I want to begin today by wishing everyone a happy Martin Luthor King day.
Millions of Americans benefit greatly from the work of Dr. King, and his legacy continues to guide our nation to work toward bringing his dream to life.
It is now that I want to send a message directly to our President.
Mr, President We are at a major crossroads in America. Your actions will greatly determine if Dr. Kings dream continues to grow or is allowed to die. The gains that have been made are under attack like never before you must not give back the hard fought gains that have been made.
The same forces that fought change in Dr. Kings days still exist in America, though their words and tactics may be different their goals remain the same. They seek to undermine and destroy the laws that help ensure that America provide equal opportunities for all.
Nowhere is this battle more evident than in the current debate over the GSEs. The opponents of Fannie and Freddie have proved what I have been warning all along. That their true goal is not to simply eliminate Fannie and Freddie but the mandates that come along with them.The mandates that help ensure that Americas housing market is equally available to all Americans is their true enemy.
What has lead our opponents to become so energized and vocal is the fact that as you know every core group of your constituents have awoken to the truth.
A few of these are that the Fannie and Freddie from 2007 no longer exist today. The massive reforms that have been enacted have made them far safer than at any point in their history, with the exception of capital, which can easily be addressed upon release.
And that to release Fannie and Freddie will have no impact at all on housing reform legislation. Congress can still enact any reform they like whether the GSEs are in or out of conservatorship.
Mr. President I know that you know the truth about these two companies called Fannie Mae and Freddie Mac. But I want to share my thoughts as to what will occur if you were to abandon your most loyal allies and through your gamesmanship allow millions of Americans to be forever locked out of Americas housing market. This will be the single biggest legacy of your Presidency.
It will overshadow every other accomplishment you have achieved. Though you may not realize it now it will be your biggest regret as you will be forced to watch those who worked so hard and sacrificed so much to get you elected President, pay such a dear price for your inaction. I am not only referring to those that helped get you elected in 2008 and 2012 but also those like Congressman John lewis who was beaten nearly to death to pave the way for you to even be on the ballot.
You see it would be a cruel irony for all those that have sacrificed so much to make America equal to be rewarded like this by our first black President.
I know you say that progress has been made and sometimes progress is slow but you have the power to preserve the dream of home ownership for millions of Americans. The ball is in your court sir.
Keep the Faith!