TESTIMONY SUSAN M. WACHTER: "THE FINANCIAL CRISIS AND THE ROLE OF THE GSES"

Categorized | STOP FORECLOSURE FRAUD

TESTIMONY SUSAN M. WACHTER: “THE FINANCIAL CRISIS AND THE ROLE OF THE GSES”

TESTIMONY SUSAN M. WACHTER: “THE FINANCIAL CRISIS AND THE ROLE OF THE GSES”

“THE FINANCIAL CRISIS AND THE ROLE OF THE GSES”

Testimony prepared for

“FANNIE MAE AND FREDDIE MAC: HOW GOVERNMENT HOUSING POLICY FAILED HOMEOWNERS AND TAXPAYERS AND LED TO THE FINANCIAL CRISIS”

ON
MARCH 6TH, 2013

.

BEFORE THE
SUBCOMMITTEE ON CAPITAL MARKETS AND GOVERNMENT-SPONSORED ENTERPRISES
U.S. HOUSE OF REPRESENTATIVES

WRITTEN TESTIMONY
SUSAN M. WACHTER
Richard B. Worley Professor of Financial Management
Professor of Real Estate and Finance
The Wharton School
University of Pennsylvania
3733 Spruce Street
430 Vance Hall
Philadelphia, PA 19104

Government housing policy failed homeowners and taxpayers and it is important to understand why. The GSEs contributed to the meltdown. The direct cause of the crisis was the proliferation of poorly underwritten and risky mortgage products. The majority of these products, and the most risky products, were funded through private label securitization.

[ipaper docId=128894334 access_key=key-2ed21wptp1f8reio4mjb height=600 width=600 /]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Comments

comments

This post was written by:

- who has written 8690 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com

Archives