Senate Floor Speech
Senator Kay Bailey Hutchison
July 26, 2008
SENATOR HUTCHISON DISCUSSES THE FORCLOSURE PREVENTION ACT
MRS. HUTCHISON. Mr. President, newspapers across the political spectrum, from the Wall Street Journal to the Washington Post, have questioned the desirability of a GSE bailout. The Washington Post editorialized that the bill would ``potentially increase the very risks the plan is intended to mitigate'' and asked: ``Wouldn't it be wiser to revamp the whole GSE structure, rather than construct an increasingly elaborate apparatus to address--or conceal--the fact that it no longer works very well?''
Mr. President, I ask unanimous consent to have printed in the Record at this point the Wall Street Journal editorial of July 24.
Mr. President, there are 800 billion reasons why we ought to take our time to consider this bill. I think we should help alleviate the housing crisis, and I think most of this bill is good and solid, but it adds to the regulatory burden.
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