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.
April 14, 2010. Tags: bank servicers, Barney Frank, FANNIE FREDDIE, FHA, Foreclosure Mitigation, Foreclosures, HAMP, House Financial Services Cmte, Housing, Making Home Affordable, mortgage modifications, Shaun Donovan, Tim Geithner. Politics. 1 comment.
Michelle Bachmann wins one against ACORN…
Awesome Rep. Bachmann! and Frank actually APOLOGIZED to ACORN, pathetic! From Politico:
Rep. Barney Frank (D-Mass.), who spent much of Wednesday battling the GOP over the bias crimes bill, is offering a big mea culpa for failing to kill an amendment by Rep. Michele Bachmann (R-MN since Politico wont tell you) preventing ACORN from getting federal funds because they have members who were indicted for voter registration fraud. passed by the House.
“I made a mistake yesterday in not objecting to the Bachmann amendment. I did not read it carefully, and it was in the last minute that the amendment was accepted. It is a deeply flawed amendment and I am opposed to it,” said Frank, the chairman of the House Financial Services Committee.
“Banning people from possible participation in government programs based on an indictment is a violation of the basic principles of due process, and I intend to offer a corrected amendment when the bill comes to the floor of the House next week.”
No word from Barney Frank on how Stimulus Money was SPECIFICALLY legislated OUT of Blagos hands since he considers “banning people from possible participation in government programs based on an indictment is a violation of the basic principles of due process”. I guess only SOME bills need to meet the basic principles of due process….Maybe Rep Frank needs to speak to Rep Kirk and Rep Foster on their bipartisan amendment to strip Gov Blagojevich who was not even indicted at the time of power over stimulus funds!!!!
HYPOCRISY THY NAME IS BARNEY FRANK
April 30, 2009. Tags: ACORN, Bachmann ACORN Amendment, Barney Frank, Blagojevich, Blagojevich Stimulus, Rep Kirk, Voter Fraud. Politics, Uncategorized. Comments off.
Moderate in the Middle 