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Assemblymember Paul Krekorian Appointed to Emergency Finance Cmte

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  • Assemblymember Paul Krekorian Appointed to Emergency Finance Cmte

    PRESS RELEASE
    Office of Assemblymember Paul Krekorian
    Adrin Nazarian Chief of Staff
    620 N. Brand Blvd. Suite 403
    Glendale, CA 91203
    (818) 240-6330
    (818) 240-4632 fax
    [email protected]


    November 14, 2008
    (818) 240-6330



    Assemblymember Paul Krekorian Appointed

    to Emergency Finance Committee



    Burbank Lawmaker Will Work on Responses to Mortgage Crisis



    Sacramento, CA - Today, Speaker of the Assembly Karen Bass appointed
    Assemblymember Paul Krekorian (D-Burbank) to a special Banking and
    Finance Committee that will be formulating emergency responses to
    California's mortgage and credit crisis.



    "The national and international financial crisis has been devastating to
    Californians," said Krekorian. "Countless families are struggling to
    avoid foreclosure of their homes, and many more are being frozen out of
    the American Dream because of the unavailability of credit. I'm eager
    to get to work on developing solutions that will ease the impact of the
    crisis, stimulate economic activity, and prevent the kind of predatory
    lending practices that created much of the problem."



    Governor Arnold Schwarzenegger called an emergency legislative session
    on November 6 to remedy an estimated $11 billion budget shortfall, and
    to invigorate California's economic health, which has taken a beating
    from a nationwide housing crisis, poor performance on Wall Street, and a
    dismal jobs report. The Speaker created the special Banking and Finance
    Committee to address these issues during the emergency session.



    "Since this year's budget was signed in September, California's housing
    crisis has gone from bad to worse, people have lost their life savings
    on Wall Street, and our budget deficit has escalated to over ten billion
    dollars," said Assemblymember Krekorian. "We must act quickly and
    decisively to solve this crisis. I look forward to working with Speaker
    Bass and my colleagues on both sides of the aisle to achieve practical
    solutions to help California families during this especially difficult
    period."



    Assemblymember Paul Krekorian (D-Burbank) represents the cities of
    Burbank and Glendale, and the Los Angeles communities of Atwater
    Village, Los Feliz, North Hollywood, Silver Lake, Toluca Lake, Valley
    Glen, Valley Village and Van Nuys.

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