Political Quotes

“I would like to address two things that the minority has raised. One is they've talked about fairness. And I will tell you that there's nothing fair about this program. In fact, it's an unfair program. It's unfair for most Americans. The second thing they've talked about is foreclosures. This program causes foreclosures. This program encourages foreclosures. This program promotes foreclosures. Now let's talk about the foreclosures first and then we'll talk about fair. What does this program do? Does it prevent foreclosures? No. It encourages foreclosures. It allows nonprofits, community organizations, and cities and counties to buy foreclosed properties. In other words, to create a market for foreclosed properties. The minority supplied us with pictures of two of these properties. This is the one in Baltimore, Maryland. This was one of two. I think the other one was in Los Angeles, as I recall. This is the property. Now, just like all these properties, it's not owned by a homeowner. There's no homeowner there. It's owned by a bank or a real estate speculator. It might have been somebody that put someone in this house with what we call an exploding loan. Put someone in that house that couldn't afford it. So, what do we do?…”