[Congressional Record (Bound Edition), Volume 154 (2008), Part 4]
[House]
[Pages 4643-4644]
[From the U.S. Government Publishing Office, www.gpo.gov]




    BUSH ADMINISTRATION PROPOSAL ON CREDIT CRISIS NOT NEARLY ENOUGH

  (Ms. CASTOR asked and was given permission to address the House for 1 
minute.)
  Ms. CASTOR. Madam Speaker, in these challenging economic times, 
Americans everywhere are feeling the negative impact of President 
Bush's economic policies. More Americans are looking for work, millions 
have lost their homes or they are at risk, gas prices are at an all-
time high, and in Florida property insurance is out of sight.
  Now, the House has already taken action to address these issues, the 
housing crisis, credit, gas prices, but the Bush administration has 
been silent, or they have been actively opposed. That is until 
yesterday, when Treasury Secretary Paulson finally offered a proposal. 
But one bank analyst back home cautioned that the proposal is a 
political ploy. The Bush administration is just trying to reassure 
consumers that it has the financial crisis under control. ``All he's 
doing is moving the deck chairs,'' he said.
  Well, I am very concerned as well that the announcement falls short 
in one key area. It does not address the immediate needs of American 
homeowners facing imminent foreclosure and the impact on our 
neighborhoods and communities.
  We are going to work over the next few months for real action, as 
opposed to President Bush's hands-off approach.

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