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Issue link: http://digital.themreport.com/i/57493
FINAL THOUGHTS 'Those executives should not be living like fat cats while many Alaskans and other Americans are struggling to pay their bills, send their kids to college, and make the mortgage payment." SEN. MARK BEGICH (D-ALASKA), speaking out against large GSE bonuses "We refuse to stand by as this president arrogantly casts aside our Constitution and defies the will of the American people under the election-year guise of defending them." SEN. JOHN CORNYN (R-TEXAS), in an open letter to lawmakers opposing President Obama's recent recess appointments Final Thoughts Captivating commentary from the campaign trail and Capitol Hill addresses the government's role in the mortgage and housing industries, with recent moves by the Obama administration prompting a backlash from politicians and financial institutions. "Those running for office in November need to understand that voters will not look kindly on any candidates who seek to dismantle the nation's long-term commitment to homeownership." BOB NIELSEN, NAHB president and a Reno-based homebuilder, commenting on recent political statements regarding the government's role in the mortgage and housing industries "Borrowers will simply run out of time and resources. The banks' earnings will be insufficient to sustain capital, and many banks will be unable to raise enough capital. We believe there needs to be significant capital-raising for those that can, or they must engage in mergers and acquisitions." KAMAL MUSTAFA, chairman and CEO for Invictus Consulting Group, commenting on the company's evaluation of hundreds of American banks "I will ask [Congress] to immediately pass the repeal of the Dodd-Frank bill, which is killing housing, killing small businesses, and killing independent banks." Republican presidential contender NEWT GINGRICH, stating his intention to repeal the Obama administration's financial reform laws 80 | THE M REPORT "It is worrying that overall prices have continued to drop at an accelerating rate." PAUL DALES, senior U.S. economist with Capital Economics, weighing in on home pricing statistics to end 2011 "Unfortunately, too many of the solutions [Obama] proposed rest on higher taxes, more spending, and an avalanche of new regulations. The way to create the jobs Americans need is to grow our free enterprise economy, not to further expand the federal government." THOMAS DONOHUE, president and CEO of the U.S. Chamber of Commerce, in a statement responding to President Obama's State of the Union address "It's going to help in terms of the housing recovery to keep affordability as low as humanly possible . . . . There's no doubt it's good for housing." TIM ROOD, partner with The Collingwood Group and former EVP for Fannie Mae, giving his opinion regarding the Federal Open Market Committee's decision to keep interest rates low through 2014