[Congressional Record (Bound Edition), Volume 158 (2012), Part 1]
[Senate]
[Page 1266]
[From the U.S. Government Publishing Office, www.gpo.gov]




                    MORTGAGE FORECLOSURE SETTLEMENT

  Mr. REID. Mr. President, I received a call from Secretary Donovan, 
the Secretary of Housing, indicating that Nevada was part of the 
settlement. It is in all the newspapers today. It appears Nevada will 
get about $1\1/2\ billion to work out our foreclosure problems in 
Nevada. We have led the Nation for years in foreclosures. We are not 
proud of that, but it is a fact.
  For many years, we were the economic driver of the States. No State 
did better economically than Nevada for two decades. If you want a good 
job, come to Nevada. If you want to invest in real estate, come to 
Nevada or if you wanted to start a small business, come to Nevada. The 
collapse on Wall Street has hurt our housing market. We have not yet 
recovered. I commend the attorney general of Nevada, Catherine Masto, 
who was a fine lawyer before she became attorney general and has only 
become better with the work she has done. She negotiated this. I am 
very proud of her and confident the work she did will bring dividends 
to the beleaguered housing industry in Nevada.

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