OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Our Job Is Not Done

Date: Oct. 3, 2008
Location: Washington, DC
Issues: Finance and Banking Housing and Property


OUR JOB IS NOT DONE -- (House of Representatives - October 03, 2008)

Mr. WILSON of South Carolina. Madam Speaker, today we vote on a piece of legislation that is an imperfect option and a terrible situation. But I hope Congress does not fail the American people by saying that this bill has solved the whole problem, because it has not.

The bad lending practices, mishandling by financial firms and failed oversight by the Federal Government over decades are not addressed today. But we better step forward and address them as soon as possible.

As a former real estate attorney for 25 years, I know firsthand that making home loans to individuals less than creditworthy can be destructive for those individuals and for this country. Government should not be telling banks that it is possible for them to make bad loans because the government will back them up.

Our job is not done today. Going forward, Congress has an obligation to face and fix the roots of this crisis, reducing government control.

In conclusion, God bless our troops, and we will never forget September 11th. God bless Governor Sarah Palin for her service for America.


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