I think there is unanimity in this room and in the United States at this point that the subprime lending issues and the foreclosures that have arisen from that have contributed to the economic downturn we currently face.
Castle acknowledges the consensus on the impact of subprime lending on the economy.
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What should we in the Federal Government be doing versus what the States are doing?
As we work to reauthorize No Child Left Behind--and I hope we do that in the next few months or year or so--we must work to ensure that students are prepared for college or the workforce when they graduate.
Three out of every 10 students fail to finish high school. Barely one-half of disadvantaged minority students graduate from high school.
I don't think the government intervention is an acceptable end as far as this is concerned.
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