MSNBC Interview - Transcript

Interview

MSNBC INTERVIEW WITH REP. GREGORY MEEKS (D-NY)
SUBJECT: U.S. FOREIGN RELATIONS INTERVIEWERS: ANDREA MITCHELL, SAVANNAH GUTHRIE

Copyright ©2009 by Federal News Service, Inc., Ste. 500, 1000 Vermont Ave, Washington, DC 20005 USA. Federal News Service is a private firm not affiliated with the federal government. No portion of this transcript may be copied, sold or retransmitted without the written authority of Federal News Service, Inc. Copyright is not claimed as to any part of the original work prepared by a United States government officer or employee as a part of that person's official duties. For information on subscribing to the FNS Internet Service at www.fednews.com, please email Carina Nyberg at cnyberg@fednews.com or call 1-202-216-2706.

MS. MITCHELL: One of the people who's going to be watching closely is Gregory Meeks. He is the ranking Democrat on the House Foreign Affairs Committee and is certainly watching Secretary of State Clinton as she carves out some new territory.

Congressman, thanks so much for joining us. Do you think there's a built-in tension that could be brewing here between the people of the Treasury, who think that they're in charge of China from a U.S. policy perspective, and Secretary Clinton, who is -- seems to be expanding the role of the State Department?

REP. MEEKS: No, I think that they're going to work it out, because they're all interrelated. And I think it speaks for what the Cabinet's going to have to do by talking to one another, and the closeness that they have to have in coming back.

It's like, you know, the orchestra leader, and that's what President Obama is. But I think that he put the appropriate people, with Secretary Geithner and Secretary of State, of course, Clinton, in, because they have great ability and they will be talking and working very closely with one another.

MS. MITCHELL: One of the emotional issues here in Japan -- and it relates to North Korea -- is she's going to meet with the families of people who were abducted by the north and have not been seen for decades, for generations. And she's -- that is the kind of outreach that is very popular with the Japanese people and the Japanese government. Is this an issue that you think needs to be resolved before we can establish diplomatic relations with Pyongyang?

REP. MEEKS: Well, I think it's significant, because I know that the Japanese were upset when we took Korea off of the terrorist list, because they want us to work in conjunction with them. And it makes us closer to them and lets them know how important Japan is, the second-largest economy in the world, to the United States. And it gives a signal that we're going to look to work closely with you and we're going to depend upon you to help us as we look to Korea, as we deal with, you know, with China and other issues.

It's talking to people, it's working together with them and letting them know that we understand what is of concern to them. So I think it's very important and very symbolic in what's -- what the secretary of State is doing there.

MS. MITCHELL: Congressman, according to Chuck Todd, there may be some kind of a signing statement by President Obama when he signs the stimulus bill tomorrow night, and he's going to try to softpedal the "Buy America" provision that was a big deal for, you know -- certainly for the Democratic caucus. It's very controversial over here in Asia, though. What do you think -- what do you want to hear him say? And do you have some concerns that this provision will not be implemented the way you envisioned it?

REP. MEEKS: Well, you know what? In looking at it in its totality, I think that he should be -- because I understand that those in Japan are nervous. You know, just a couple days ago their GDP was down 12 percent, primarily because of their exports. And they -- you know, when you talk about "Buy America," you're talking about not having or limiting the exports they have to the United States. And we're the largest consumer.

So it is a global economy, and we've got to figure out how we work closely together. And I think that that's what we're going to have to do also in Congress, is to figure out how we make sure that we shore up jobs here, creating jobs for American, but also not isolating ourselves and insulating ourselves from the rest of the world, because everybody else is hemorrhaging and suffering also.

MS. MITCHELL: Savannah?

MS. GUTHRIE: Congressman, it's Savannah Guthrie, here in Washington. I wanted to ask you about a domestic issue. On Wednesday, the president will unveil his plans to address the foreclosure crisis. A, have you been told anything about it in your capacity as -- being on the Financial Services Committee -- about what may be coming? And B, is $50 billion, which is apparently the amount they're looking at to help stem foreclosures, enough money to get this done?

REP. MEEKS: Well, you know, I think that it's a beginning. Whether it's enough, it's more than what we've had. And I know it's somewhere -- we've been talking about between 50 billion (dollars) and 75 billion (dollars). And the exact roll-out or what's going to be rolled out, we don't know, but we know that Chairman Barney Frank has been working very closely with the administration on it. And so there's been some suggestions of what we can expect to come out on Wednesday. But I think that we'll allow Secretary Geithner to come out with that.

But most members of the committee take our hats off to the administration, because what we're really looking for is transparency and making sure that for the first time that when you talk about the TARP money that a significant amount of it is going to go to homeowners. We've got to make sure that we keep people in their homes, because what is what caused this crisis -- the financial crisis in the first place. And then we've got to look at what the rest of the 350 billion (dollars) is going toward, to make sure that it's not going toward just individual financial institutions to buy other institutions, but that we're stabilizing it. And I mean, the big question is how you determine what the value is of those toxic assets. And that's what I think everybody's going to be looking for, to see how we go.

MS. GUTHRIE: I think everybody is waiting to see just how they want to unspool some of those mortgages that have been sliced and diced almost beyond recognition.

Congressman Gregory Meeks, got to leave it there. Thank you so much for your time this afternoon.

REP. MEEKS: Thank you. Good being with you.

END.

Source