Democratic Senators on Citigroup

Jan 8, 2009

U.S. Senate | Radio and Television Gallery

Democratic Senators announced an agreement with Citigroup, one of the country's biggest mortgage lenders, that would help families retain their homes.
Democratic Senators announced an agreement with Citigroup, one of the country's biggest mortgage lenders, that would help families retain their homes.

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TRANSCRIPT

TIME SPEAKER TEXT
00:00:36 Unidentified Speaker I THINK CONGRESSMAN BRAD MILLER IS GOING TO JOIN US. HE HAS BEEN ONE OF MY CO- SPONSORS FROM THE BEGINNING....
00:07:01 Unidentified Speaker THIS IS A BREAKTHROUGH DAY. BOTTOM LINE IS WE HAVE BEEN STYMIED BECAUSE THE BANKING INDUSTRY OPPOSES...
00:07:45 Unidentified Speaker I STARTED CALLING SEVERAL OF THE BANK'S AND SAYING IT MAKES NO SENSE FOR YOU TO OPPOSE THIS PROVISION,...
00:10:30 Unidentified Speaker SEVERAL HOUSE MEMBERS HAVE ALSO BEEN VERY INVOLVED IN THIS EFFORT. LINDA SANCHEZ WHO BEGAN THE EFFORT...
00:12:59 Unidentified Speaker THEN MAKE A STRONG CASE, OBVIOUSLY, WHAT THAT DOES. IT COULD REALLY HELP GET OUR ECONOMY MOVING AGAIN....
00:13:48 Unidentified Speaker WE HAD OUR FIRST BIPARTISAN MEETING AND THAT FINANCE COMMITTEE, AND IT WAS BROAD SUPPORT FOR DOING...
00:14:20 Unidentified Speaker YOU SAID THAT HE SPOKE WITH SEVERAL OF THE BIG BANK HEADS TODAY. CAN YOU GIVE US ANY INDICATION ABOUT...
00:14:33 Unidentified Speaker FIRST, A GOOD NUMBER OF THE BANKS HAVE CALLED. CITIGROUP'S ACTION HAS BROKEN THE DAM. WAIT UNTIL THEY...
00:15:24 Unidentified Speaker THE SUPPORT TO GET IT THROUGH?
00:15:27 Unidentified Speaker WE NEED TO GET MORE SUPPORT FROM SOMEWHERE.
00:15:33 Unidentified Speaker SUCH HORS D'OEUVRE BEEN, THE ORIGINAL PROPOSAL -- THE SENATOR HAD THE ORIGINAL PROVISION. IT WAS NEVER...
00:16:10 Unidentified Speaker HE SAID THAT THE HOPE IS THAT -- HAVE YOU TALKED TO ANYONE THAT HAS OPPOSED IT WITH REGARDS -- ANY...
00:16:22 Unidentified Speaker NO, I HAVEN'T. WE HAVE SOME WORK TO DO. WE CAN AT LEAST APPROACH OUR COLLEAGUES AND TELL THEM THAT...
00:17:29 Unidentified Speaker THE IRONY IS, CERTAINLY, FOR THE LOOKLARGER INSTITUTIONS, IT MADE NO SENSE FOR THEM TO BE AGAINST...
00:18:29 Unidentified Speaker ONE LAST QUESTION.
00:18:34 Unidentified Speaker VARIOUS OPPOSITION TO THIS AND THAT IT WOULD SLOW DOWN THE STIMULUS.
00:18:40 Unidentified Speaker THIS STIMULUS HAS TO PASS. I THINK TO IGNORE THE MORTGAGE FORECLOSURE ISSUE IS REALLY TO OMIT ONE...
00:18:59 Unidentified Speaker YOU BROUGHT UP THE FINANCE COMMITTEE MEETING TODAY. WHAT HAPPENED WITH THE SUPPORT ON THE OVERALL...
00:19:10 Unidentified Speaker LOOK, I AM NOT GOING TO GET INTO THE DETAILS. BUT THAT THINK THERE WAS A GENERAL VIEW THAT WE HAD TO...

NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.

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  • Dodd, Christopher J.
  • Durbin, Richard "Dick" J.
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  • Schumer, Charles E.

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