basically what we have done in the bill is to acknowledge, as the original bill does, that the Federal Government cannot alone accomplish all of the housing objectives that we all have as a Nation. We have added to that the goal, the specific language that is in the original Watt amendment, which says that our Nation should promote the goal of providing decent and affordable housing, and the rest of the language that was in the original amendment, and we have acknowledged that the Federal Government can pursue this policy. So I think all our hearts and minds are at peace on this.
Melvin Watt: “basically what we have done in the bill is to acknowledge, as the original bill does, that the Federal Government cannot…”
Editor's note · Context
Discussing housing objectives and the role of the Federal Government in a legislative bill.
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More from Melvin Watt
Only in America could somebody be confirmed to this position that has the regulatory authority over the bulk of housing in this country.
I don't think you would want either Republicans or Democrats, I don't think either one would want 15, 20 percent of their economy in conservatorship for years and years.
I don't think there is any question that somebody who gets good homeownership counseling, either pre-ownership, or in some cases post-ownership--it makes them better borrowers.
Senator, that is just not true now. What we did not do was principal reduction, but there are millions and millions of people that we have provided relief for whose homes were in jeopardy.





