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{
    "id": 493556,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/493556/?format=api",
    "text_counter": 257,
    "type": "speech",
    "speaker_name": "Hon. Abongotum",
    "speaker_title": "",
    "speaker": {
        "id": 165,
        "legal_name": "Asman Abongutum Kamama",
        "slug": "asman-kamama"
    },
    "content": "committee has come up with this time. I am saying this because I also trade in financial securities. When I was District Officer I in Murang’a, I went to Kenya Commercial Bank to buy Treasury Bills. When I went to the bank, the manager told me that he did not have the forms because nobody was trading in Treasury Bills. Therefore, he had to go to Nakuru to get the forms so that I could fill them. Therefore, this is an area where we must develop. Hon. Temporary Deputy Speaker, if I can take you back, when the current President of America, Barrack Obama took over, he actually had a lot of problems trying to solve the so-called Lima and Brothers Mortgage industry fiasco. That company was initiated in 1845 and by the time Obama was taking over, the entire mortgage industry had collapsed because of poor advice by analysts. Therefore, he had to struggle so much to bring it to form. Even up to now, we still have people in America who are actually homeless. In America, there is a policy for the poor and homeless. Here in Kenya, homelessness is really not a big issue. This, therefore, is the best Bill that will assist those who will want to trade in Treasury Bills. My good friend, hon. Nyenze said that we are discovering minerals. He said we have titanium in Kwale, oil in Turkana and we hope that we may also get something in Baringo and Nyakach. There is no reason why we should not get oil in Nyakach and Baringo when a small lake in the North of Uganda called Albert, which used to be called Lake Idi Amin, has a lot of oil in that area. This is because of the amount of hydro-carbons. There are a lot of hydro-carbon deposits in the entire lake basin accumulated for millions and millions of years. I am told through my research that, when you look at evolution from the pre-Cambrian age up to Jurassic age - which is about 150 million years ago - and then Jurassic, Mesozoic palesoic coming this way, you can get oil. Therefore, oil was zoned around 150 million years ago."
}