Thank you for joining us today thank you for welcoming the ftc chairman. Has been more than seven years since the ftc has appeared before the subcommittee so gentlemen, you are late and this is long overdue one of the most Important Agency the subcommittee funds. Policing most sectors of the economy with the crackdown on robo colors to expose sensitive personal information to analyze consolidation in the Healthcare Market with essential Health Services atop beep for Consumer Privacy violations. And respecting the privacy choices of customers we have seen some promising actions recently they did not take a break they have high profile settlements to launch antitrust investigation and we recognize the challenges we face thats why this years house appropriation bill has a 40 milliondollar increase proposed funding bumping at more than 10 percent. And then to understand how the ftc investigates these resources widely and also it is our duty as chairman of the ftc to see that existing resou
Has been more than seven years since the ftc has appeared before the subcommittee so gentlemen, you are late and this is long overdue one of the most Important Agency the subcommittee funds. Policing most sectors of the economy with the crackdown on robo colors to expose sensitive personal information to analyze consolidation in the Healthcare Market with essential Health Services atop beep for Consumer Privacy violations. And respecting the privacy choices of customers we have seen some promising actions recently they did not take a break they have high profile settlements to launch antitrust investigation and we recognize the challenges we face thats why this years house appropriation bill has a 40 milliondollar increase proposed funding bumping at more than 10 percent. And then to understand how the ftc investigates these resources widely and also it is our duty as chairman of the ftc to see that existing resources are being used as efficiently as possible as efficiently as possible
This hearing will come to order. Today we are joined by the leading voices within the administration on reforming and strengthening our Housing Finance system. The secretary of the treasury and the secretary of housing and urban development, both of whom have just proposed proposals to the president , as well as the director of the federal Housing Finance industry who serves as the regulator and conservator of fanny mae and freddie mac. Last friday marked 11 years since the government bailed out and put fanny mae and freddie mac into conservatorship where they remain today. Prior to 2008, they held just 0. 45 in capital for every 100 in mortgages they guaranteed. Now they hold just 0. 19. After a historic 200 billion bailout from the taxpayers. 11 years later, these Important Companies continue to be too big to fail, and are even more leveraged than they were before the financial crisis. And taxpayers remain on the hook in the event of the next market downturn. In march, President Trum
Senate committee on banking, housing and urban affairs will come to order. Today is a hybrid format. Our witnesses are in this person but members have the option to appear in person or virtually to consider the nominations of dr. Lael brainard to be vice chair of the board of governors of the Federal Reserve system. And acting director Sandra Thompson to be director of the federal Housing Finance agency. Its amazing what a difference a year makes. We have today safe and effective vaccines that are saving lives, that are getting people back to work. 207 million americans have fully vaccinated. In 2021 we added 6. 4 million new jobs, more in any year since 1939. Workers are demanding raises. Theyre finally getting them. Theyre changing jobs at record rates because people finally have some options. The past year has illustrated our economy works best when it works for everyone, not just wall street, not just the top 1 . Everyone. Whether you punch a clock or raise children or care for an
Senate committee on banking, housing and urban affairs will come to order. Today is a hybrid format. Our witnesses are in this person but members have the option to appear in person or virtually to consider the nominations of dr. Lael brainard to be vice chair of the board of governors of the Federal Reserve system. And acting director Sandra Thompson to be director of the federal Housing Finance agency. Its amazing what a difference a year makes. We have today safe and effective vaccines that are saving lives, that are getting people back to work. 207 million americans have fully vaccinated. In 2021 we added 6. 4 million new jobs, more in any year since 1939. Workers are demanding raises. Theyre finally getting them. Theyre changing jobs at record rates because people finally have some options. The past year has illustrated our economy works best when it works for everyone, not just wall street, not just the top 1 . Everyone. Whether you punch a clock or raise children or care for an