Have a chance in a fragile economy to create good paying, innovationoriented jobs. My take is that if a foreign enemy was doing the damage to the American Economy that some of these overly broad nsa practices are doing, our citizens would be up in arms. I mean people would be up in arms literally from coast to coast. You have highlighted page three of your testimony, the forrester study, i believe or the technology foundation, 35 billion lost to the Cloud Computing industry is just one part of the Technology Sector over three years. I talk about the balkanization of the internet. I think it would be very helpful if you would flesh that out. I would assume that what youre touching on is that when countries like europe and brazil and others are applying various restrictions and opportunities for access to our Digital Goods and services that this makes it hard for us to have that kind of seamless internet, but flesh out that concept, if you would of the balkanization of the internet becau
Operating under those circumstances. Miss wertheimer has the opportunity today to inform us how she will handle these exceptional challenges. I look forward to hearing from each of ou nominees on these important issues and more. Thank you, senator. There is an 11 00 vote scheduled for them. Its the law of sufficient time to allow questions. We have agreed to limit Opening Statements to the chair and Ranking Member. All senators will welcomed to submit an Opening Statement for the record. Senator curnan will now introduce mayor castro. Thank you mr. Chairman and Ranking Member crapo. Its my pleasure to be with you here today to introduce a fellow san antonioian and texan mr. Castro. He has told me that hes glad to be here and looked forward to your question buzz he especially looks forward to being back in san antonio to help celebrate the victory of the San Antonio Spurs which that celebration is still going on and will for a long time. I know he will take the opportunity to introduce
Ms. Wertheimer, please proceed. Chairman johnson, Ranking Member crapo, members of the committee, thank you very much for the opportunity to appear before you today. I am honored to be president obamas nominee for Inspector General of the federal Housing Finance agency. And before i begin, id like to introduce my family, who has accompanied me here today. My husband, andy pincus, our daughter, kate pincus, my steadfast mother, sidelle wertheimer. My inlaws walter and ann pincus. With that, let me get to the meat of what id like to say in my statement. The fhfa plays a crucial role in our Financial System as the safety and soundness regulator of fannie mae, freddie mac and the 12 regional federal home loan banks. To ensure they operate in a safe and sound measure and serve as a reliable source of liquidity and funding for Housing Finance. And as senator crapo mentioned, since september 2008, almost six years now, the agency has acted as conservator for fannie mae and freddie mac, to pro
There has been an acknowledgement of the special places around San Francisco bay. Well, there is something sort of innate in human beings, i think, that tend to recognize a good spot when you see it, a spot that takes your breath away. This is one of them. An icon of the new deal. We stood here a week ago and we heard all of these dignitaries talk about the symbol that coit tower is for San Francisco. Its interesting for those of us in the pioneer park project is trying to make the point that not only the tower, not only this manbuilt edifice here is a symbol of the city but also the green space on which it sits and the hill to which is rests. To understand them, you have to understand the topography of San Francisco. Early days of the city, the city grows up in what is the financial district on the edge of chinatown. Everything they rely on for existence is the golden gate. Its of massive importance to the people what comes in and out of San Francisco bay. They cant see it where they
Introduce my family who has accompanied me here today. My husband andy, our daughter, kate, my stead fast mother, my inlaws walter and ann pinkas. With that, let me get to the meat of what id like to say in my statement. The fhfa plays a crucial role in our financial system. As the safety and soundness regulator of fannie mae, fannie mac, and the 12 regional federal home loan banks. To ensure they operate in a safe and sound measure and serve as a reliable source of liquidity and funding for Housing Finance. As senator crapo mentioned, since 2008, almost six years now, the agency has acted as conservator for fannie mae and fannie mac to protect the assets and properties of those enterprises and protect the tax payers investment which is currently 187. 5 billion. Currently fannie mae and fannie mac guarantee more than 5 trillion in mortgages in this country. Three out of over four. Congress mandated strong independent oversight of Agency Programs and operations by the fhfa oig to safe g