Political Quotes

“the statements of the chairman of the Committee of Banking, Housing and Urban Affairs are indeed consistent with the intent of the conferees. Indeed, devolving responsibility and decisionmaking to the State and local level is one of the primary goals of this mark to market legislation. Not surprisingly, that is also the reason for the priority in selecting State and local housing finance agencies to be PAE's. The decisions made by these entities will have long-term consequences. The PAE's therefore should be granted great deference in assessing the impact of these decisions on local housing markets. Also, I would reiterate the Senator's statement on the importance of resident and owner involvement in the decisionmaking process. We believe the local PAE's will be in a better position to make these determinations than Federal officials at HUD or the Office of Management and Budget.”