Political Quotes

“the smoke is housing crisis foreclosures. The fire is the general economy because the housing crisis has caused the economy to be in a state of distress. The chairman of the Banking Committee, Senator Dodd, made such an outstanding presentation this morning where he talked about almost 8,000 homes every day--today, tomorrow, and the foreseeable future--will be foreclosed upon, not the beginning process of foreclosure, but the termination of foreclosure. Someone by the name of Jones, Smith--whatever their name might be--will lose their home, a family home. What does that do to the neighborhood? Every time there is a home foreclosed upon, it immediately causes the rest of the neighborhood to be worth less money. What does it do to the government entity where that home is located? The government entity loses the ability to get tax money. No one benefits from foreclosures. This is a step in the right direction. In Nevada, for example, 1 out of every 165 homes was in foreclosure in February. Can you imagine that, 1 out of every 165 homes. That is the highest rate in Nevada. We are fortunate we have a lot of construction that is not housing related that is going to pull us through this situation. It is important that we move forward on this legislation.”