Forum on Critical Thinking, Innovation and Leadership
Discussion › Investors Unite Event/Teleconferences › Forum on Critical Thinking, Innovation and Leadership
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March 16, 2015 at 11:34 am #4956
Ferrum College Forum on Critical Thinking, Innovation & Leadership will address the topic of U.S. Housing Financing Reform.
U.S. Housing Finance Reform: Can we manage and control tax payer risk while assuring continued innovation in the market?
Tuesday, March 17, 2014 | Registration 8:00am | Program 9:00am – 12:00 noon | The Hotel Roanoke & Conference Center | LiveStream
The 2015 annual Forum will examine the causes of market weakness and possible solutions to restoring the vitality of the U.S. housing finance system while reducing taxpayers’ risk to potential future losses.The U.S. housing finance system has not recovered from the traumatic shock of the 2008 collapse in home valuations and the large financial losses imposed on lenders, homeowners, and taxpayers. The credit crisis resulting from the collapse is often cited as the primary cause of the Great Recession in the United States.
Fannie Mae and Freddie Mac remain in government conservatorship, which effectively amounts to government ownership. Almost 9 of every 10 new mortgages are currently financed by the government. This practice is widely regarded as unsatisfactory, inefficient, and unsustainable, but efforts to enact reform have gotten little traction in the Congress to-date.
Questions for discussion include:
How would the Housing Finance Reform legislation now before the Congress reshape this vital market?
Should Fannie and Freddie be wound down? How? Are there legitimate concerns about the “taking” of property from Fannie and Freddie shareholders by the federal government?
Is the Government-Sponsored Enterprise (GSE) a useful form of public-private partnership for achieving public policy goals?
Is a federal back-up guarantee for mortgages necessary to preserve a liquid market and easy access to credit with 30- year fixed-rate mortgages?
What are the most effective means of increasing the “affordability” of housing? Is there a continuing role for FHA?The 2015 Ferrum College Forum Panel of Speakers:
Edward J. DeMarco
Senior Fellow in Residence at the Milken Institute Center for Financial Markets and a Visiting Professor in the Owen Graduate School of Management at Vanderbilt UniversityGretchen Morgenson
Assistant Business and Financial Editor and Columnist at the New York TimesDr. Michael A. Stegman
Counselor to the Secretary of the Treasury for Housing Finance Policyhttp://www.ferrum.edu/campus_life/events/forum_on_critical_thinking_innovation_and_leadership/
March 16, 2015 at 11:34 am #4957March 17, 2015 at 8:50 am #4969March 17, 2015 at 8:52 am #4970Live Stream is running at 8:51
March 17, 2015 at 9:06 am #49719:04 - Opening remarks and thanks to different sponsors.
March 17, 2015 at 9:07 am #4972Where are we when we think about the recovery and moving forward?
Buffering….
March 17, 2015 at 9:12 am #4973Mark Warner is live streaming into the event. He is applauding Ferrum for bringing these people together.
Warner says that he has spent the past five years trying to learn about housing finance.
March 17, 2015 at 9:13 am #4974Warner has just blamed Fannie and Freddie for the housing crisis.
March 17, 2015 at 9:14 am #4975Warner says that one area that needs further addressing is housing finance reform. He says the current system of “private sector gains and public sector losses” cannot be sustained.
(Who is taking all the profit again?)
March 17, 2015 at 9:17 am #4976Warner is talking about Corker Warner and how the bill passed the Senate banking committee.
Basic tenants of Corker Warner (according to Warner)
1. Do no harm….(really??)
2. 10% capital thresholds ($500 billion needed, which means higher guarantee fees needed)
3. More competition in the market, but ultimate backstop would still be the federal government
4. Social purpose of helping people have access, but also charge a fee on mortgages to pay for the government guarantee.March 17, 2015 at 9:19 am #4977Gretchen Morgenson has just been invited to the stage.
March 17, 2015 at 9:21 am #4978Martin Faup? has just joined the people on stage.
March 17, 2015 at 9:22 am #4979How did we get into this mess?
Could it happen again?
What can we do to make sure history does not repeat itself?March 17, 2015 at 9:25 am #4980Gretchen Morgenson is the first speaker.
Opening remarks…
What caused the crisis of 2008?
Lots of history to pack into 20 minutes.One thing that we all heard after the crisis is that there are a number of narratives and the lack of accountability.
March 17, 2015 at 9:25 am #4981Gretchen Morgenson says that people blame the government and wall street for the crisis
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