[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 the housing and finance some. The secretary of the treasury and the secretary of housing and urban development, both of whom have justice at Housing Finance reform proposals to the president as well as the director of the federal Housing Finance agency who serves as the regulator and conservatory of fannie mae and freddie mac. I want to thank each of you for coming to the committee this morning. Last friday marked 11 years since the government bailed out and put fannie mae and freddie mac in the conservatorship, where they remain today. Prior to 2008, the two governmentsponsored enterprises helped 45 cents in capital for every 100 in mortgages they guaranteed. Now, they hold just 19 cents. After a historic 200 billiondollar bailout from the taxpayers. 11 years later, the systemic
[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 the housing and finance some. The secretary of the treasury and the secretary of housing and urban development, both of whom have justice at Housing Finance reform proposals to the president as well as the director of the federal Housing Finance agency who serves as the regulator and conservatory of fannie mae and freddie mac. I want to thank each of you for coming to the committee this morning. Last friday marked 11 years since the government bailed out and put fannie mae and freddie mac in the conservatorship, where they remain today. Prior to 2008, the two governmentsponsored enterprises helped 45 cents in capital for every 100 in mortgages they guaranteed. Now, they hold just 19 cents. After a historic 200 billiondollar bailout from the taxpayers. 11 years later, the systemic
[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 the housing and finance some. The secretary of the treasury and the secretary of housing and urban development, both of whom have justice at Housing Finance reform proposals to the president as well as the director of the federal Housing Finance agency who serves as the regulator and conservatory of fannie mae and freddie mac. I want to thank each of you for coming to the committee this morning. Last friday marked 11 years since the government bailed out and put fannie mae and freddie mac in the conservatorship, where they remain today. Prior to 2008, the two governmentsponsored enterprises helped 45 cents in capital for every 100 in mortgages they guaranteed. Now, they hold just 19 cents. After a historic 200 billiondollar bailout from the taxpayers. 11 years later, the systemically Important Companies c
Test. Test. Test. Test. Thank you very much for your service, sir. The gentleman from missouri, mr. Clay. Theres also the chair for the subcommittee on housing, Community Development, and insurance, recognized for five minutes. Thank you, madam chair. And mr. Secretary, lets discuss the wellston, missouri, Housing Authority, which hud has had in receivership for the last 22 years. As you are aware, there is a planned demolition of a number of units, which will displace tenants, uproot lives, and cause utter confusion in those lives. Children will be forced to change schools, and some parents will have drastic changes to their life and work schedules. As you know, we are looking at several options, which we have discussed, including the grand families concept and section 202 housing. Could you please walk us through a displacement such as this and tell us what does hud do to serve the Affordable Housing needs of these residents and ensure that they have access to safe, affordable, and m