Monday, March 31, 2008

HILLARY CLINTON

Hillary: HUD Secretary had 'cronyism, and corrupt contracting practices'

The Bush administration hands the Democratic candidates a handy talking point.

Housing and Urban Development Secretary Alphonso Jackson is expected to announce his resignation Monday, according to people familiar with the matter, a decision that will deal a blow to the Bush administration's efforts to tackle the housing crisis.

The exact reasons for Mr. Jackson's decision couldn't be learned. Earlier this month, two Democratic senators, Patty Murray of Washington and Christopher Dodd of Connecticut, sent a letter to President Bush urging him to request Mr. Jackson's resignation, arguing that accusations of wrongdoing had made him ineffective.

Hillary's reaction:

Secretary Jackson’s resignation ends a tenure at HUD marked by an indifference to Congressional oversight powers, cronyism, and corrupt contracting practices that have no place in our government. Yet while Secretary Jackson’s resignation is appropriate, it does nothing to address the Bush Administration’s wait-and-don’t-see posture to our nation’s housing crisis, which is threatening to drive our economy into a painful recession.

Now is the time for immediate action, not more half-measures and white papers. While I appreciate the Administration’s willingness to acknowledge the need for more regulation of our financial markets, we cannot let a discussion about rearranging the regulatory deck chairs divert us from the fact that our housing and credit markets are in crisis, and are sinking deeper every day that we fail to take aggressive action.

That’s why today I am outlining immediate steps we can take to shore up the housing and credit markets, restore confidence in our regulatory infrastructure, and keep millions of families in their homes. These include smart, near-term regulatory changes that are calibrated to the actual crisis we face. And they include aggressive actions to help restructure at-risk mortgages and keep millions of families in their homes.

What's really remarkable is that amid some sizable problems in the housing market, most Americans couldn't name the Secretary of HUD. Similarly, amid a spike in gas prices, most Americans couldn't name the current Secretary of Energy (Samuel Bodman).

I realize a lot of cabinet secretaries toil outside the spotlight, but wouldn't one expect these guys to raise their profile during crises in their respective fields?

03/31 09:03 AMShare