Political Quotes

“I yield 5 minutes to the gentleman from North Carolina (Mr. McHenry), the sponsor of this bill. Mr. McHENRY. I thank the gentlewoman for yielding the time. The HAMP Termination Act, which is the legislation before us today, ends what I believe to be a failure of a government program. Not just a failure to help those 3 to 4 million homeowners that the Treasury originally set out to assist, and they've fallen well short of it--just over 500,000 mortgage modifications have taken place in the 2 years it's been in existence. Not only has it been a failure in terms of the metrics they set up to achieve the goal; it's been a failure for the very people who enter into the program and yet are pushed out. Now, I want my colleagues to understand what this government program does. The HAMP program, the Home Affordable Mortgage Program, brings folks in who are having trouble making their mortgage payments. They bring folks in, and they will give them a verbal modification for their mortgage. And what has happened--and this is what my constituents tell me and this is what the hard facts and the data indicate as well--is that a majority of those folks that enter into this program are actively harmed by this Federal program. Actively harmed. They are left materially worse off. And let me quote from the Special Inspector General for TARP, Mr. Neil Barofsky, who is a very independent-minded individual.…”