Barney Frank News

“Expanding the . . . program to include combined flood and wind policies could increase the NFIP's oversight responsibilities as well as making resolving existing management challenges more difficult”

Adding hurricane wind coverage to the National Flood Insurance Program would create new challenges for a program that's already having trouble managing its duties, a report released Tuesday by the Government ... via Times-Picayune

Comment?

The U.S. House Thursday disregarded a veto threat and approved legislation to provide $15 billion to the states to buy and improve foreclosed properties. via Daily India

Comment?

“That's sticking our policymaking heads in the sand.”

The House passed yesterday the most sweeping government plan yet to shore up the troubled housing market and help people struggling to pay their mortgages, adopting legislation that would underwrite $300 ... via Baltimore Sun

28 comments

“He did apologize for misspeaking at Southern Comfort. But I think there was a lot of anger, disappointment and a lot of emotions for a lot of people”

Joe says he 'misspoke' at the trans conference. If you want to see what 'misspeaking' looks like, go see what he said for yourself: http://www.youtube.com/watch?v=v_GhTiBO8Cw HRC president apologizes for - ... via Left In SF

Comment?

“Diminishing the number of foreclosures is in the interest not simply of those who will avoid foreclosure, but people in their neighborhood, (in) the cities in which they are located, and the whole economy.”

The House on Thursday passed a massive homeowner rescue plan to provide cheaper, government-backed mortgages to half a million debt-ridden borrowers and bolster an economy crippled by the housing crisis. via Charlotte.com

Comment?

Republicans in the U.S. House of Representatives accused Democrats of stifling debate on measures addressing the mortgage crisis Wednesday. via The Post Chronicle

Comment?

“We are moving toward an omnibus housing bill that includes something for everyone. The danger with massive bills is that they often collapse under their own weight. That is an increasing risk here”

The House on Wednesday will begin debate on a housing package that would let the government back loans for homeowners at risk of foreclosure - a move many Republicans have opposed. via SI.com

Comment?

“In addition, it is important that the hearing shed light on Mississippi's transfer of housing funds to the Port of Gulfport.”

Mississippi's decision to divert $600 million from a hurricane housing program to a port improvement project will be one of the key topics of a congressional hearing on the use of federal block grant funds. via NOLA.com

Comment?

“If we continue minting coins with the current metal content, with each new penny and nickel we issue, we will also be contributing to our national debt by almost as much as the coin is worth”

Further evidence that times are tough - it now costs more than a penny to make a penny. via KEPR 19

Comment?

“High rates of delinquency and foreclosure can have substantial spillover effects on the housing market, the financial markets and the broader economy”

As the House prepared to take aggressive steps to stem the wave of home foreclosures, Federal Reserve Chairman Ben S. Bernanke on Monday night endorsed the need for government intervention, saying that letting ... via Newsday.com

1 comment