Revolutionary War And War Of 1812 Battlefield Protection Act - Continued

Floor Speech

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Mr. DURBIN. Mr. President, I am going to object to this unanimous consent request. The reason is that the provision that has been referred to by Senator McConnell, the Republican leader, relative to the Bankruptcy Code is one that is in negotiation at this very moment.

When this measure was called before the Senate last year, there were some who ominously predicted we could be losing some 2 million homes to foreclosure in America. The most recent estimate of Goldman Sachs is that 13 million homes will be lost to mortgage foreclosure in the next 5 years.

The efforts underway to revise the bankruptcy law to provide for authority in that court in specialized circumstances is one to prevent and preclude these foreclosures from occurring. That is actively under consideration. It is included in the House bill that I will subsequently ask to be approved by unanimous consent, and it is one supported by the chairman of the Banking Committee, Senator Dodd, as well as many others.

I would hate to see us lose an opportunity to deal with this looming foreclosure crisis by agreeing to this unanimous consent request. I object.

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