MBA's Courson: Negotiators need to regroup, find common ground on economic stabilization package MortgagePress.comMBA, economic bailout, John Courson, HR 3997, Emergency Economic Stabilization Act of 2008
John A. Courson, Chief Operating Officer of the Mortgage Bankers
Association, has issued the following statement following the House
of Representatives' failure to approve HR 3997, the Emergency
Economic Stabilization Act of 2008.
"We hope Congressional and Administration negotiators will
immediately regroup and find common ground upon which they can
build a new agreement. Restoring liquidity to the credit markets is
crucial to both stabilizing Wall Street and keeping the U.S.
economy moving forward.
"The credit crunch is not only preventing financial institutions
from being able to access capital but is also preventing large and
small businesses from being able to borrow money, money they use to
operate their businesses, upgrading facilities and equipment and
hiring and paying workers. If businesses don't have access to that
capital, they will stop growing and the economy will stagnate."
For more information, visit www.mortgagebankers.org.