On the recordOctober 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.
Said by
Jim Bunning
Source
congress.govthe 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.
Bunning emphasizes Congress's expectation for the Federal Reserve to oversee the mortgage market effectively.
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Is that not just kind of a transferring of what we cannot pay for and what our excesses are presently to my children and grandchildren? Is that not kind of a wealth transfer or a debt transfer?
Are the Fed and the GSEs going to aggressively pursue pull-back of mortgages to the originators and investment banks to reduce taxpayer losses?
I mean, that to me is criminal negligence, and the sooner they get him before a U.S. court, the better I will like it.