CEPR - Center for Economic and Policy Research

Multimedia

En Español

Em Português

Other Languages

Home Publications Blogs CEPR Blog Baker Testifies on Turmoil in Credit Markets

Baker Testifies on Turmoil in Credit Markets

Print
Friday, 11 April 2008 12:58
The Senate Committee on Banking, Housing and Urban Affairs asked Dean Baker to testify at a hearing yesterday, "Turmoil in U.S. Credit Markets: Examining Proposals to Mitigate Foreclosures and Restore Liquidity to the Mortgage Markets". Also testifying were Lawrence Summers, former U.S. Treasury Secretary, and representatives from the Center on Responsible Lending, the Brookings Institution and Lenders One, a national alliance of mortgage bankers.

Dean Baker argued that the situation in the housing market represents the largest economic crisis the country has faced since World War II. He went on to say that current legislation, while appropriate for some parts of the nation, will not address the needs of homeowners in bubble-inflated markets. You can read Dean's testimony here.
Comments (0)Add Comment

Write comment

(Only one link allowed per comment)

This content has been locked. You can no longer post any comments.

busy
 

CEPR.net
Support this blog, donate
Combined Federal Campaign #79613
budget economy education employment Haiti health care housing inequality jobs labor labor market minimum wage OccupyWallSt poverty recession retirement Social Security taxes unemployment unions wages Wall Street women workers working class

+ All tags