Feeney Blames Homeowners for Housing Crisis

Feeney Sides with Banking Buddies Against Floridians

For Immediate Release: April 4, 2008

TALLAHASSEE - Disgraced Republican U.S. Rep. Tom Feeney (FL-24) showed once again that when it comes time to choose between Florida's homeowners and big business, he'll pick his special interest friends every time.

In a Wall Street Journal editorial on how to help homeowners face skyrocketing mortgage rates, the paper called Florida "ground zero in the housing downturn," but noted that it didn't stop Feeney from opposing help for homeowners and using the excuse that "My constituents are not terribly sympathetic with borrowers who made bad decisions." [Wall Street Journal, 4/3/08]

In reality, it is Feeney's constituents who are bearing the brunt of Florida's skyrocketing housing costs, combined with the high costs of property taxes and homeowners insurance, and it is Tom Feeney who is "not terribly sympathetic."

This attitude is typical of Tom Feeney who has consistently proved to be a "pay-for-play" Congressman.  

Feeney has taken over $160,000 from the banking industry since being elected to Congress in 2002. [opensecrets.org]  No wonder he is looking out for the interests of big banks and excusing the facts, instead of looking out for the homeowners in his district.

"Tom Feeney continues to put special interests ahead of Floridians. The real shame is Feeney's decision to back big banking interests and leave homeowners out to dry," Florida Democratic Party spokesman Mark Bubriski said. "The people of Florida deserve a leader who will find common-sense solutions to the housing crisis we face with rising mortgage, homeowners insurance and property tax rates. Sadly, Tom Feeney is only sympathetic to the needs of his special interest friends."

Feeney has already shown his failure to address the crisis Florida homeowners are facing. In November, Feeney opposed The Mortgage Reform and Anti-Predatory Lending Act, which ensured that lenders follow sound principles when issuing loans to consumers [H.R. 3915, #1118, 11/15/07],  And just this month, he opposed the FY 2009 budget which creates a reserve fund for affordable housing, paid for through proposed reforms to Fannie Mae and Freddie Mac [H.R. 312, #141, 3/13/08].