Political Quotes

“I think it would be useful for the House to understand that dozens and dozens--in fact, the majority of bipartisan attorneys general across the country--filed litigation against mortgage investors who had, in their view, improperly led to millions of foreclosures throughout the country, which is what we saw with the housing market collapse. This was joined in by the Obama administration. A settlement emerged. That settlement this week led, for instance, to 200,000 homeowners having their principals reduced, but this is action that is taking place all across the country, over multiple steps, and millions of families will benefit. The gentleman's amendment says that the people who invested in the mortgage-backed securities are the entities that then hire the servicers, the servicers who were found to have violated the law by improperly conducting their affairs. So they settled with Democrat and Republican attorneys general across the country in a $25 billion-plus settlement that is trying to right a wrong. This amendment says, well, somehow you can't hold the people who are the investors liable for their agent, the servicers, the agents who artificially signed people's names to documents, and on and on and on. I won't recount the activities because I think they're known well. But more importantly, they've really harmed the entire housing market in our Nation.…”