Political Quotes

“Mr. President, I thank the bipartisan cosponsors of this amendment, including Senator Snowe, Senator Scott Brown, and Members on both sides--my colleague, Senator Klobuchar, will be speaking in a moment--Senator Begich, Senator Boxer, as I mentioned, Senator Kerry, Senator Franken, and Senator Schumer. I would like to applaud my colleague from Tennessee. Virtually every word that Senator Corker stated tonight is an argument for this amendment that Senator Klobuchar and I are cosponsoring. I will get into the details later because I want to yield time to my colleague from Minnesota and then my colleague from Connecticut to speak to the bill. Then I will offer my remarks. I do think it is important to recognize that the bulk of what Senator Corker addressed goes right to the heart of this amendment as well. There is a point of distinction between the two amendments, a critical point of distinction; that is, the 5-percent underwriting absolute line. That line is a line of great concern for those of us who have had experience with first-time home buyers, those who have had experience with families who are at the bottom of the income spectrum. I should make it clear that the downpayment is only a portion of the skin in the game that such families have because there are tremendous closing costs associated with these loans that the families must bear as well. So the inflexibility of that standard is a great concern and a great point of distinction between these two amendments.…”