let's discuss our system of checks and balances. Congress writes hundreds of billions of checks to the banks, and the banks, it turns out, don't know their own balances. Banks are not lending the money Congress gave them because most banks don't know their own balance sheets. We throw in countless dollars into a bottomless pit, and we're wondering why new lending is not happening. Our Nation's motto is ``In God we trust,'' not ``In banks we trust.'' We must verify what the banks are doing with the money we gave them. We must get concrete assurances that the rest of the bailout funds be used to address the center of the financial crisis in America: That's foreclosures. Foreclosures are devastating the American families. A 41 percent increase in foreclosures in the past year. We must get concrete assurances from the new administration that the final bailout funds will be used to address the foreclosure crisis and help keep millions of Americans in their homes. We must help Americans save their homes.
Editor's note · Context
Addressing the use of bailout funds and the foreclosure crisis during a floor speech.
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