Thursday, March 13, 2008

From the Scary Quotes Department..

Chuckles Schumer on Congress and the White House proposed stronger rules affecting mortgages and mortgage backed securities (which, by the way, will certianly result in more expensive money and less available capital, which they will in turn complain about as the poor again can not afford houses, but I digress...)

Senator Charles E. Schumer, the New York Democrat who is a member of theBanking, Housing and Urban Affairs and Finance committees, was both positive and critical about the proposals, saying in a statement: “The administration is finally moving towards where Congress was last year. The good news is, they’re beginning to put their toe in the water when it comes to government involvement to help the
The bad news is, they’re going to have to do a lot more than that to
address the problem. We need government action not only to solve the current
crisis, but also to prevent a future one.”

No comments: