Housing: Team Obama plans to ‘poll’ Americans to see what we want to do with Fannie, Freddie? Where is the leadership?! plus Ben Bernanke testifies before JEC…

Update: Ahh HousingWire says they are taking responses to their poll via the Register first. Team Obama’s answer for everything is a meeting, a poll, a panel, typical faculty lounge stuff, lol

The administration said it will first seek public response via the Federal Register listed at regulations.gov. The administration will then hold a series of public forums on housing finance reform.

Update: HousingWire has the details on the ‘poll’ Team Obama plans to take, what a disgrace! Should have and still should just do HOLC, but then Credit Suisse and UBS might take a loss, Gawd Forbid, but it is fine if taxpayers shoulder it, I call shenanigans….

The Obama Administration today puts the public behind the mic on the reform of the US housing finance system, including Fannie Mae and Freddie Mac. A list of questions published today targets the opinions of mortgage market participants, industry groups, academic experts and consumer and community organizations, according to an e-mailed statement from the US Treasury Department.

Here is the Treasury Press Release:, they do not list where to send your input, lol, but here is their contact info:

http://www.ustreas.gov/contacts.shtml

Department of the Treasury
1500 Pennsylvania Avenue, NW
Washington, D.C. 20220

General Information: (202) 622-2000
Fax: (202) 622-6415

7:23: Shaun Donovan (HUD Sectry) says he does NOT believe the stress on housing affordability fueled the crisis and that it was vagueness in the programs that was a problem. Oh boy.

Ed Royce R-CA is disputing this and citing Geithner’s previous testimony that the GSEs used the affordability mandates to buy bad loans…well yeah!

Okay we’re 20 mins in and it’s a smack down, you must watch this hearing!

now Mel Watt D-NC is talking up low income rental housing and the GSE roles in that. This is one of Barney Frank’s pet plans. I have long said they will take these foreclosed homes and convert them to Section 8 after families lose them. Unreal.

7:20 am AZ time: Watch the hearing live now here

ZOMG!! BUY A FRAKKIN CLUE TEAM OBAMA!!!! Lordy, Lordy..I thought these guys were SOOPER GENIUSES who had a plan before he even took office!

Now we have an uncapped FAN FRED FHA debt growing exponentially and they want to take a frakkin poll? Are you frakkin kidding me?!

The hearing with the House Financial Services Cmte has begun and Spencer Baucus R has nailed the issue-

Ranking Member Spencer Bachus gives opening remarks at a Financial Services hearing on the future of housing finance, where the Obama Administration failed to provide a plan for reforming Fannie and Freddie.

If that hearing doesn’t terrify you, see Ben Bernanke live here before the Joint Economic Cmte suddenly acknowledging we have a serious fiscal crisis and need immediate action, funny he didn’t say that before they rammed down the Obamacare bill huh? frakker.