Political Quotes

“Mr. Speaker, in 2008, gas prices that rose above $4 a gallon triggered the Wall Street meltdown and housing crisis that continue to plague our country. We're in the same boat today again with gas prices going over $4 a gallon, so be prepared. I rise today to talk about that housing crisis that is devaluing our housing stock across our country and destroying neighborhoods and communities across the Nation. Last week, the New York Times ran a piece I wish to place in the Record highlighting one more twist in this crisis. According to their front page expose, the big banks and mortgage companies have profited even more from the foreclosure crisis by amassing giant ``real estate empires'' that span across our country. So not only do six banks now control two-thirds of the banking system of this country, they've also become real estate magnates, too. When is too much too much? The impact on communities has been devastating. The numbers are simply shocking. In my community alone, over 6,700 more homes are in some type of foreclosure filings. While thousands of America's families are being thrown out on the street, the big Wall Street banks have nearly doubled the number of houses they've taken through foreclosure since the crisis began 5 years ago. That represents nearly 900,000 homes. That's 900,000 more families whose American Dream ended in foreclosure. Sadly, this doesn't include those who are barely hanging on.…”