Pelosi Statement on President's Nomination for HUD Secretary

April 18, 2008

Washington, D.C. - Speaker Nancy Pelosi issued the following statement on the nomination of Steve Preston by President Bush to be the next Secretary of Housing and Urban Development (HUD). Preston is currently the Administrator of the Small Business Administration:

"After a long period of inaction by the Bush Administration and the former HUD Secretary, there is no time to waste. American families are at risk of losing their homes and the time to act is now. The President's newly announced Secretary of Housing and Urban Development must demonstrate that he will exercise constructive leadership and provide a fresh perspective to tackle the nation's housing crisis.

"The new Secretary must take strong action to help families facing foreclosure, eliminate abusive mortgage lending practices, and ensure that federal housing initiatives receive sufficient funding.

"House Democrats are moving forward with a comprehensive plan to help families stay in their homes, and we will work with President Bush and his new appointee to tackle our nation's housing and economic challenges."