Political Quotes

“Mr. President, this amendment would essentially force the wind-down of Fannie Mae and Freddie Mac prematurely without any structure to take their place. The Banking Committee has heard from witnesses, including Dwight Jaffee and Mark Zandi, that taking over Fannie Mae and Freddie Mac were the only options the government would have to avoid a complete market collapse. This amendment could plunge us back into the panic of 2008, when credit was unavailable and the economy was on the verge of collapse. Mortgages would not be finalized, home sales could not go through, and the home owners would be unable to refinance. The Vitter amendment would eliminate any stability we have achieved in the housing market. The Vitter amendment is an irresponsible response to the housing crisis, and I urge my colleagues to oppose this amendment. I ask unanimous consent to have printed in the Record a letter from the National Association of Realtors, and a letter from the Mortgage Bankers Association. There being no objection, the material was ordered to be printed in the Record, as follows: Mortgage Bankers Association, Washington, DC, October 20, 2011. Hon. Harry Reid, Majority Leader, US Senate, Washington, DC. Hon. Mitch McConnell, Minority Leader, US Senate, Washington, DC.…”