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Published: Tue, 30 Sep 2008
Description: Rep. Garrett on the bailout!
Automatically Generated Transcript (may not be 100% accurate)
" This this government in eight years has followed a right wing ideology. That anything goes no supervision. No discipline. -- regulation."
" From the great state of New Jersey congressman Scott Garrett. Sits on the House of Representatives financial services and budget committees. Who no doubt was on the floor when Nancy Pelosi made that statement yesterday. And who full disclosure is my neighbor friend and represents me in the House of Representatives congressman Garrett welcome back to Brian and The Judge."
" It's good to be with you this morning could be I don't want -- been -- congressman how how much pressure were you under to vote for this."
" Well leadership didn't company on the Florida law that probably because from day one and they want in this case was last Saturday. What afternoon when the White House first davis' proposal I Fed at that point that I had. True reservations and concerns about what -- White House then later on that people locally in adopting it with. Trying to get what they're doing so I think they knew right -- very --"
" This isn't an insult I think it is to suggest that Republicans voted against this. Because Nancy Pelosi was partisan didn't aren't aren't there at least the Republicans have voted against that simply because they believe the American public don't. Doesn't want the constitution doesn't authorize. An economics 11 teaches against any enormous trillion dollar federal entry into the private debt markets."
" Code judge boy do we want to bring up the constitutional voting on measures."
" Did you forgot to remind them that they all took and most of the constitution."
" Won't we we tried but -- that the is that doesn't didn't come -- deployed but it will face an economic 11 did come up to play on the issue and although I have been receiving phone calls. Galore and the vote came down and now again this morning from. My friend that Wall Street bank helped you voted now. Economic value and if you read the bill value of that there's nothing and it that actually address the the problem better -- on Wall Street. "
" Yeah that this people are concerned about how it relates to them. Do you believe. Congressman that this could have been presented differently. Used the term rescue. And be directly linked to credits car loans mortgages. In the everyday consumer items rather than the big market items."
" Well certainly that the messaging and that the selling them that was abysmal. I mean when the Treasury Secretary who's supposed to be the man in charge of keeping the market calm and the economy going and the banks moving. Come down says we are going to have a meltdown in the market tomorrow if we do not move -- today. That sent the wrong signal from day one. And unfortunate the president is keeping with that tune when he was on TV if if there's this morning helping me it's the same thing. I met the people who could have been better as far as Harold Wall Street affects. Main main street. Today the this bill with that 700 billion dollar purchase -- mortgage backed securities. No I'm no expert said that what really felt the prop."
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