0:36:35 to 0:36:48( Edit History Discussion )

Sheldon Whitehouse: who came to my office complaining that the securities and exchange commission securities and exchange commission's supervisors were puing their punches in their investigation of major hedge funds.

Sheldon Whitehouse

0:36:48 to 0:37:03( Edit History Discussion )

Sheldon Whitehouse: nearly a year and a half ago, came to this floor to introduce an important piece of legislation based on what i learned from my oversight six months before that. the bill was aimed at closing a loophole

Sheldon Whitehouse

0:37:03 to 0:37:17( Edit History Discussion )

Sheldon Whitehouse: in our security laws. now, in light of all the discussion going on about the problems of our financial market s and wall street and very unusual weekend session we're having, as people are attempting

Sheldon Whitehouse

0:37:17 to 0:37:34( Edit History Discussion )

Sheldon Whitehouse: to work compromises to help on wall street, i think in light of all this current instability of our financial system, i think it's critical that senators take another look at this bill that i introduced.

Sheldon Whitehouse

0:37:34 to 0:37:48( Edit History Discussion )

Sheldon Whitehouse: it is s. 1402, throwfd, i want to remind you, a year and a half asmg not just because it's become clear that we've got a lot of financial problems up on wall street. it is called s. 1402, "the

Sheldon Whitehouse

0:37:48 to 0:37:58( Edit History Discussion )

Sheldon Whitehouse: hedge fund registration act." it is pretty simple. it is only two pages long. all it does is clarify that the securities and exchange commission has the authority to require hedge funds to register,

Sheldon Whitehouse

0:37:58 to 0:38:09( Edit History Discussion )

Sheldon Whitehouse: so the government knows who they are and what they're doing. in other words, a little transparency -- a little transparency that seems to be lacking in our ability to quantify the instruments that

Sheldon Whitehouse

0:38:09 to 0:38:22( Edit History Discussion )

Sheldon Whitehouse: are securitized mortgages -- securitizeed mortgages that are creating problems. so if there was a little more transparency there unrelated to the issue i bring before us, transparency makes a difference.

Sheldon Whitehouse

0:38:22 to 0:39:02( Edit History Discussion )

Sheldon Whitehouse: you know what's going on. you can quantify it. given the securities and exchange commission's current attempts to halt the manipulative short-selling and other transactions by hedge funds that threatens

Sheldon Whitehouse

0:43:57 to 0:44:37( Edit History Discussion )

Sheldon Whitehouse: the stability of our markets, i'm very disappointed that the senate did not adopt this legislation a long time ago. if it had, then the securities and exchange commission might have more of the tools

Personal tools

MetaVid is a non-profit project of UC Santa Cruz and the Sunlight Foundation. Learn more About MetaVid

The C-SPAN logo and other servicemarks that may be found in video content are the property of their respective trademark holders. None of these trademark holders are affiliated with Metavid