[inaudible conversations] [inaudible conversations] [inaudible conversations] this hearing will come to order. Today we are joined by the leading voices within the administration on reforming and strengthening our housing and finance system. The secretary of the treasury, and the secretary of housing and urban development, both of whom have just submitted Housing Finance reform for fossils to the president , as was the director of the federal Housing Finance agency who serves as the regulator and conservator of fannie mae and freddie mac. I want to thank each of you for coming to the committee this morning. Last friday marked 11 since the government bailed out and put fannie mae and freddie mac into conservatorship, where they remain today. Prior to 2008, the governmentsponsored Enterprises Held a 45 cents in capital for every 100 in mortgages they guaranteed. Now just 19 cents after a historic 200 billiondollar bailout from taxpayers. 11 years later they continue to be too big to fail
[inaudible conversations] [inaudible conversations] this hearing will come to order. Today we are joined by the leading voices within the administration on reforming and strengthening our housing and finance system. The secretary of the treasury, and the secretary of housing and urban development, both of whom have just submitted Housing Finance reform for fossils to the president , as was the director of the federal Housing Finance agency who serves as the regulator and conservator of fannie mae and freddie mac. I want to thank each of you for coming to the committee this morning. Last friday marked 11 since the government bailed out and put fannie mae and freddie mac into conservatorship, where they remain today. Prior to 2008, the governmentsponsored Enterprises Held a 45 cents in capital for every 100 in mortgages they guaranteed. Now just 19 cents after a historic 200 billiondollar bailout from taxpayers. 11 years later they continue to be too big to fail and are even more leverag
Chairman engles joining us. Were here joined by the select committee on Climate Crisis and an esteemed panel of witnesses for this hearing leading to the next generation on the global Climate Crisis. I know a few of our witnesses have a hard stop at 11 30 in order to get to their next event advocating on these issues. Ill just ask that all members keep their questioning to five minutes or less so we can fit in as many members as possible. Without objection all the members may have five days to submit statements, questions, exrainious materials for the record, subject to length limitation in the rules and id just like to call on the chairman of the full committee to who has a few words to offer. Chairman engel. Good morning, everyone. I just wanted to invite everyone to come to the Foreign Affairs committee, and by the looks of it youre all here. I want to welcome everybody. Climate change is certainly something that is so important, and the aggravating thing about it is that there are
This morning we heard where we are today with cybersecurity. So, you know, my career in cybersecurity started when i joined the National Security agency and the offensive mission set and that gives you a perspective of how to defend against very advanced actors so the point of this panel this morning is to talk about the priorities but with a focus of how we resist attack. Okay . So on our panel today, we have a mix of commercial Sector Companies working with the government and a mix of government folks that are really focused on Important Missions and are critical to the National Security. In my opinion, given my experience i think offense always wins. And with that mindset, i want to take a look at what were doing today and how we can give you all Lessons Learned and some front line knowledge about things to take back to your organization and implement. This gets to the heart of the issue, though. Scaling. We all lots of systems. We are certainly dealing with a scale attack surface a
Okay . How we prevent the adversary from taking our stuff. We have a mix of commercial Sector Companies working with the government and a mix of government folks that are really focussed on Important Missions and are critical to our national security. In my opinion and given my experience, i think offense always wins. With that mind set, i want to take a look at what were doing today and how we can give you all some Lessons Learned and some front line knowledge act things you can take back to your organization and implement. This gets to the heart of the issue, though. Scaling. We all have lots of systems. We are certainly dealing with a scale of attack surface and were dealing with adversaries getting more and more advanced. Theyre more and more capable over the past five years. We certainly are scaling our budgets as well. You can see here were focussed on i. T. Modernization, spending 95 billion. We have cyber spending going up close to 10 billion. Is it actually working . And we al