Wallison: Congress would have manhandled regulatory agencies

Peter Wallison of the American Enterprise Institute says that Congress would not have prevented the subprime mortgage crisis if regulatory agencies had acted according to expectations in order to protect the American Dream. (0:44)
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HR 5818 not a stimulus package

Frank Alexander, a law professor at Emory University, describes that HR 5818 focuses on neighborhoods and the innocent victims of home foreclosures and vacancies, not on foreclosure prevention like the stimulus package under consideration in the Senate. (0:54)
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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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