Senate Proceeding 05-05-09 on May 5th, 2009 :: 1:55:55 to 1:56:19
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1:53:30 to 1:56:04( Edit History Discussion )
Speech By: Jim DeMint

1:55:43 to 1:56:05( Edit History Discussion )

Jim DeMint: we said we would do with the $700 billion which will ultimately be over $1 trillion that we are playing in the private stock market with. as we pass this bill that's supposed to protect homeowners i'm introducing an amendment, an amendment that would force this government to a or keep it from going further than it already has in the private sector.

1:56:05 to 1:56:09( Edit History Discussion )
Speech By: Christopher S. Bond

1:56:06 to 1:56:12( Edit History Discussion )

Christopher S. Bond: it would prohibit the government from converting these loans

1:56:10 to 1:58:14( Edit History Discussion )
Speech By: Jim DeMint

1:56:13 to 1:56:33( Edit History Discussion )

Jim DeMint: which are sometimes referred to as preferred stock now. it is not voting. wo converting this could common stock. to ownership. to being quit. to -- to equity in the banks. it shouldn't surprise anyone, we were told this wouldn't happen in the first place.