- Congressman Spencer Bachus (R-AL), the top Financial Services Committee Republican, issued this statement following President Barack Obama's speech laying out his administration's plan to address the housing crisis:

"I applaud the president for his commitment to help keep American families in their homes. However, I strongly urge him to ensure that borrowers and lenders who made bad decisions are not rewarded at the expense of the more than 90 percent of working-class American families that are still making their mortgage payments without government assistance. I'm also hopeful that the president will seek true, bipartisan solutions - with Democrats, Republicans and all stakeholders at the table - in tackling our housing problem."

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NOTE: House Republican Leader Boehner and Whip Cantor wrote President Obama, outlining Common Sense Questions That Americans Deserve to Know about the Administration's Housing Plan. Click here to view their letter.