Senate Proceeding on Apr 22nd, 2009 :: 1:03:00 to 1:08:05
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1:02:56 to 1:03:19( Edit History Discussion )

Arlen Specter: their retirement. they are the people who lost their h they are the people who lost their ability to pay for their kids to go to the senato absoluly right. mr. specter: madam president, i concur with the -- may the record show that the presiding officer changed while i was looking atenator

1:03:00 to 1:08:05( Edit History Discussion )
Speech By: Arlen Specter

1:03:20 to 1:03:40( Edit History Discussion )

Arlen Specter: madam president, i what prosecutor leahy said. it bears out the experience that i had attorney myself. that jail sentences are really important, and the way to deal with this kind of crime. and when i have

1:03:41 to 1:04:02( Edit History Discussion )

Arlen Specter: by my constituents on my travels through pennsylvania about who's going to be held accountable, and tell them that the prospects for jail sentences are they are tkeus waged. dissuaged.

1:04:03 to 1:04:24( Edit History Discussion )

Arlen Specter: i know the distinguished republican leader has come to the floor. his presence takes he's busier than i, although i am very pw s. i'll be glad -- i am i'll be glad to yield the flo mr. mcconnell: madam president, i am not seeking

1:04:25 to 1:04:45( Edit History Discussion )

Arlen Specter: mr. specter: i thank senator mcconnell for those comnts. the statute which is on the floor, the bill which is on the floor, propo very impor piece. it will strengthen law enforcement being directed against precisely the kinds of

1:04:46 to 1:05:06( Edit History Discussion )

Arlen Specter: white-collar crime we are talking about. the bill authorizes $165 a year for hiring fraud prosecutors in the department of justice, including $75 million for the f.b.i. toring in 190

1:05:07 to 1:05:28( Edit History Discussion )

Arlen Specter: additional special agents more than 200 professional staff. $50 million a year for the u.s. attorney's offices to staff the strike forces. $80

1:05:29 to 1:05:49( Edit History Discussion )

Arlen Specter: inspector general, secret service and the office of housing and urban development r. it amends the definition of "financial institution" to extend federal fraud laws to mortgage lending businesses that are not directly regulated or insured with the federal

1:05:50 to 1:06:11( Edit History Discussion )

Arlen Specter: government. these companies are responsible for nearly half of the residential mortgage market before the economic collapse, yet they remain today largely unregulated and outside the cope of tra -- outside the scope of traditional federal fraud statutes. this bill will correct that.

1:06:12 to 1:06:36( Edit History Discussion )

Arlen Specter: it amends the major fraud statute to protect funds expended under tarp -- troubled asset relief program -- and the economic stimulus package. so we are providing criminal sanctions for the peoe who are going to misuse have been appropriated in the past year.

1:06:37 to 1:06:59( Edit History Discussion )

Arlen Specter: it amends the federal securities crime statute involving commodities futures and options, including derivatives involving mortgage-backed securities that caused such damage to our federal system. it also amends the federal laundering statutes to cover not

1:07:00 to 1:07:20( Edit History Discussion )

Arlen Specter: only profits, but the supreme court interpreted the statute so narrowly that it needs modification. and there have been also judicial interpretations of the false claims act which this

1:07:21 to 1:07:41( Edit History Discussion )

Arlen Specter: legislation will correct. so it is a very important bill. that is a very short statement of t it is my hope has amendments will come to the floor to offer them. i believe that this is a bill which will get very widesprea

1:07:42 to 1:08:05( Edit History Discussion )

Arlen Specter: support in the senate. we have legislative matters behind it, so it would be my hope that we could move this through expeditiously, giving people an opportunity to offer amendments if they have some. we'd be looking for agreement as soon as we could construct one. so i urge my colleagues to come