Lawmakers also heard testimony from the head of the housing agency, this hearing is just under three and a half hours. Will come to order. Without objection the chair is authorized to declare a recess of the committee at any time. This hearing is entitled, the end of Affordable Housing . A review of the Trump Administrations plans to change Housing Finance in america. Before i recognize myself, members, today is mr. Mchenrys birthday. [ applause ] if anyone wishes to sing happy birthday, please save it until later. Thank you. We all thank you for that, madame chair. Happy birthday. Thank you. I now recognize myself for four minutes to give an Opening Statement. Good morning, today were here to discuss the impact of the Trump Administrations Housing Finance reform plans. We are joined by treasury secretary steven ma shun, ben carson, and mark calabrio welcome. Let me say up front the Trump Administrations housing reform plan would be a disaster for our housing systems. The Trump Adminis
About the collapse of silicon bank west church of the largest Bank Failures in u. S. History. Congressman mchenry discussed the role the Federal Reserve and the Deposit Insurance Corporation Bank Regulation of Risk Management. This event as hope and by the brookings institution. Kground noises] [background noises] good morning everybody. Im director on fiscal and Monetary Policy and be half the hutch and Center Center on me you to this event both the people in the room and the people watching remotely. Our subject today is what lessons we have learned from the really interesting efforts of march 2023. A year ago the glol Financial System suffered the most significant banking stress since the Global Financial crisis of 2007 and eight. As you all probably know if event Silicon Valley bank failed prompt and the fdic to take it over the middle of the dayay could not even make d it to the weekend which is as a one off event. Silicon valley was certainly for lack of a better term unusual. Th
Nt is hosted by the brookings institution. David good morning, everybody im director of financial policy here at brookings. Id like to welcome you to this event, both the people in the room and people watching remotely. Our subject today is what lessons we have learned from the really interesting episodes of march, 2023,. A year ago the Global Financial system sthiferred most significant banking stress the Global Financial crisis of 20072008. As you all probably know, Silicon Valley bank failed prompting the fdic take it over in the middle of the day couldnt even wait until the weekend, which is really unusual. Its tempting to see this as a oneoff event. Silicon valley was, for want of a better term, unusual. Almost all its deposits were uninsured, it was woefully unprepared for an increase in Interest Rates, but it was followed by what some have called the panic of 20 if thenature bank and First Republic and oversea credit suisse. To arrest what u. S. Authorities feared was a spreadin
On Economic Opportunity. They discuss needed investment in underserved low income communities and bridging the gap between rental markets and homeownership. This runs an hour and 20 minutes. Good afternoon. Id like to call the subcommittee on housing transportation and Community Development committee to order. I want to thank you as always, senator, to you and your staff for working with us on this hearing, which will focus on Community Development Financial Institutions or cdfis and how specifically cdfis can promote Housing Development and Economic Opportunity. I think that both the senator and i believe that everyone in this country should have the freedom and the opportunity to build the lives that they want, that this is the american dream. An essential Building Block for fulfilling this dream is that people have access to capital and lending and resources so that they can buy a home or build a Small Business or get an education. And we also know that not everyone has equal access
On Economic Opportunity. They discuss needed investment in underserved low income communities and bridging the gap between rental markets and homeownership. This runs an hour and 20 minutes. Good afternoon. I would like to call the subcommittee on housing, transportation and Community Development to order. I want to thank you as always, you and your staff are working with us on this hearing, which will focus on Community Development Financial Institutions and how specifically cdf is can promote housing developer intent Economic Opportunity. I think that we all believe that everyone in this country should have the freedom and opportunity to build the lives that they want, that this is the American Dream, and an essential Building Block for fulfilling the streamers people have access to capital, lending, and resources so they can purchase a home or build a Small Business or get an education. We also know that not everyone has equal access to capital and Financial Services and this inequi