Congressional Record United States Th of America PROCEEDINGS and DEBATES of the 112 CONGRESS, SECOND SESSION
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E PL UR UM IB N U U S Congressional Record United States th of America PROCEEDINGS AND DEBATES OF THE 112 CONGRESS, SECOND SESSION Vol. 158 WASHINGTON, TUESDAY, FEBRUARY 7, 2012 No. 20 Senate The Senate met at 10 a.m. and was appoint the Honorable RICHARD vada is 400 percent of the national av- called to order by the Honorable RICH- BLUMENTHAL, a Senator from the State of erage. ARD BLUMENTHAL, a Senator from the Connecticut, to perform the duties of the Behind those statistics are people. State of Connecticut. Chair. Whether it is Nevada, Arizona, Florida, DANIEL K. INOUYE, President pro tempore. Michigan, or anyplace else in the coun- PRAYER try, statistics are people—families who Mr. BLUMENTHAL thereupon as- The Chaplain, Dr. Barry C. Black, of- bought homes where they could raise sumed the chair as Acting President their families and enjoy life. Many Ne- fered the following prayer: pro tempore. Let us pray. vadans, like other Americans who Gracious God, from whom comes f worked hard, saved money and shopped every good and perfect gift, we turn RECOGNITION OF THE MAJORITY responsibly, are now so far under water our hearts to You, our refuge and LEADER they can’t see a way out. strength. Lord, lead our Senators So who is responsible? There is plen- The ACTING PRESIDENT pro tem- today in the ways of peace. Plant peace ty of blame to go around. Brokers sold pore. The majority leader is recog- in their hearts, freeing them from self- loans that could never be repaid, buy- nized. ishness and enmity and strengthening ers bought houses they couldn’t afford, them with generosity and kindness. f and banks bought bad loans to sell to investors. Regardless of who is at fault, Bring peace to our world so the weap- SCHEDULE ons of destruction will become tools of millions of homeowners who did every- construction and people will experience Mr. REID. Mr. President, following thing right are still on the hook for a a shared destiny of hope and pros- leader remarks, the Senate will be in a financial crisis they didn’t cause. Many perity. In a special way, bless the mem- period of morning business until 12:30 of them have never missed a payment. bers of our Armed Forces and their p.m. Republicans will control the first Unlike some Republicans, I don’t be- families. Sustain them with Your ever- 30 minutes, the majority the final 30 lieve the answer is to throw up our lasting arms. minutes. hands and do nothing. Homeowners We pray in Your merciful Name. The Senate will recess from 12:30 who have watched their equity evapo- Amen. until 2:15 p.m. for our weekly caucus rate don’t have time to watch the mar- meetings. ket hit rock bottom, as one Republican f We hope to begin consideration of a candidate suggested. The President and PLEDGE OF ALLEGIANCE number of matters, including the sur- Congress have taken action to ease this face transportation bill, during today’s crisis. Not everything we have done to The Honorable RICHARD BLUMENTHAL session. led the Pledge of Allegiance, as follows: ease the crisis has worked, but we need f to continue programs that are working I pledge allegiance to the Flag of the and fix the ones that aren’t. I support United States of America, and to the Repub- FORECLOSURE CRISIS lic for which it stands, one nation under God, the President’s efforts to reduce the indivisible, with liberty and justice for all. Mr. REID. Mr. President, in this hurdles to financing, and refinancing, country, owning a home means more for sure. Nearly 15 million Americans f than a roof over your head. It is the could benefit from refinancing their APPOINTMENT OF ACTING centerpiece of the American Dream. loans at today’s historically low inter- PRESIDENT PRO TEMPORE For many responsible Americans, the est rates. The PRESIDING OFFICER. The dream of home ownership has become a We must keep those who have lost clerk will please read a communication nightmare. When Wall Street greed their jobs from losing their homes as to the Senate from the President pro collapsed the economy in 2008, the well. This proposal will help them re- housing market also collapsed. That duce their monthly payments and save tempore (Mr. INOUYE). The legislative clerk read the fol- meant free-falling home prices and a thousands of dollars every year. And lowing letter: staggering number of foreclosures. for families who owe more than their No State in the Union was hit harder house is worth, it will help them re- U.S. SENATE, than Nevada, but California was hit ex- build the equity they lost because of PRESIDENT PRO TEMPORE, Washington, DC, February 7, 2012. tremely hard, Michigan, Arizona, and the collapse in the housing markets. To the Senate: Florida. But for 5 consecutive years, Redtape should no longer keep re- Under the provisions of rule I, paragraph 3, Nevada has led the Nation in fore- sponsible homeowners from refinancing of the Standing Rules of the Senate, I hereby closures. The foreclosure rate in Ne- their loans and restoring their futures. ∑ This ‘‘bullet’’ symbol identifies statements or insertions which are not spoken by a Member of the Senate on the floor. S361 . VerDate Mar 15 2010 23:52 Feb 07, 2012 Jkt 019060 PO 00000 Frm 00001 Fmt 4624 Sfmt 0634 E:\CR\FM\A07FE6.000 S07FEPT1 smartinez on DSK6TPTVN1PROD with SENATE S362 CONGRESSIONAL RECORD — SENATE February 7, 2012 Redtape, I repeat, should no longer than in scoring a tax cut that millions Mr. MCCONNELL. Mr. President, I keep responsible homeowners from re- of middle-class Americans are counting suggest the absence of a quorum. financing their homes and restoring on. The ACTING PRESIDENT pro tem- their futures. When the majority leader of the Sen- pore. The clerk will call the roll. There are some who advocate a do- ate suddenly announces he is working The legislative clerk proceeded to nothing policy. There is nothing we on a proposal of his own to extend this call the roll. can do to help. They couldn’t be more tax cut, even as the conference com- The PRESIDING OFFICER (Mr. wrong. Here is one example. My Nevada mittee is in the midst of negotiating a MANCHIN). The Senator from Vermont. offices have posted several foreclosure bipartisan solution that everybody can Mr. LEAHY. Mr. President, I ask workshops. More than 2,000 people have support, I think it is pretty obvious that the order for the quorum call be taken the opportunity to sit down and where the problem lies. It is with the rescinded. face their lenders—often for the first Democratic majority and a President The PRESIDING OFFICER. Without time. Several thousand more have got- who we thought were elected to lead. objection, it is so ordered. ten help from caseworkers in my office. I think most Americans would expect Caseworkers and owners have worked that at a moment such as this, when a f together literally to save homes from solution to a pressing problem is JUDICIAL NOMINATIONS the auction block. I am hosting an- sought, the majority party bears the other workshop in Las Vegas this Sat- responsibility to find it. It is worth Mr. LEAHY. Mr. President, I see the urday. noting that in the House, the majority distinguished Senator from Oklahoma We can’t help everyone, but we must party did its work and passed a 1-year and I know he is waiting to go and I ap- do more to help those we can. It is time extension. Yet all we get from the preciate his courtesy that I might go for more Federal action. It is time to Democratic majority in the Senate are first. Let me speak in my capacity as give homeowners in every State the exaggerated claims, ad hominem at- chair of the Judiciary Committee. tools they need to hold on to their tacks, and false accusations aimed at Two weeks ago, when the Senate con- homes and to hold on to the American delaying a solution rather than achiev- firmed only 1 of the 19 judicial nomina- Dream. ing one. tions on which votes were delayed from last year, I urged Senate Republicans f So I would remind my friend the ma- jority leader that the particular piece to join with Democrats and take long RECOGNITION OF THE MINORITY of legislation he railed against yester- overdue steps to remedy the serious va- LEADER day as an effort to poison people has cancies crisis on Federal courts The ACTING PRESIDENT pro tem- broad bipartisan support, including 12 throughout the country. Nearly 1 out pore. The Republican leader is recog- Democratic cosponsors here in the Sen- of every 10 Federal judgeships is va- nized. ate—and rightly so in the midst of a cant. Nonetheless, Senate Republicans Mr. MCCONNELL. Mr. President, I jobs crisis. We should seize every op- refuse to consent to votes on consensus suggest the absence of a quorum. portunity we have to help job creators nominees who could fill many of those The ACTING PRESIDENT pro tem- at a time when more than 13 million vacancies without further delay. These pore. The clerk will call the roll. Americans are looking for work and are well-qualified judicial nominees The legislative clerk proceeded to can’t find it. who were reported unanimously by the call the roll. The only thing controversial about Judiciary Committee many months Mr. MCCONNELL. Mr. President, I this proposal—the only thing con- ago; there has been no explanation for ask unanimous consent that the order troversial about this proposal—is the the delay in their confirmation.