[Congressional Record (Bound Edition), Volume 155 (2009), Part 3]
[House]
[Page 4199]
[From the U.S. Government Publishing Office, www.gpo.gov]




          IF WE WORK TOGETHER, WE CAN PUT AMERICA BACK TO WORK

  The SPEAKER pro tempore. Under a previous order of the House, the 
gentlewoman from New York (Mrs. Maloney) is recognized for 5 minutes.
  Mrs. MALONEY. Mr. Speaker, today we took a historic step toward 
economic recovery, and four financial giants took another important 
step in announcing that they will impose a moratorium on mortgage 
foreclosures.
  In response to a request from Congress during hearings chaired by 
Chairman Frank, CitiGroup, Morgan Stanley, J.P. Morgan, and Bank of 
America today announced plans to suspend foreclosures for the next few 
weeks or until the President's new plan is in place.
  These actions create breathing space to allow the new administration 
to develop and the private sector to implement a new plan to reduce 
foreclosures and to help Americans stay in their homes.
  We cannot solve our economic crisis until we solve our housing 
crisis. And leaders of our financial sector have the ability and 
responsibility to help lead our recovery.
  As a representative from the State of New York, I applaud these New 
York financial institutions for being the first to step forward and 
take up this challenge. And I urge all other mortgage institutions to 
follow their example, to take similar steps to help Americans stay in 
their home.
  Mr. Speaker, I would also like to really underscore the importance of 
the vote, the historic vote that we had a chance to vote on today. And 
I cast a ballot to help create 3.5 million new jobs and give tax 
credits to 95 percent of working Americans. This was a chance to begin 
to move our country forward by investing in and modernizing our health 
and education systems, and we can do it in a way that is accountable 
and transparent, as the legislation required. And as I noted, the 
private sector is also playing a crucial and important role.
  If we work together, we can put America back to work.
  Thank you very much.

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