Financial Times: Winding down Fannie and Freddie
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Editorial | November 20, 2013 It has been five years since Lehman Brothers collapsed and longer since the US subprime bubble burst. Yet plans to reform Fannie Mae and Freddie Mac – the government-sponsored behemoths that underwrite the US housing market – are little nearer to completion. Both Republicans and the Obama administration… Chairman Hensarling’s Statement on Bringing Accountability and Transparency to the CFPB
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Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s full committee markup of Consumer Financial Protection Bureau (CFPB) reform legislation: Weekly Rundown
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The House is in session Monday through Thursday this week. Be sure to check back here on the Bottom Line Blog -- and sign up for our email updates -- for committee specific information as the week progresses. Here's what's happening: On Tuesday morning at 10 a.m., the Oversight & Investigations Subcommittee undertakes a general overview of disparate impact… Sunday Video Message | Rep. Marlin Stutzman
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Congressman Marlin Stutzman (Twitter | Facebook) delivers this week's Sunday Video Message on the committee's review of the Federal Reserve's "dual mandate." Chairman Hensarling Statement on CFTC Cross-Border Swaps Announcement
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Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement about the Commodity Futures Trading Commission (CFTC) staff announcement related to cross-border swaps transactions: Weekend Must Reads
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Wall Street Journal | Affordable Housing Is What You Can Afford American Action Forum President Douglas Holtz-Eakin on a Senate housing “reform” bill that includes provisions for politically motivated lending. Baltimore Sun | Consumer protection bureau fails to protect A report by a Bipartisan Policy Center task force comes after almost a year's worth… Bailed Out Fannie and Freddie Are Repaying Taxpayers? FALSE
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Reports that failed government-run corporations Fannie Mae and Freddie Mac are close to “paying back” taxpayers for the largest bailout in American history are completely false, said Financial Services Chairman Jeb Hensarling (R-TX). CBO: PATH Act Reduces Deficit by $5.7 Billion
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The non-partisan, independent Congressional Budget Office (CBO) reports the Protecting American Taxpayers and Homeowners Act (PATH Act) that the House Financial Services Committee passed in July will slash the federal budget deficit by $5.7 billion over the next 10 years. The FHA is Broke, but Apparently No One is Accountable
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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… Committee Holds Hearing on FHA’s First-Ever Taxpayer Bailout on Tuesday
| Posted in Press Releases
Washington’s latest taxpayer-funded bailout –$1.7 billion for the Federal Housing Administration (FHA) – will be the focus of a hearing on Tuesday at 10 a.m. by the House Financial Services Committee. FHA Commissioner Carol Galante will testify before the committee about the FHA’s first-ever bailout, which was announced on September 27 and carried out on September 30. Browse Documents by Date or Issue |
