Sunday, January 30, 2011


McHenry - 'no program is going to help you as much as a job can help you' Rep. Patrick McHenry (R-N.C.), chairman of the Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs, discussed the fallout from the recently-released Financial Crisis Inquiry Commission report. McHenry fielded questions from Congressional Quarterly's Steven Sloan and the Washington Post's Neil Irwin. Asked whether he would like to re-litigate the bank bailout, McHenry declined. "I've had my ask those questions," he said, "I think people have pretty well made up their minds." McHenry went on to say that the reason most Americans cannot keep their homes is the "economic situation," more so than any government program. McHenry did not provide any specific policy solution when asked for one, saying foreclosures were due in large part to individuals having lost their jobs, not policy decisions. "It's an awful thing to say ... but if you don't have a job, no program is going to help you as much as a job can help you," said McHenry. By Aaron Blake & Emi Kolawole

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