Very interesting hearing today by the House Committee On Financial Services, observing the present and future perspectives before Fannie and Freddie.
The hearing, consisting of two panels, will be webcast at 2 pm Eastern here.
The first panel will be lead by a very clueless Jim Lockhart on behalf of the FHFA.
The second panel will have some other curious people, including key representative from the National Association of Homebuilders, the National Association of Realtors, and the Mortgage Bankers Association - i.e. the organizations that would love nothing more than to bleed taxpayers dry as they overbuild condo complexes in the Yucon.
Probably most interesting will be the interrogation by Democratic Fed transparency initiative originator Alan Grayson: one can expect a flurry of fireworks with him around.
The FHFA's full prepared statement is here. The last 4 slides of the presentation are very relevant. Among them, this one perhaps is most telling.
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