The Committee is suggesting it needs more time to review newly discovered evidence that it claims may be material to its case. In fact, the Committee has had this ‘new’ document since October 29th, and it does not provide any new significant information. In fact, the document shows that my office was working to ensure that Emergency Economic Stabilization Act assisted small and minority institutions. The document does not reflect any action on behalf of any specific company. Although the Committee continues to insist that the ‘small bank language’ was drafted to benefit only one institution, the facts do not support that assertion; in fact, the documentary record directly contradicts it. As the highest ranking African-American and woman on the Financial Services Committee, my staff and I did what we said we did and what we have always done, which is provide a voice in the process for those who lack it.
Furthermore, since the fundamental purpose of a hearing is to evaluate evidence, I am puzzled at the Committee’s insistence on moving backwards instead of forwards. After beginning its investigation more than a year ago, working to prepare a case for months and realizing it cannot prove wrongdoing, they have resorted to a delay. If this evidence is so damning, the Committee should present its case before the public, as we asked them to do when I first learned of their desire to postpone the hearing. Apparently the Committee now recognizes, as I have maintained, that there was no benefit, no improper action, no failure to disclose, no one influenced, and there is no case.
Also, lastly, I hear today from the lawyers at JALA, the Jacksonville Legal Aid office whose excellent work I profiled in the piece, that their offices are going to be losing three attorneys in January due to a budgetary shortfall. This organization needs donations to survive (as do legal aid offices all around the country), and here’s why this matters; most of the people who are being foreclosed upon actually have ways to fight back if they can get legal representation. The problem is that offices like JALA have a finite number of attorneys, and so are forced to turn back people who come knocking asking for legal help. Each additional attorney, then, can keep dozens of people in their homes. I strongly suggest that anyone who has extra funds give if they can to local legal aid offices in their states, or even JALA in particular (their donation info can be found at www.jaxlegalaid.org), because this right now is crunch time and a little money can go a long way to helping stop the foreclosure bleeding. I myself am making a donation today.
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