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-- -- Treasury Secretary Geithner testified before the senate banking committee yesterday defending TARP.
And the stress test but is usual.
It was -- push back on the Treasury's actions especially -- ranking member senator Richard Shelby take a look.
Believe the head the treasury if we look back and the -- exercise the different judgment and proceeded them more deliberative and measured manner.
The most severe aspect to this financial crisis could very well.
Well he thinks the worst could still be yet to come joining us right now is senator Richard Shelby Republican of Alabama ranking member of the banking committee good morning senator good to see here morning Alexis.
I love to see you in these hearings and and I know how you feel about this financial crisis are you still as concerned and it's so why.
I'm concerned because.
Although we go -- the stress tests.
Nineteen banks number of those banks and yet to meet meet their.
And capital requirements and secondly.
We have expanded.
Billions you know some 600 billion dollars into these banks these banks are not standing alone.
A lot of were standing there -- taxpayers' money.
Hold in the month.
I'll believe that with the financial crisis is is moving in the right direction when they start paying.
That money back all those banks and are standing on their -- owned and people have confidence in him.
Then you gonna say the economy really -- You think -- senator because I.
-- being very much in your camp on the concerns here surrounding this although.
I would you give a certain level of kudos to the Treasury Department in both the releasing of the stress test the way they in his sides did the market.
And and in fairness they said 74 billion dollars had to be raised.
And thus far looks like either commitments or money raised is about two thirds of the way accomplished in just a week.
Those are pretty good numbers aren't -- -- that they're on the right.
Road that way especially thing raise that money.
And they're doing -- in the private sector and not go back to the taxpayers wind -- What out hopeful the money back I know we're not supposed to get guidelines until June 8 why the hold up what's going on behind the scenes.
Well I'm not -- -- everything's going.
Homeland Hussein's but I can tell he has a lot of these banks are not able to stand on their own yet.
And they can't pay their money back the ones that can't pay their money back.
They ought to have a fast road to do and so the coast the taxpayer will start recovering some of that money.
And the sooner the better in the banks will be stronger because there will be standing.
On their own as they should be.
One of the heat most heated.
Parts of the conversations yesterday surrounded the health and well -- of small businesses.
If this administration in particular the use of the FDA is doing enough to help those small businesses have they demonstrated.
That they are.
Or they falling down in this regard.
I think they've fallen down thus far there's a lot of concern you saw it on the banking committee.
But Democrats -- senators and Republicans.
Because we hearing from the small business community all over the country that they're not making loans -- money is hard hard to come by.
Even creditworthy customers that's not the way to bank.
We've got to have flexibility we -- have liquidity in our marketplace especially the financial markets.
Senator -- -- switch gears for just a moment our colleagues over at the Fox News Channel have learned this morning that a group of GOP members.
Are calling for a bipartisan commission to investigate House Speaker Nancy Pelosi.
And what she knew about interrogation tactics do you support this and what do you hope to achieve -- in fact we do support it.
Well I assume that -- house proposal I had heard that -- and it.
You know this speaker is the speaker of the house I'm not in the house back and been named -- three years but.
Whatever the house -- to do in there with their own judgment fine.
But there is a big disagreement over what happened and win and he knew what regarding.
The CIA and the speaker.
Senator Graham congressman.
The -- at that time and -- out.
We heard that.
Just last night that eight plot here in New York was thankfully taking down.
With four different than gentleman who were looking actually to do some real damage here in the northern New York area.
Is this a story I guess that we have split on the back burner that now needs to move up since we've been so focused on the economy.
That at the end of the day national security should be our number one priority.
Well I'll tell you what national security will be our number one.
Party again shouldn't never be any thing is step number one.
If we have an attack which we -- -- we want do in this country against our own people.
But there people their chairs in this country their people that will do us harm and we should not sleep on our security.
All right senator Richard Shelby as always great pleasure seeing you -- -- -- -- -- and I thank you.
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