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Does Washington have the American taxpayers’ interests as their top priority? Watch as lobbyists drown out your voice and Peter fights the tide.

Go to http://www.TinyURL.com/RealCrash to order my new book, “The Real Crash: America’s Coming Bankruptcy—How to Save Yourself and Your Country”

6:06 – My Opening Statement

11:16 – “I don’t know whether to go to Mr. Schiff or not, but I guess I will” – Judy Biggert (R)
I explain to Chairwoman Judy Biggert why federal involvement in home lending has created more problems than it has solved.

16:22 – “Despite all the sound and fury, there’s not a lot of details…” – Robert Hurt (R)
My proposals that old regulations be repealed, rather than new ones proposed, in order for the free market to come up with solutions are repeatedly lost on Congressman Robert Hurt.

25:16 – “Mr. Schiff, I just have one question…” – Emanuel Cleaver (D)
Congressman Emanuel Cleaver II unsuccessfully tries to ‘nail’ me. Instead, a spirited discussion ensues in which I remind the congressman of the moral hazard and economic costs of government subsidies.

30:38 – “Maybe that happens in an Ayn Rand novel…” – Dan Sherman (D)
Congressman Dan Sherman asserts that as a practical matter the federal government, in one way or another, insures all homes, and that only characters in an Ayn Rand novel would believe otherwise.

THE HEARING:

Oversight of Federal Housing Administration’s Multifamily Insurance Programs

THE PANEL:

Ms. Marie Head, Deputy Assistant Secretary, Office of Multifamily Housing Programs, Office of Housing, Federal Housing Administration

Mr. Michael Bodaken, President, National Housing Trust

Ms. Sheila Crowley, President and Chief Executive Officer, National Low Income Housing Coalition

Ms. Mary Kenney, Executive Director, Illinois Housing Development Authority, on behalf of the National Council of State Housing Agencies

Mr. Rodrigo López, President and Chief Executive Officer, AmeriSphere, on behalf of the Mortgage Bankers Association

Mr. Richard L. Mostyn, Vice Chairman and Chief Operating Officer, The Bozzuto Group, on behalf of the National Multi Housing Council

Mr. Robert F. Nielsen, Immediate Past Chairman, National Association of Home Builders

Mr. Joseph L. Pagliari, Jr., Clinical Professor of Real Estate, The University of Chicago Booth School of Business

Mr. Peter Schiff, Chief Executive Officer and Chief Global Strategist, Euro Pacific Capital

SPREAD THE WORD! Let more people take an inside look at the inner workings of Washington D.C.

FULL testimony here: http://www.youtube.com/watch?v=hEx1b4uaZ8k

Watch Peter’s last testimony here:
Part 1 – http://www.youtube.com/watch?v=FLmD9TeUC54
Part 2 – http://www.youtube.com/watch?v=xZbQGpf3D_Q