Mike Thompson: “I would like to use the opportunity, following Senate confirmation of Andrew Cuomo as the next Secretary of Housing and…”

“I would like to use the opportunity, following Senate confirmation of Andrew Cuomo as the next Secretary of Housing and Urban Development, to address some vital management issues at the Department. The Department of Housing and Urban Development [HUD], like many other federal agencies, is confronted by serious management problems that impede its ability to carry out its mission. HUD, which Secretary-designate Cuomo will head, has a diverse group of activities under its purview. HUD manages an $885 billion loan portfolio and provides $25 billion in rental subsidies and over $5 billion annually in community development grants. As the principal agency concerned with the Nation's housing needs and redeveloping our decaying cities, HUD has a monumental task on its hands and should be run as efficiently and effectively as a Fortune 500 company. Unfortunately, this has not been the case in the past. Historically, HUD has had a rocky track record. Departmentwide management deficiencies were a major factor leading to the 1989 HUD scandals. In 1994, the General Accounting Office placed the entire department on its high risk list, designating HUD as 'especially vulnerable to waste, fraud, abuse, and mismanagement.'”