2009, ISBN: 9781234627782

Rarebooksclub.com. Paperback. New. This item is printed on demand. Paperback. 44 pages. LC Number: KF26 . B39 2009e OCLC Number: (OCoLC)492120292 Subject: Economic assistance, Domestic … More...

Rarebooksclub.com. Paperback. New. This item is printed on demand. Paperback. 44 pages. LC Number: KF26 . B39 2009e OCLC Number: (OCoLC)492120292 Subject: Economic assistance, Domestic -- United States. Excerpt: . . . orrowers with strong credit. Meanwhile, foreclosure filings continue to skyrocket. Let me pause here for 1 second as well. I met yesterday with community bankers in North Carolina. I happened to be speaking down there at an event for Jim Hunt. I met with my community bankers. I know my colleagues have. And they rightly raise the issue that we talk about banks and how banks are performing. At the community level, many are doing a very fine job. In fact, we had record results on residential mortgages in the month of December. At least in Connecticut they did. So when we talk about banks, we ought to be careful about the pejoratives that we talk about when many at a certain level are functioning, doing a good job, and I want at this moment to reflect that concern because I think it is a legitimate one. Last week, to go further, the Senate passed an amendment that I and Senator Mel Martinez, my friend from Florida, and others offered to the economic stimulus package that requires at least 50 billion of funded provided under the TARP program be used to prevent home foreclosures. Let me also commend Senator Martinez because he added language there to deal with servicers that we also think will make a major contribution toward relieving the pressure of the foreclosure crisis. I want to commend the Secretary for recognizing the need to provide immediate results for homeowners. But the banks also need to do their part as well so that families can access the credit they need to pay for a home, a car, a college education for their children, and businesses can stock inventory and meet payrolls. In addition to credit comes confidence, the second of these words. Rather than increasing confidence in the banking system, the piecemeal, lurching interventions of the previous administration scared away private so. . . This item ships from La Vergne,TN., Rarebooksclub.com<