Oct 6, 2009
Are all of you familiar with the 1994 law that the Congress passed giving the Federal Reserve the jurisdiction over all banks making mortgages?
Jim Bunning
The Public Record
Jim Bunning is a former United States Senator from Kentucky, serving from 1999 to 2011. A member of the Republican Party, Bunning was known for his strong conservative positions and advocacy for fiscal responsibility. Before his political career, he was a professional baseball player, notably a pitcher in Major League Baseball, where he was inducted into the Baseball Hall of Fame in 1987. Bunning's tenure in the Senate included a focus on issues such as energy policy and workers' compensation reform, often criticizing the Department of Energy's handling of compensation programs for workers.
congress.gov
Oct 6, 2009
I can tell you when Chairman Greenspan and Chairman Bernanke came before this Banking Committee as a whole, they were all warned about it.
Oct 6, 2009
The Congress of the United States gave that power to the Federal Reserve and expected them to completely fulfill their obligation in oversight of the mortgage market.
Oct 6, 2009
Probably the biggest factor that led to the problems in the securitization market were artificial demand created by bank capital rules favoring highly rated securities over whole loans.
Oct 6, 2009
Right now there is no basic private securitization market, especially for mortgages.
Oct 5, 2009
The danger of a nuclear Iran poses one of if not the greatest threat to our national security.
Oct 5, 2009
Now is the time to enforce these sanctions and deny Iran the financial capital needed to fully fund their nuclear proliferation and support for international terrorism.
Oct 5, 2009
Now is the time to expand these sanctions even further and close several loopholes in existing laws.
Aug 4, 2009
But the Federal Reserve was responsible for overseeing the banks that made those loans, and/or the mortgage brokers, we gave that power to the Fed and just because they did not write any regulations, we ran into all this mischief.
Aug 4, 2009
The Secretary made clear the regulators are free to defend their own agency prerogatives.