Statement from Hillary Rodham Clinton

"The administration made a critical mistake when it failed to address the housing crisis as part of its economic stimulus plan, and so it's encouraging that it is now considering proposals like the ones I've been advocating for the last year.

"We cannot jumpstart the economy without addressing the housing crisis. The fact that George Bush is starting to understand that reality but Senator Obama still does not should trouble all those concerned about how the housing crisis is impacting the economy.

"This is something that I recognized early on, and that is why my stimulus proposal called for $30 billion in assistance to states, cities and communities to help them fight foreclosures. It is also why I have called for a 90-day foreclosure moratorium on subprime mortgages, and a freeze of at least 5 years in the monthly payments on subprime adjustable rate mortgages. In addition, I have introduced the Mortgage Refinancing Initiative Act to enable state housing agencies to replace unworkable mortgages with loans that families can afford. I have introduced legislation to modernize the FHA so that it can play a stabilizing role in the housing market. And I have long called for expanding the foreclosure prevention programs at HUD, Fannie Mae, and Freddie Mac.

"I am the only candidate with a comprehensive plan to end the housing crisis. My plan is a workout, not a bailout, that will keep families in their homes and help halt our economy's slide into recession. I have proposed real solutions to the very real problems facing our country. Upwards of 2 million families are at risk of losing their homes. The fall in home values has already erased an estimated $1.6 trillion in household wealth. America needs a president who leads when economic challenges arise. I will be that President, and I will work hard every day to solve our nation's problems."