John Conyers: “Mr. Chairman, we have two points of view here, one that the American people are being robbed, and the second one is that…”

“Mr. Chairman, we have two points of view here, one that the American people are being robbed, and the second one is that the 65 million homeowners are going to be diminished because their tax dollars are going to go out to pay speculators on their property values. I think that the attorneys general in the several States and the others who have joined in opposition to this bill are really more aware of the fact that this is going to hurt property owners rather than help them. Forty States have rejected takings legislation, 32 attorneys general have opposed it, and this measure is opposed with letters that have just come in from throughout the government. From the Environmental Protection Agency we have a statement in opposition. The Interior Department has weighed in. We have comments from others as well that we are going to make available to the Members as we come across them. The Department of Justice has now taken a position. So we know where the interests of the ordinary homeowners lie; they lie in opposition to this big ripoff for speculators, for polluters and for mining interests in America.”