FHFA Director: Congress Needs To Act On Housing Finance Reform

Acting Director of the Federal Housing Finance Administration (FHFA) and Fannie Mae/Freddie Mac conservator, Edward DeMarco, says conservatorship was not meant to be a long-term solution and expresses the urgent need for housing finance reform. (0:17)

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GSE Model Burdened Taxpayers With Billions, Says FHFA Director

Acting Director of the Federal Housing Finance Administration and Fannie Mae/Freddie Mac conservator, Edward DeMarco, criticizes the Government Sponsored Enterprise model for leaving tax payers with a multi billion dollar burden. (0:30)

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We're Suffering The Sins Of The Past Of Not Pricing Risk, Says Lawmaker

Rep. David Schweikert (R-Ariz.) says the “failure to properly place risk” has lead to much of the downfall of the housing market at a House subcommittee hearing Thurday discussing new legislation that would eliminate Fannie and Freddie, in order to open the housing market to private investors. (0:21)

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House GOP'er: Government Needs To Restore Mortgage Investor Confidence

Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, Rep. Scott Garrett (R-N.J.), emphasizes the need for legislation he proposed last week. The “Private Mortgage Market Investment Act” would eliminate the government bailed out Fannie Mae and Freddie Mac in order to encourage private secondary mortgage investments. (0:17)

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Housing Reform Cannot Ignore Homeless, Says Former HUD Secretary

At a discussion hosted by the Bipartisan Policy Center announcing the launch of a new Housing Commission, former Housing and Urban Development Secretary Henry Cisneros says the chronically homeless must also be considered when proposing solutions to the housing crisis. (0:18)

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New Housing Commission Must Attract Broad Support, Says Former Senator

At a discussion hosted by the Bipartisan Policy Center, former U.S. Sen. George Mitchell says the new Housing Commission does not have the “luxury” of proposing housing solutions that will not get bipartisan support. (0:48)

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Home Ownership Still The American Dream For Today's Immigrants, Says Former HUD Secretary

At a discussion hosted by the Bipartisan Policy Center announcing the launch of a new Housing Commission, former Housing and Urban Development Secretary Henry Cisneros says immigrants could play a large role in the recovery of the housing market. (0:39)

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Jobs And Housing Go Hand In Hand, Says Former Senator

At a discussion hosted by the Bipartisan Policy Center announcing the launch of a new Housing Commission, former U.S. Sen. George Mitchell says jobs and housing are “inextricably linked” and there cannot be a solution to one without considering the other. (0:28)

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Bipartisan Proposals Essential To Fixing Housing Crisis, Says Former Senator

At a discussion hosted by the Bipartisan Policy Center announcing the launch of a bipartisan Housing Commission, former U.S. Sen. George Mitchell emphasizes the need for legislation that is practical and will be accepted on both sides of the aisle. (0:20)

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Sen. Graham: Geithner, "so you have no clue"

by Suzia Van Swol, University of New Mexico-Talk Radio News Service


Senator Lindsey Graham (R-S.C.) questions Secretary of Treasury Timothy F. Geithner at the Senate Budget Committee Hearing about how much money is going to be spent and if more money will be needed to fix housing, Geithner doesn't seem to have the answers. (2:26)
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"Where Wall St. meets Main St."

Rep. Gregory Meeks (D-N.Y.) says dealing with the housing crisis is vital because it shows that the government wants to help all people. (1:03)
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Help needed on housing crisis, but only to a point

Rep. Spencer Bachus (R-Ala.) says that while high foreclosure rates do not help anyone, the government should not mandate bailing out all borrowers. (1:31)
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McCain will help homeowners

Former Housing Secretary Jack Kemp explains why Sen. McCain is the best candidate to deal with the housing crisis. (1:15)
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How to use McCain's new housing initiative

Doug Holtz-Eakin, McCain-Palin's 2008 senior policy adviser, explains how taxpayers can use the new housing policy Senator John McCain (R-Ariz.) announced at last nights debate. (1:08)
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Podesta calls DC government officials "robber barons"

In an exclusive interview with the former Chief of Staff John Podesta, Bureau Chief Ellen Ratner discusses Podesta's book "The Power of Progress: How America's Progressives Can (Once Again) Save Our Economy, Our Climate, and Our Country". Podesta discusses what he calls "robber barons in Washington", as well as ways to transform America's economy. He concludes by citing important factors that he believes would help our nation's housing crisis. (7:33)
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Kucinich: Neighborhoods are "blameless victims" of mortgage crisis

At a Domestic Policy Subcommittee of the House Oversight and Government Reform Committee hearing on the impact of the subprime mortgage crisis on neighborhoods, Chairman Dennis Kucinich (D-Ohio) says that while "the meltdown of subprime lending has been a genuine tragedy" for individuals, the "totally blameless victims" are the neighborhoods affected by vacant and abandoned property.  Kucinich lists the repercussions of abandoned properties, including falling property value, loss of rental units, rise in crime, and loss in tax revenue. (1:00)
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Foreclosures "send a message" to neighborhoods

At a Domestic Policy Subcommittee of the House Oversight and Government Reform Committee hearing on the impact of the subprime mortgage crisis on neighborhoods, Maryland Councilmember Nancy Floreen says that foreclosed property "sends a message" to the rest of the community that they "don't need to try," and that if they're "on the edge, why not do it to?"  She said it causes others in surrounding homes to wonder why they should improve the "quality of life within a community" by cleaning up graffiti, mowing lawns, repairing broken steps, and other maintenance issues. (0:50)
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Subprime lending market has "preyed upon" people who can't afford loans

At a Domestic Policy Subcommittee of the House Oversight and Government Reform Committee hearing on the impact of the subprime mortgage crisis on neighborhoods, Maryland Councilmember Nancy Floreen says that the market has "preyed upon people who cannot afford the situations in which they've been led."  She also says that the crisis has disproportionately affected minority communities, and said that blacks in Maryland are three times more likely than whites to receive a subprime loan, and Latinos are twice as likely as whites. (0:36)
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IMF economist predicts "minor contraction," then "slow recovery" for U.S.

At the Housing Crisis and Lessons for Monetary Policy discussion hosted by the Brookings Institution, Economic Counselor and Director of the International Monetary Fund Simon Johnson predicts a "minor contraction" for the U.S. economy this year, followed by a "slow recovery" next year. He also talks about the spillover effects of the U.S. housing market into other nations, and predicts a decline in global growth projection. (0:43)
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Chairwoman Maxine Waters (D-CA) discusses how "consumers have little leverage" in the loans they recieve

Congresswoman Maxine Waters (D-CA), chair of the House Subcommittee on Housing and Community Opportunity, discusses the problems concerning consumers stuck in the foreclosure crisis at a hearing on foreclosure prevention and sound mortgage servicing. (0:33)
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