Senator Robert Menendez Reacts To Treasury Secretary Paulson's Remarks On Mortgage Crisis
By newsdesk - Posted on October 17th, 2007
October 16, 2007 -- WASHINGTON – Treasury Secretary Henry Paulson today spoke about the nationwide mortgage crisis in a speech at Georgetown University, outlining the issues and the administration’s response. U.S. Senator Robert Menendez (D-NJ), a member of the Senate Banking Committee, released the following statement:
“Millions of American homeowners are getting crunched by ticking-time-bomb mortgages, and they have yet to see their government take the necessary action. Secretary Paulson’s new-found openness to loan modifications is a positive step. However, it seems that every bold action this administration has taken has been to soften the blow for investors. The people who really have something to lose – the homeowners – are still struggling in this subprime storm.”
Source: Senator Robert Menendez
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