Corker Responds To Reports Of FHA Bailout

Wednesday, September 25, 2013

Senator Bob Corker, R-Tn., a member of the Senate Banking Committee, released the following statement responding to reports that the FHA will need a taxpayer-funded bailout from the U.S. Treasury to remain solvent:

“No reasonable person could believe that we should continue along with the current housing finance system in this country when three separate entities – Fannie, Freddie, and, according to reports, now the FHA – have all had to come to the taxpayer for billions of dollars in bailout funds,” said Corker.  

In July, Senator Corker commended the Senate Banking Committee for approving the bipartisan FHA Solvency Act of 2013, saying, “I applaud Chairman Johnson and Ranking Member Crapo for passing a bill that puts in place necessary tools and resources to get the FHA on better footing, and I am glad they have committed to building on this momentum and quickly moving a structural and bipartisan housing finance reform bill.”

In June, Senator Corker and Senator Mark Warner, D-Va.., introduced S. 1217, the Housing Reform and Taxpayer Protection Act of 2013, which would strengthen America’s housing finance system by replacing government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac with a modernized system that preserves market liquidity and protects taxpayers from future economic downturns.

Cosponsors of S.1217 include Mike Johanns, R-Ne., Jon Tester, D-Mt., Dean Heller, R-Ne., Heidi Heitkamp, D-N.D., Jerry Moran, R-Ks., Kay Hagan, D-N.C., Mark Kirk, R-Il., Joe Manchin, D-W.V., and Saxby Chambliss, R-Ga.

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Real Estate Transfers For Oct. 1-7

NOTICE: The Hamilton County Register’s Office did not publish this data. All information in the Register’s Office is public information as set out in T.C.A. 10-7-503. For questions regarding this report, please call at 423 266-2325. GI numbers, listed when street addresses are not available, refer to the location of transactions (book number and page number) ... (click for more)

Attorney Patrick Says Chattanooga Is "Most Logical Place" For Consolidating Volkswagen Lawsuits; Hearing Set Dec. 3

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Woman Stabbed To Death On Hooker Road; Man Injured; Suspect Being Interviewed

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The Facts About Jail

Since Roy had such a positive reaction to Jeffrey Cross's wonderful (and wonderfully civil--how refreshing) email response to his column on the bike lanes, allow me to speak on the subject of the jail.  First off, Roy's right about some things:  It is overcrowded, underfunded, and understaffed.  This is no secret, it's in the Grand Jury report every term.  Here's ... (click for more)

Roy Exum: We Must Learn To Tell

On July 4th of this year, FBI agents – acting on a tip -- arrested Alexander Ciccolo, a 23-year-old with known mental problems, as he carried a duffle bag full of automatic attack weapons. Moments before, he had bought the illegal firearms from an undercover informant outside of Boston. As agents later scoured his apartment, they found bomb-making equipment including a pressure ... (click for more)