Oct. 6, 2008
Home Builders Strongly Back Bailout Plan
By Huntingtonnews.net Staff
To absolutely nobody's surprise, the House adoption of the Emergency Economic Stabilization Act of 2008 was strongly endorsed Friday, Oct. 3 by the 235,000-member National Association of Home Builders (NAHB). The bill, which was approved by a 263 to 171 vote, was immediately signed into law by President Bush.
“This legislation was absolutely essential to prevent a collapse in our financial system that would have inflicted devastating damage to our nation’s economy,” said Sandy Dunn, NAHB chairman and a home builder from Point Pleasant, WV.
“Hopefully, this will set the stage for rebuilding confidence, restoring the availability of credit for businesses and consumers, and reversing the downward spiral in home prices and rising foreclosures that are root causes of today’s financial turmoil,” Dunn added. “We will continue to work with lawmakers on both sides of the aisle to take whatever other steps are necessary to put housing and the economy back on track.”
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Home Builders Strongly Back Bailout Plan
By Huntingtonnews.net Staff
To absolutely nobody's surprise, the House adoption of the Emergency Economic Stabilization Act of 2008 was strongly endorsed Friday, Oct. 3 by the 235,000-member National Association of Home Builders (NAHB). The bill, which was approved by a 263 to 171 vote, was immediately signed into law by President Bush.
“This legislation was absolutely essential to prevent a collapse in our financial system that would have inflicted devastating damage to our nation’s economy,” said Sandy Dunn, NAHB chairman and a home builder from Point Pleasant, WV.
“Hopefully, this will set the stage for rebuilding confidence, restoring the availability of credit for businesses and consumers, and reversing the downward spiral in home prices and rising foreclosures that are root causes of today’s financial turmoil,” Dunn added. “We will continue to work with lawmakers on both sides of the aisle to take whatever other steps are necessary to put housing and the economy back on track.”
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