Subcommittee will come to order. Good morning everyone and well konl to the subcommittee on equal opportunity. And home loan churning practices and how veteran home buyers are affected and additionally how taxpayers can be affected. This is the second oversight hearing we held this Congress Related to v. A. Loan guarantee program and the benefits provided to our American Service members and veterans on account of this program. As mr. London with the department of federal affairs discussing in his testimony v. A. Guarantees over 23 million loans in excess to trillion dollars since the 1940s representing millions of veterans, Service Members and their families who may not or otherwise achieve the American Dream. This program is one of the more well run program at the v. A. And i have thoughts about why it is, mainly because they guarantee it but the lender are in involved and they under ride it and more people involved in administering it in the private sector. They recently had concerns
Subcommittee will come to order. Good mompg and welcorning and w todays subcommittee. Our oversight entitled home loan turning practices and how taxpayers could be affected. This is the second hearing. As many london with the department of Veterans Affairs discusses in his testimony, the v. A. Is guaranteed over 2 million loans in excess of 2 trillion since the 1940s. That represents millions of veterans, Service Members and their families who may not have otherwise been able to achieve the American Dream. While this program is one of the more well run programs at the v. A. And i have some thoughts about why it is, mainly because they guarantee it but the lenders are involved and they underwrite it and more people involved in administering it in the private sector. They had concerns about certain activities being conducted by some lenders. Potentially unscrupulous lenders which have the potential for harmful outcomes for veteran home buyers. We have seen reports of what may be deceptiv
A show of force for north Korea Holding a live fire go to mark the founding of its military. What that means after President Trump some of the 100 senators to the white house yesterday. A status update on Corporate America is a busy day. Several dow components had to report their First Quarter. We will hear from dupont, caterpillar, but donald, cocacola, 3m ahead today. After yesterdays big rally, features syndicate another day of gains today. The market to add onto the triple digit of yesterday. Nasdaq s p 500 also positive territory. PicS Performances to report. 5100 the cac quarante at a quarter of a percent. Dxm fractionally. Kids across the board is used to unique a average in japan and the hang seng in hong kong best performers better than 1 . Driverless technology, apple and amazon a key hiring is to make on the competition. The history of the phone. National telephone day. A lot like another technology has transformed. All the stories this morning. Fox Business Network they can
Wrong. Poor ross. All right. Power players coming up. No 13th month . In the world of investing. Carlisles David Rubenstein, steve shoresman blackstone, venture capitals marc andreesson, and jamie dimon. Look at that in addition we have jerry webb. Make us all the rest of us feel we have one youre an economist or something . You play on to have you can think about the 121212 thing in the meantime because youre good at math. Yeah. All that stuff. All right. As we move closer to the edge of the fiscal cliff, every move is being magnified by the markets. President obama and House Speaker john boehner spoke by phone on tuesday, exchanging new proposals. The president gave boehner a revised offer on monday, reducing his demand for new tax revenue from 1. 6 trillion to 1. 4 trillion over ten years. Boehner responded with a plan that largely sticks to his original offer a week ago. Reports say the white house has told republicans it would include an overhaul of Corporate Taxes in any budget d
Fateful history of fannie mae, faithful not only for fannie mae but for everybody else too and there are copies of the book out in the reception area which we hope you will buy and which bob hagerty will autograph after the program. I am the president fellow at a e. I. And we are pleased to have you with us to consider this fateful history and its role in american politicized Housing Finance. After many years of dealing with and thinking about fannie mae i thought i knew a lot about this subject but i learned a lot more about it from reading bobs book, especially the very longterm evolution of politicized Mortgage Finance in this country and also about the vivid personalities involved over the last 40 years, all the way to the end of the story, at least it is the end so far. The book is full of information but in addition if you read my invitation to this event you know i think it represents an underlying tragic drama. In fact a shakespearean tragedy in fives. Rise, power, hubris, fall