Blunt: Democrats´ Housing Schemes Bail-Out Lenders, Do Nothing to Stabilize and Strengthen Housing Market

WASHINGTON, May. 07 /PRNewswire/ --

WASHINGTON, May 7 /PRNewswire-USNewswire/ -- House Republican Whip Roy Blunt (Mo.) issued the following statement today as House Democrats brought their leadership's housing package to the floor - a pair of bills that reward speculators, bail-out irresponsible lenders, and force honest taxpayers to underwrite the reckless actions of others:

"What started as a genuine effort by Republicans to work with Democrats to stabilize and strengthen the current housing market has turned into a one-sided Democratic monologue about how best to bail-out the individuals and lenders that caused the problem in the first place. That's hardly fair to the millions of Americans who worked hard and paid their bills in full and on time.

"Republicans in the House believe that people ought to be in a position to buy, sell and own homes -- not governments. But under one of their bills, taxpayer resources would be used to flip foreclosed properties and bail-out the lenders who currently hold them. The federal government is already the worst landlord in America - thanks to Democrats, it'll have a chance to be the worst mortgage broker in America as well.

"How proposals like these will help the housing market or address the anxiety of homeowners is far from clear. What is clear, though, is the plans before us today may actually help plant the seeds for a reprisal of this housing downturn in the future."