Senate proceeding 10-01-08 00 :: 4:16:11 to 4:16:45 of 4:40:19

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Views:27 Duration: 0:00:34 Discussion

Previous speech: Christopher Dodd Next speech: Bill Nelson

4:13:07 to 4:17:46( Edit History Discussion )
Speech By: Bill Nelson

4:16:03 to 4:16:21( Edit History Discussion )

Bill Nelson: mandate these efforts. we should start by requiring fannie and freddie to refinance the mortgages that they hold on their books. and, furthermore, i think that this bill should do more to investigate the business

4:16:21 to 4:16:35( Edit History Discussion )

Bill Nelson: practices of major credit rating agencies. they fostered the enormous growth of the mortgage-backed securities. they gave securities -- mainly consisting of subprime mortgages the gold standard or the

4:16:35 to 4:16:49( Edit History Discussion )

Bill Nelson: triple a rating. that rating gave investors the confidence that they were making safe investments. and without that triple a rating, iurance companies and pension funds and other investors would not