I for one have been saying that we should not be pushing people into homeownership when they can't handle it, and part of the problem here was killing affordable rental housing. But let's have the record clear. There is no rational way to blame the Community Reinvestment Act passed in 1977 and not cover the nondepository institutions for this crisis caused by the nondepository institutions.
Addressing the impact of the Community Reinvestment Act on the housing crisis.
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Barney Frank, the author of the Dodd-Frank bill, in this committee, sitting in that chair, who has testified in this committee that he told us that the $50 billion threshold is arbitrary and that we should look at alternative methods for…
Fannie Mae and Freddie Mac do very good work, and they are not endangering the fiscal health of this country.
Critically I made sure that the United States reserve the right to maintain and enforce existing sanctions and even to deploy new sanctions to address those continuing concerns which we fully intend to do when circumstances warrant.
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