House Democrats Briefing on CNN Live now !

[steve2470]

link: http://www.cnn.com/video/live/live.html?stream=stream1

[gopbuster]

1. Want to try to add STET...yes n/t

[TxBlue]

45. Thanks! Steve Where can we find this?

thanks so much for posting conference

[Tatiana]

2. Update the cuberats, please! n/t

[gopbuster]

7. Sorry....here>>>>>

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x7257433

[steve2470]

3. Marcy Kaptur speaking of what needs to be in new bailout bill nt

[steve2470]

4. male rep. on now... don't know name... nt

[WinkyDink]

5. I can't stand the reporter, Rick whatever; he speaks with his tongue held behind his bottom teeth!

[steve2470]

6. another male rep. on.... wants FDIC used nt

[steve2470]

8. Russ Holt (?) from central NJ... voted for bailout, wants tweaks to all sections nt

[steve2470]

9. Holt wants to repair the bad mortgages nt

[steve2470]

10. Homeowners Loan Corporartion from Depression idea being advanced by Holt nt

[steve2470]

11. Mazie Hirono ? from Hawaii... on now nt

[steve2470]

12. Mazie wants economic stimulus package to be passed in Senate nt

[steve2470]

13. Mazie wants to get to root causes of the problem nt

[steve2470]

14. Donna Edwards from 4th of MD... on now , voted no nt

[steve2470]

15. Donna commends leadership

Feels this bill must be much better.....

Wants current tools to be used...

[steve2470]

16. Donna wants crisis of confidence addressed, increase FDIC limits

Bill must help homeowners..... high foreclosure rate in her district

Needs to enable homeowners to renegotiate loans through bankruptcy or another process...

[steve2470]

17. Donna says economic stimulus package in Senate must be passed nt

[steve2470]

18. Elijah Cummings from Baltimore....on now nt

[ShortnFiery]

19. Yes, I saw it. Our House Democrats did us (American Middle Class) proud today. Don't rush this!

There's no reason to cram the original BAD bill down our throats. Time to regroup and submit a "smart" package that will both PUNISH the corrupt corporate cronies AND assist those of us working Americans with our 401 Ks and other investments.

Go House Democrats! :patriot:

Thanks for the heads up. :hi:

[steve2470]

20. wants congress to be deliberative (Cummings)

Wants balance in new bill.... concerned about Wall Street and Baltimore

[steve2470]

21. Cummings: wants strict oversight of new bill

Wants bill to help families stay stable, repeatedly emphasizes the need for balance between Wall Street and Baltimore

[steve2470]

22. now taking questions nt

[steve2470]

23. male rep points out Paulson has been wrong a lot

He has little confidence in Paulson

[msallied]

24. Good. I was for the last bill specifically because of the mounting crisis.

If they can get a better bill passed quickly, though, I'll be far more enthusiastic.

[renate]

25. just wanted to say--thanks so much for the updates and summaries, steve!

:yourock:

[steve2470]

26. another male rep points out that Paulson was not really limited in defeated bill

DeFazio was previous rep. I typed about

[steve2470]

27. male rep: says Bernanke admits that defeated bill would not cure all ills

Fazio says that declining house values must be stabilized

Fazio says insurance provision said Paulson could use insurance at risk evaluation

[steve2470]

28. Kaptor on now

points out that Paulson has most experience as a day trader instead of a banker....

says frenzy of Paulson came from that

[steve2470]

29. Kaptor: says current financial crisis is not the worst

Resents pressure from overhype.... says in 1980's 3000 banks failed, all banks in Texas failed.... the cure
was 100 Billion and done with market discipline, done with 1.8 Billion by FDIC

[steve2470]

30. Kaptor: speaks strongly against frenzy and rush to judgment

says it endangers the Republic. Wants committees to function in normal way

[steve2470]

31. male rep on now: fair value of assets needs to be in the bill , unlike former bill

taking deliberative approach to solve problem and protect taxpayer money

[steve2470]

32. DeFazio on again....

says legislation may be needed to force Bush to use current tools... Fazio : housing and stimulus need looked at... transfer fee should not be taxpayer money but Wall Street money

[steve2470]

33. DeFazio: extend regulatory authority and force President and Paulson and Chris Cox to use..

current tools

[steve2470]

34. DeFazio: talking to Issa and other R's on using regulatory powers..

Republicans sending letter to President on using regulatory powers

[steve2470]

35. DeFazio: states this bill must be done right, must be done with enough time

other male rep. regrets that Democrats were faced with take it or leave it from admin.

[steve2470]

36. Cummings: talks about seminars to help people losing their homes

says it's painful to watch

says the whole process has to be slowed down

stresses that ALL Americans must be taken into account

[steve2470]

37. Cummings: has no regrets about his vote

says business owners in his district want him to understand, angry that 40 billion package in the Senate
languishes....

[steve2470]

38. Donna said people rarely asked her to pass the bill

Did not know what to tell people what the bill did for them

[steve2470]

39. a male rep on again.... "mark to market" change will help

increase in FDIC insurance will help
"certificates" will help (?)

[steve2470]

40. Holt on again.... says he does not regret vote FOR the bill

wants real limits on executive compensation
wants taxpayer equity in the affected companies
mortgage recue program needed
bankruptcy changes may be needed

[steve2470]

41. DeFazio may meet with Senators on their plan, but nothing definite yet

large number of Republicans want no cost or low cost ways of dealing with credit crunch

[steve2470]

42. DeFazio: some of the credit unions are telling businesses that the FDIC

wants the banks to cut off their credit... cannot ascertain why this is happening

[TxBlue]

44. huh? wonder why?

Market just closed
UP almost 500 pts

Dollar UP

[steve2470]

43. Kaptor: recites some history of lending.... now credit going up to

Wall Street.... megabanks control the credit line...


PRESS CONFERENCE OVER NOW, whew lol

[TxBlue]

46. Steve - Can you find Press Conference? We need this to go Viral

If MSM won't cover this we need for this to go viral.

Kaptur for next Speaker.

[steve2470]

47. ok let me look on youtube, brb nt

[TxBlue]

48. Thanks Steve

This press conference actually gave me hope that not all of Congresscritters are
a/ Dumb
b/ bought off

[steve2470]

49. you're very welcome, I enjoyed it too ! nt

[TxBlue]

50. Steve - Did you find anything on YouTube ??

[steve2470]

51. no not yet, can't find any transcripts yet either nt

[steve2470]

52. transcript of House Democratic press conference HERE

http://text.fednews.com/transcript.htm?id=20080930t2390&query=&SLID=708616747800456938d3e8d251c5f0a8

Unfortunately, you have to have a subscription to get the entire transcript. Here is what is free:

PRESS CONFERENCE WITH HOUSE DEMOCRATIC MEMBERS
• SUBJECT: FINANCIAL BAILOUT PLAN
• PARTICIPANTS: REP. PETER DEFAZIO (D-OR); REP. MARCY KAPTUR (D-OH); REP. ROBERT SCOTT (D-VA); REP. LLOYD DOGGETT (D-TX); REP. RUSH HOLT (D-NJ); REP. MAZIE HIRONO (D-HI); REP. DONNA EDWARDS (D-MD); REP. ELIJAH CUMMINGS (D-MD)

HOUSE RADIO-TELEVISION GALLERY, U.S. CAPITOL, WASHINGTON, D.C.
3:05 P.M. EDT, TUESDAY, SEPTEMBER 30, 2008

REP. DEFAZIO: Thank you. Thank you all for being here.

We have a small group of members. But we believe our views resonate beyond this small group. And also some of the ideas we'll present today resonate very strongly on the Republican side. And I've been in touch with some Republican legislators who are very interested in some of the contests we'll discuss. ...

[steve2470]

53. video link from Cspan.....

http://switchboard.real.com/player/email.html?PV=6.0.12&&title=House%20Democrats%20Press%20Conference%20on%20Alternative%20Financial%20Intervention%20Plan&link=rtsp%3A%2F%2Fvideo1.c%2Dspan.org%2Fproject%2Feconomy%2Fecon093008%5Fdems2.rm

or:

http://tinyurl.com/4lxgb5 (safe to click)