The FHA is Broke, but Apparently No One is Accountable
Posted by on October 29, 2013

Today, the House Financial Services Committee held a hearing on the Federal Housing Administration’s (FHA) first-ever taxpayer-funded bailout  approximately $1.7 billion.

Despite long-standing concerns about its solvency, the FHA has not taken the necessary steps to mitigate its losses. FHA currently has several means at its disposal to minimize losses to its insurance fund, yet the FHA has not fully utilized these tools. As a result, American taxpayers are now on the hook for a $1.7 billion bailout.

In light of FHA’s fiscal mismanagement and first-ever taxpayer-funded bailout, Committee Chairman Jeb Hensarling (R-TX) asked FHA Commissioner Carol Galante whether anyone at the agency she heads has been held accountable.

seen in the video below, unfortunately, Commissioner Galante could not tell Chairman Hensarling who has been held accountable. In fact, she had no answer at all.

The opinions expressed below are those of their respective authors and do not necessarily represent those of this office.
  • Phillip Piris commented on 11/2/2013
    You make this a better world, run for presidant you have my vote
Post a Comment
Fill out the fields below to submit a comment