Political Quotes

“Madam President, let me deal, first of all, with the HOPE for Homeowners Program. I raised earlier this morning--and I will do it again, if necessary--that 8,427 people as of today will file for foreclosure. That number was for every day in the month of May. That is in excess of the numbers back in April and even back in March. But they are growing. So every single day we delay moving on this, we have, on average, again, some 8,000 to 9,000 people in our country who are entering the foreclosure process and losing their homes, and 1.5 million people have already. We have been told and warned by those who acknowledge and follow these issues that this is a crisis that is not shrinking; it is growing. It is growing by the hour, let alone by the day. The HOPE for Homeowners Act that Senator Shelby and I and 17 others of our committee have fashioned together--very similar to what the other body has done--is designed specifically to offer some relief to these people facing foreclosure. Both lenders and borrowers will take what is called a ``haircut.'' It will be painful. It will not be easy. It is voluntary. It is temporary. But it offers some hope that we can put the brakes on this ever-escalating problem of foreclosures in our country.”