WEEKLY REPORT FROM WASHINGTON BY REP. GOODE, OCT. 8
October 08, 2008
October 08, 2008
WASHINGTON, Oct. 8 -- Rep. Virgil H. Goode Jr., I-Va. (5th CD), issued the following newsletter:
Congress has adopted legislation that gives the Secretary of the Treasury the right to spend $700 billion to buy up risky mortgages that were made by some companies to persons who did not have the resources to afford them. This unwise practice is one of the root causes of the financial difficulties we are experiencing. I also blame those who repeatedly pushed institutions and lenders t . . .
Congress has adopted legislation that gives the Secretary of the Treasury the right to spend $700 billion to buy up risky mortgages that were made by some companies to persons who did not have the resources to afford them. This unwise practice is one of the root causes of the financial difficulties we are experiencing. I also blame those who repeatedly pushed institutions and lenders t . . .