House Proceeding on Oct 2nd, 2008 :: 0:20:59 to 0:22:10
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0:20:59 to 0:22:10( Edit History Discussion )
Speech By: Ed Perlmutter

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Ed Perlmutter: the fdic as we did in the 1980's to resolve thousands of problemmed institutions. in those days we had over $100 billion worth of resolution costing $1.8 billion to the insurance fund, not the

0:21:46 to 0:22:03( Edit History Discussion )

Ed Perlmutter: taxpayer. we need to use the security and exchange commission to work with our banks and how they account for the real estate on their books, not with false indexes and arbitrary measures

0:22:03 to 0:22:18( Edit History Discussion )

Ed Perlmutter: but rather to true value. that would unlock billions of dollars, $500 billion in the system today and would ease interbank lending. let's use the right medicine, not a band-aid as our deficit explodes