Political Quotes

“I rise to recognize the Banking Committee under the leadership of Chairman Barney Frank who, this week, will take us in the direction that this Congress needs to lead the country. They will mark up a bill that will establish a substantial pool of funds that will enable local governments to be able to purchase foreclosed properties and turn them into affordable housing for families desperately in need of housing they can afford in this economy. They will also help families that are on the cusp of losing their homes to be able to keep their homes. This is so important. Mr. Speaker, as many as 7 million families will lose their homes by the end of this year. In fact, mortgage defaults are up by 72 percent. Local governments will lose $7 billion in property tax revenue that they desperately need for public safety and roads and all of the other municipal services that are so important. We are on the cusp of a recession. We need to act quickly and comprehensively to do the right thing. Chairman Frank's committee is doing the right thing. We need to support them.”