[Congressional Record Volume 143, Number 28 (Thursday, March 6, 1997)]
[Extensions of Remarks]
[Page E402]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                        TRIBUTE TO AIDA ALVAREZ

                                 ______
                                 

                          HON. JOSE E. SERRANO

                              of new york

                    in the house of representatives

                        Thursday, March 6, 1997

  Mr. SERRANO. Mr. Speaker, it gives me great joy to extend my 
congratulations to Ms. Aida Alvarez on her confirmation to lead the 
U.S. Small Business Administration.
  Ms. Aida Alvarez is the first Puerto Rican woman, also the first 
Hispanic woman, appointed to a Cabinet position in U.S. history.
  Throught her long and distinguished career, Ms. Alvarez has acquired 
the experience and expertise that makes her exceptionally well 
qualified to lead the Small Business Administration [SBA]. ``Small 
business is the heart and soul of the American economy,'' Ms. Alvarez 
said during her acceptance speech after President Clinton nominated her 
to head the SBA.
  Ms. Alvarez was born in Aguadilla, PR, and raised in New York City. 
She learned first hand the importance of small businesses to fulfill 
the entrepreneurial spirit, build stronger communities, and spur 
economic growth. While still a high school student, she helped her 
family by working as a waitress in her mother's restaurant.
  After graduating cum laude from Harvard College, she worked as a 
reporter for the New York Post and Channel Five in New York. Her 
reporting of guerrilla activities in El Salvador won her an Associated 
Press Award for Excellence and an Emmy nomination.
  Ms. Alvarez held executive positions as an investment banker at the 
First Boston Corp. and Bear Stearns and, later on, as Vice President of 
the New York City Health and Hospital Corp.
  Ms. Alvarez served as commissioner on the New York City Charter 
Revision Commission, member of the Governor's State Judicial Screening 
Committee, and as a member of the Mayor's Committee on Appointments. In 
addition, she has served on numerous boards including, the National 
Hispanic Leadership Agenda, the New York Community Trust, and the 
National Civil League.
  Prior to her confirmation as Administrator of the SBA, President 
Clinton appointed Ms. Alvarez to head the newly established Office of 
Federal Housing Enterprise Oversight [OFHEO] in 1993. At OFHEO, she 
implemented regulations to insure the financial safety and soundness of 
the two largest housing finance institutions in the Nation--the Federal 
National Mortgage Association [Fannie Mae] and the Federal Home Loan 
Mortgage Corporation [Freddie Mac]. Her leadership is characterized by 
efficient management.
  Mr. Speaker, I ask my colleagues to join me in commending Ms. Aida 
Alvarez for her outstanding achievements and in wishing her continued 
success as Administrator of the Small Business Administration.

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