Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-15-Speech-2-203-000"

Predicate	Value (sorted: default)
rdf:type	lpv_eu:Speech2
dcterms:Date	"2011-11-15"^^xsd:date2
dcterms:Is Part Of	lp_eu:Explanations of vote2
dcterms:Language	"en"^^xsd:language2
lpv:document identification number	"en.20111115.27.2-203-000"2
lpv:hasSubsequent	lp_eu:2011-11-15-Speech-2-204-0002
lpv:speaker	lp:Syed Kamall2
lpv:spoken text	"Madam President, as a shadow rapporteur on this report, I had a number of concerns. First of all was the lack of focus on the causes of the crisis. One of the things we are ignoring in this place is the role that governments themselves played in creating the crisis. Look at the US Government and the Community Reinvestment Act which encouraged banks to lend to uncreditworthy customers, and at the levels of debt that governments incurred – and then they blamed the markets. At the same time, I also share some of the concerns about the CDS and uncovered sovereign CDS. However, my concerns over this report were that we actually missed the target. Of course we should be tackling the issue of CDS when a bank does a swap and suddenly bad debt is re-rated as good debt because the CDS has been issued by an institution that itself has a good credit rating. But the most important thing that we have missed is that those organisations, those institutions that issue CDS, should make sure that they have sufficient capital to meet their obligations when a default occurs. This has not occurred and we have missed the elephant in the room."@en1
lpv:spokenAs	substitute; INTA (2009-07-21--2012-01-18)3 member; PECH (2009-07-14--2013-11-18)3 substitute; JURI (2011-06-08--2012-01-18)3 substitute; Delegation for relations with the Maghreb countries and the Arab Maghreb Union (2009-09-16--2014-06-30)3 member; ECON (2011-06-08--2012-01-18)3 member; Delegation for relations with Switzerland and Norway and to the EU-Iceland Joint Parliamentary Committee and the European Economic Area (EEA) Joint Parliamentary Committee (2009-09-16--2012-02-01)3 unknown; Conservative Party (2009-07-14--2014-06-30)3 substitute; Delegation to the Parliamentary Assembly of the Union for the Mediterranean (2009-09-16--2014-06-30)3
lpv:unclassifiedMetadata	"Syed Kamall (ECR )."1
lpv:videoURI	<go to Events_and_structure europarl>2

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The resource appears as object in 2 triples

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