Would the gentlelady tell the Members, when you write that check to help them with their underwater home, that check goes to Bank of America. That check goes to Citibank. That check goes to just fill in the bank, fill in the mortgage company. It goes to whoever loaned the money. It doesn't go to the homeowner. Are they benefited? Yes. And tell the Members of this body who pays for that check. We do. The American people.
Bachus discusses the implications of financial assistance for homeowners and who ultimately bears the cost.
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The intent of Operation Choke Point may have carried a purpose that we would all agree with, and that is to prevent financial fraud.
I think maybe listening to everyone on the panel, I think, and most of the Members on the dais, we all agree that our country, its citizens, and even our immigrants need comprehensive immigration reform.
However, my continued concern is that the program threatens to dry up legitimate sources of credit and financing.
Those left on the short end can often be the people who have the greatest difficulty in getting any credit at all.
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