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| TIME | SPEAKER | TEXT |
|---|---|---|
| 00:00:09 |
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CONGRESSMAN ED PERLMUTTER, LET'S TALK ABOUT THE LEGISLATION FOR AT-RISK, HONORS. IT WOULD LEAD BANKRUPTCY... |
| 00:00:21 |
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YES, BECAUSE IT IS A CHANGE IN THE RULES IN THE MIDDLE OF THE GAME. THE BANKRUPTCY LAW ALLOWS FOR... |
| 00:01:45 |
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WHEN YOU TALK ABOUT MORTGAGES THAT WERE SPLIT UP AND SOLD IN THE REPACKAGED, HOW CAN THIS LEGISLATION... |
| 00:01:56 |
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THE BORROWER GOES INTO BANKRUPTCY, AND IT IS NOT AN EASY STEP TO GO INTO BANKRUPTCY. NOBODY WANTS... |
| 00:02:46 |
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HOW MANY PEOPLE DO YOU THINK WILL TAKE ADVANTAGE OF THIS LEGISLATION IF IT WERE TO PASS? |
| 00:02:51 |
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THAT IS ONE OF THE MORE DIFFICULT QUESTIONS. I ASKED THE COMMITTEE AS TO WHAT THE EVIDENCE WAS, AND... |
| 00:02:59 |
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THE FINANCIAL SERVICES COMMITTEE? |
| 00:03:04 |
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THIS WAS THE JUDICIARY COMMITTEE. THE REST OF THE ABILITY OF THE IC ELEMENTS KANTOR FINANCIAL- SERVICES.... |
| 00:03:39 |
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FELLOW DEMOCRATS OF VOICED THEIR CONCERN, AND THEY SAID THEY WERE NOT SURE THEY COULD VOTE FOR THIS... |
| 00:03:49 |
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I APPRECIATE THIS THAT THE LEADERSHIP SAID. THEY SLOWED THIS DOWN SO THAT THERE COULD BE FURTHER ... |
| 00:04:38 |
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WHAT OTHER CHANGES DIAZ'S BUT COULD COME ABOUT A DEBATE OR THE HOUSE FLOOR WHEN IT GOES TO THE SENATE?... |
| 00:04:43 |
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THERE IS ANOTHER AMENDMENT ON THE HOUSE FLOOR THAT MAKES THAT APPRECIATION GO LONGER. RIGHT NOW,... |
| 00:05:04 |
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CONGRESSMAN ED PERLMUTTER IS A MEMBER OF THE FINANCIAL SERVICES COMMITTEE, REPRESENTING THE SEVENTH... |
| 00:05:37 |
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LET'S MOVE ON TO MYRTLE BEACH, A REPUBLICAN LINE. CALLER: YES, GOOD MORNING. I WAS INTERESTED IN YOU... |
| 00:06:50 |
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WELL, MR. MYRTLE BEACH, I APPRECIATE THE QUESTION, AND YOUR CONCERN IS ABOUT WHAT THIS WILL DO TO... |
| 00:09:39 |
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NEXT PHONE CALL, MINNEAPOLIS. CALLER: THE PROBLEM HAVE WITH WRITE-DOWNS ON THE PRINCIPLE, WHICH IS... |
| 00:10:22 |
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AREA GOOD QUESTION. IF SOMEBODY HAS COMMITTED FRAUD AND THEY'RE NOT GOING TO BE ABLE TO GET A DISCHARGE... |
| 00:11:51 |
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THE HOUSING SECRETARY IS GOING TO ME WITH THE DEMOCRATS TODAY. WILL YOU BE AT THAT MEETING? WHAT... |
| 00:11:59 |
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I PLAN ON BIDDING AT THAT MEETING. ON ON THE RULES COMMITTEE WHICH MEETS AT THE SAME TIME. I INTEND... |
| 00:12:37 |
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WILL YOU VOTE FOR THIS LEGISLATION? |
| 00:12:39 |
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I WANT TO SEE WHAT CHANGES ARE MADE OVER THE COURSE OF THE WEEKEND. THE CHANGES THAT HAVE, ALONG ... |
| 00:13:13 |
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HE IS A FORMER BANKRUPTCY LAWYER AS WELL. SAVANNAH, GA., YOU ARE NEXT. CALLER: MY QUESTION IS, SHOULD... |
| 00:14:04 |
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WELL, YOU'RE RIGHT ON, TOO. IT IS A TWO-WAY STREET. A LOT OF LENDERS PLAY GAMES. A LOT OF SELLERS... |
| 00:15:45 |
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WILLED BANKRUPTCY JUDGES DECIDE THIS ON A CASE BY CASE BASIS AND THE WORLD THERE BE A SET OF STANDARDS... |
| 00:15:51 |
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IT WILL BE A CASE BY CASE BASIS, BUT THE BILL PROVIDES -- ONE OF THE CHANGES IS TO USE SOME FHA VA... |
| 00:16:29 |
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WHAT SKILLS DO BIG GROUPS THE JUDGES BRING TO THE TABLE TO ADDRESS THIS SORT OF LEGISLATION? |
| 00:16:35 |
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BANKRUPTCY JUDGES BRING FINANCIAL SKILLS AND A LEGAL SKILLS. THEY LISTEN TO THIS KIND OF TESTIMONY... |
| 00:17:26 |
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ILLINOIS, REPUBLICAN LINE. CALLER: GOOD MORNING. I AM FROM THE CHICAGO LAND AREA. MY CONCERN IS I... |
| 00:18:14 |
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THAT IS A VERY GOOD QUESTION, AND I AM TRYING TO THINK. I DO NOT KNOW. I DO NOT THINK IT IS GOING... |
| 00:19:02 |
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MARION, INDIANA. CALLER: YES, WHEN THESE MORTGAGES ARE GOING TO BE WRITTEN DOWN, THEN THE BANKS ARE... |
| 00:20:50 |
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VERY GOOD QUESTION TO THE CONCERNS BILLET'S ARE WITH YOUR LAST COMMENT ABOUT MEAN STREAK AND SMALL... |
| 00:22:47 |
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THE FDIC REPORTED THAT TROUBLED BANKS ARE UP 47%. THERE ARE 252 PROBLEM BANKS. IF ONE OF THESE BANKS... |
| 00:23:04 |
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IT REALLY SHOULD NOT IMPACT THE LEGISLATION. IF THE BANK WERE TO FAIL, IT IS GENERALLY ABSORBED BY... |
| 00:24:42 |
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AS A MEMBER OF THE FINANCIAL SERVICES COMMITTEE, THIS IS "TIME" MAGAZINES RELEASE ON THE FDIC POLICY... |
| 00:25:08 |
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I THINK THE GOOD PROPERTIES, PARTICULARLY IN THOSE STATES AND MENTIONED, HAVE DROPPED, IT AFFECTS... |
| 00:25:59 |
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CHESTER, NEW HAMPSHIRE, LAST PHONE CALL. CALLER: IT AMAZES ME THE LACK OF ANY KIND OF COMPASSION REPUBLICANS... |
| 00:26:24 |
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YOU HAVE GOT TO HAVE TWO SIDES TO EVERY ARGUMENT, AND NONE OF US HAVE A COMPLETE BLOCK ON THE WAY... |
| 00:27:27 |
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NOW DO YOU HAVE MONEY IN THE STOCK MARKET? |
| 00:27:32 |
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I HAVE MONEY IN MY 401K, WHICH I LOOKED AT IT 10 DAYS AGO, AND THAT WAS NOT -- SOMEBODY SAID JUST... |
| 00:28:14 |
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SO YOU HAVE SEEN A LOSS IN YOUR OWN FOR ONE WAY? |
| 00:28:20 |
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YES, BUT PROBABLY 40%. |
| 00:28:23 |
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THIS IS BREAKING ON THE AP WIRE, THE FED IS LAUNCHING ITS MUCH-AWAITED PROGRAM AND BOOSTING THE AVAILABILITY... |
| 00:28:40 |
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I THINK IT IS GOOD. I THINK THERE IS A BALANCE BETWEEN SAVING AND SPENDING. WE WERE OUT OF WHACK AND... |
| 00:29:56 |
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ALRIGHT CONGRESSMAN, WE'RE OUT OF TIME. THANK YOU. NEXT, A CONVERSATION BUT OVERSIGHT OF U.S. FINANCIAL... |
| 00:30:44 |
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WE'RE COVERING A COUPLE ECONOMIC HEARINGS ON CAPITOL HILL TODAY. FEDERAL RESERVE CHAIRMAN BEN |
NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.
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Perlmutter, Ed
U.S. Representative [D] Colorado
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