Politics

On Geithner Announcement of Financial Stabilization Plan

By Speaker Pelosi

The Obama Administration?s comprehensive financial system stabilization plan recognizes the need, for the first time at the presidential level, to address foreclosures systematically and effectively.

Restoring the flow of credit to consumers and small businesses, helping homeowners avoid foreclosure, and increasing transparency and accountability to taxpayers are all essential for the stability of our financial system and for our eventual economic recovery.

The President?s plan hits the right notes and builds on Congress? efforts to bring transparency and accountability to this process. Congress and the Administration are also united in our commitment to provide substantial housing foreclosure assistance to people most in need. This commitment must move quickly to action.

We are ready to work with President Obama and Secretary Geithner on all aspects of the proposed plan so that our economy can begin to grow and create jobs for American workers again.

Full post as published by The Gavel on February 10, 2009 (boomark / email).