housing crisis

March 28, 2008 - 9:56am

Menendez warns Bush not to use N.J. as a photo op

President Bush will visit New Jersey today, speaking in Freehold to tout a new mortgage hotline.  But U.S. Sen. Robert Menendez says Bush should have joined him a year ago when he began sounding “alarm bells on the housing crisis.”

“For more than a year, this tsunami of foreclosures has washed away the American dream for millions. The president has bent over backward to stabilize Wall Street, but he has never exerted much effort on helping the homeowners on Main Street,” said Menendez, a member of the Senate Banking Committee. “Homeowners across the country are drowning in out-of-control mortgage payments. The president must finally realize that their dire situation not only threatens to take away the American Dream from millions, it also has a direct effect on property values, on the credit crisis and on our entire slumping economy.

more >

MENENDEZ: ECONOMY STILL NEEDS STRONG HOUSING RESPONSE

Release Date: Mar 18 2008

Newark, NJ – U. S. Senator Robert Menendez (D-NJ), a member of the Senate Banking Committee, issued the following statement in the wake of the Federal Reserve interest rate cut and the recent purchase of Bear Stearns Co.:

Syndicate content