Senate Proceeding on Jun 19th, 2008 :: 6:17:14 to 6:20:14
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6:17:00 to 6:17:14( Edit History Discussion )

Christopher Dodd: obligation of $6 trillion in debt. if the risk is not managed properly or if market movements turn dramatically against them, the federal government could face a very, very serious situation. so we owe

6:17:14 to 6:17:37( Edit History Discussion )

Elizabeth Dole: it to the american taxpayer, our constituents who would be on the line, to act comprehensive reform legislation. a strengthened regulator is in everyone's best interest: the administration, the congress,

6:17:14 to 6:20:14( Edit History Discussion )
Speech By: Elizabeth Dole

6:17:37 to 6:17:48( Edit History Discussion )

Elizabeth Dole: wall street, investors world wide and, most importantly, the american home buyer. i believe by strengthening this regulator, that we will create a greater level of confidence in investors at a time when

6:17:48 to 6:18:12( Edit History Discussion )

Elizabeth Dole: more capital and more liquidity is needed in the troubled financial times. the importance of fannie mae and freddie mac in the housing financial substantially is undeniable. real reform is necessary

6:18:12 to 6:18:33( Edit History Discussion )

Elizabeth Dole: to ensure that the public understands that the two companies can continue to make low-cost mortgage financing available to low- and moderate-income familiesut we also have to do more than help temper

6:18:33 to 6:18:50( Edit History Discussion )

Elizabeth Dole: the current situation. we've get to ensure that we don't find ourselves back facing the same issues again in the future that we're facing today. that's why senator feinstein and i have worked hard open

6:18:50 to 6:19:06( Edit History Discussion )

Elizabeth Dole: a bill bill -- hard on an bill, an amendment accepted in court, the safe mortgage licensing act, addressing the loose patchwork of state regulation of residential mortgage loan original ridge

6:19:06 to 6:19:23( Edit History Discussion )

Elizabeth Dole: originators and is in the package. this would help eliminate bad actors from the mortgage business. i should say, most mortgage brokers are decent, honorable people, trying to do a good job each and every

6:19:23 to 6:19:44( Edit History Discussion )

Elizabeth Dole: day but there have been bad accomplishes and bad actors in this arena and this act creates a database and require brokers and lenders to meet minimum national standards to ensure they are professional

6:19:44 to 6:20:00( Edit History Discussion )

Elizabeth Dole: and competent. strong licenses are an important component in protecting consumers and restoring confidence in the marketplace. there's another important component to the package, the reform of the federal housing

6:20:00 to 6:20:14( Edit History Discussion )

Elizabeth Dole: administration or the f.h.a. congress created f.h.a. in 1934 to help spur the housing market and increase homeownership. it was another time when we were in a troubled financial situation. it

6:20:14 to 6:20:34( Edit History Discussion )

Christopher S. Bond: was after the great depression. it was one of the vehicles that moved america, particularly after the second world war, into an ownership society. instead of governmental loans or subsidies, borrowers

6:20:14 to 6:28:05( Edit History Discussion )
Speech By: Christopher S. Bond