I think those funds were being used for public purposes. And they have now been diverted to essentially private purposes by building up the capital of the banks.
Editor's note · Context
Capuano expresses concern over funds meant for public housing being diverted to bank capital.
Share & report
More from Mike Capuano
Mr. Speaker, the details of this bill, getting rid of HMDA requirements, do you not care about discrimination? Do you not recognize that it is real and that it exists? But, apparently, you don't care. Do you not care that your constituents…
I am particularly opposed to this bill because in New York State, we have a powerful securities fraud law, called the Martin Act.
You have enough staffing, you have enough funding, you get along with OMB. Well, and again, I don't--I am not even sure I can ask you this question, because you haven't been there long enough.
Elliot Richardson quit. When the President of the United States ordered him to take action he found to be immoral, he quit his job.





