Hillary Clinton Statement on Resignation of Secretary Alphonso Jackson

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3/31/2008 -- "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."

Source: Hillary Clinton campaign