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PORTER STATEMENT FOLLOWING THE PASSAGE OF THE EMERGENCY ECONOMIC STABILIZATION ACT OF 2008

Washington, DC- Today, the house voted to pass one of the most critical pieces of legislation this Congress, the Emergency Economic Stabilization Act of 2008, which seeks to stabilize the nation's financial markets without putting the burden on the American taxpayer.  Included in this critical legislation are several important oversight components that Congressman Porter authored.

Last week Congressman Jon Porter introduced legislation which called for a Special Commission to investigate the collapse and recovery of our financial markets and related federal agencies.  His legislation on the commission was a provision included in the Emergency Economic Stabilization Act of 2008.  While Porter's commission would have gone further in providing recommendations designed to guard against future collapses within our financial markets, he believes that this is a good step in preventing future challenges like we face today. 

"At this critical moment in our financial future, while we are working as cautiously and expeditiously as we can to help stabilize the economy in a manner that protects taxpayers and homeowners, we also need to learn from this situation to protect us in the future," said Porter. "This commission should have three objectives: additional transparency, accountability and prevention recommendations.  While the underlying bill accomplishes some of these goals, it is incomplete.  We must have a full understanding of what led to this crisis in order to prevent it in the future.  I remain committed to working with my colleagues on both sides of the aisle to ensure that the public does not face the same situation in the future."

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ATTORNEY GENERAL ANNOUNCES ARRESTS IN MORTGAGE LOAN SCAM AGAINST SENIOR CITIZEN

FOR IMMEDIATE RELEASE
DATE:   November 4, 2008

Las Vegas, NV —  Attorney General Cathering Cortez Masto, announced today the arrests of Roxanne Lynette McCoy and Shaease Renee Bauman, employees of Proserve Mortgage.

To read this story, please visit the Attorney General's website here.