It has been over a year since the creation of your agency, yet you still do not have an Inspector General.
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.
You as the acting head of it, you could at least make a suggestion to the Administration that this is a critical position that needs to be filled.
if they are going to bust the bank, if they are going to blow the housing and the market right out of sight, then we as regulators or as policymakers have got to prevent that.
I can tell you when Chairman Greenspan and Chairman Bernanke came before this Banking Committee as a whole, they were all warned about it.
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.
Without reform of bank capital standards, rating agencies, and housing subsidies like the GSEs, is there any way the private asset-backed security market will ever return?
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.
Right now there is no basic private securitization market, especially for mortgages.