And youve got five trillion dollars of outstanding obligations now that somebody has to deal with. Thats in the current of housing finance. Thats not in the future. So, somebody has got to deal with that. And whether its fannie or freddie or somebody else, i mean, thats, i think, a decision that congress has to make, not fhfa. Let me switch topics here for just a minute. That has to do with the mortgage debt relief act. Director watt, i dont think any state has felt the impact of falling home values more than the state of nevada. Congress passed mortgage debt relief act to ensure those who owe more on their mortgages than they do on their homes are now worth would not be hit with additional income taxes. Im not going to ask your opinion on the irs or thank you. On income taxes. But i think its unfortunate. No one gets hit more than lowincome, middleincome families. I think its unfair and i think most would concur that its unfair, that individuals would have to pay taxes on income that
Government . First, chairman, i can thank you for the opportunity to appear in front of you and thank you for the work that you are doing in taking an interest in not just the region, the country, but the middle east as well. It helps my work, our work, the governments work, that British Parliament is engaging and trying to understand these issues in furthering british influence. Im very grateful. I understand youve had a very interesting visit yourself. Pleased to be here. You asked an important question. It is a short amount of time that hes been in place, but if we look back in june of this year of where things stood with isil moving down the tigris and y eufhrates river, bad dad was under threat and we look today and see maliki is no longer there. Al baddy, as you say, is in place. Abadi is in place, he has a more inclusive government than anybody expected to produce. The length of time it took for the cabinet members to be announced, i think we should be pleased with the progress
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