Ms. Waters. After 2007, i think that overleveraged issue sort of prove the point. And looking at the headlines the headlines read government keeps pushing mortgage guarantees as risk index rises. Heres another headline. Fhfa orders of gses to start supporting Affordable Housing trust fund. Surprisingly the year is not 2005. Its 2015. And so we find the fha today engaged in this race with fannie and freddie to see who can more swiftly cracked up the private sector, who cant assume more risk on behalf of the american taxpayer. I would just point out this is kind of a frightening race because in my view we have seen it before. The fhfa has joined sort of a moral hazard problem here. And in december you announced the gses should begin to put more money into the coffers of Housing Advocacy groups through the Housing Trust fund established under the housing and economic recovery act. And you made this move despite the fact that fannie and freddie have yet to repay a lot of the money due to t
Preferred stock Purchase Agreements were entered into with treasury, that suspended the capital of fannie and freddie. If we were building up capital i understand exactly what youre saying. But those two criteriaen dont apply anymore because they are in conservatorship. Every dime is going to the taxpayers if theres a profit. Theres statutory language here that requires an end to the allocation. I think its very straightforward. But ill close with this. Today, i along with many of my republican colleagues will reintroduce the payback the taxpayers act. And this bill will ensure that money coming in from the gses will go to the taxpayers, in other words, will go to address this issue instead of being diverted to the Housing Trust fund. But thank you, director. Good to see you again. Time of the gentleman has expired. Chair now recognizes the gentleman from missouri, mr. Cleaver. Thank you, mr. Chairman. And Ranking Member, thank you for being here, mr. Watt. Theres been a lot of discuss
Answer to that question. I wish to yield a brief moment to the Ranking Member. Thank you, mr. Chairman. I, too, would like to welcome director mel watt to the hearing today. I was somewhat torn when he received this appointment. While i know, and always knew, he would do a great job at fhfa, i knew i would miss him on this committee. Not only because he was such a thoughtful, well prepared member of the committee, i could count on him as the one person who had read every line of the bill. Melmel watt had not only read every line of the bill, he was the one who could come up with a question that no one else could come up with because he spent so much time reading the bill. I also appreciate the fact that he served an important role. When there was a need for tough negotiations, bonnie frank turned to mel watt and asked him to work with the opposite side of the aisle, and he did that on any number of occasions. Bonnie frank could never trust me with that. [laughter] i understand why, and
Good evening, im ann notarangelo. Im brian hackney. The motorcyclist was apparently knocked over the side of the antioch bridge. After colliding with a car this afternoon. A motorcycle rider vanishes without a trace after a crash on a bridge. The motorcyclist was knocked over the side of the antioch bridge. Reporter right now it is unclear how this accident happened. According to chp they received calls of a motorcyclist speeding southbound this way over the antioch bridge, soon after that motorcyclist slammed into the back of the car. When Law Enforcement showed up this bike picture was all that was found on the bridge. Witnesses say the driver went over the bridge into the water. Now, chp shutdown lanes on both sides of the bridge. Emergency search and rescue efforts got under way. A Coast Guard Boat and a rescue boat were out on the water as a chp helicopter flew over head. The operation was called off. Earlier this afternoon, we were over on the other side of the bridge. That is wh
I think youre going to be busy today. Already a few crashes overnight. Be careful. Lots of people going to the giants game too right . Back from spring break. Get to work. All right, well today divers will look for a motorcycle rider who wept over the side of the antioch bridge and fell into the water. It happened after a collision with a car yesterday afternoon. Witnesses saw the motorcyclist fall into the water at about 4 30 p. M. The c p. M. Shut down the chp shut down the southbound side of the bridge and search and rescue efforts ensued. Eyewitnesses from the accident scene said they saw bodies hit the water and there was contact with some boats apparently that saw the body hit the water with the splash. Immediately boats went into the area to look for them. Boats searched as the chp helicopter flew overthey had but they found nothing overbut they found nothing over the course of a few hours. Three drivers died off the coast yesterday. The men were among the group of five divers w