Word: congressed
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...It’s pretty humbling, because this is the biggest initiative any of us in Congress will ever be a part of,” Pelosi said...
...there are scenarios in which even more recent loans could be bigger trouble than anticipated. For its annual actuarial review, which the agency delivered to Congress on Nov. 12, the FHA asked its outside auditor to run a series of doom-and-gloom scenarios - including one that assumes house prices continue to slide and unemployment hits 12.5%. Only in the most dire, and unlikely, of such simulations does the FHA run out of money to cover its losses, which is why FHA commissioner David Stevens has repeatedly said the agency will not need to ask Congress for money...
Former Fannie Mae executive Ed Pinto, who has testified before Congress on the state of the FHA, is not so certain. He holds that there are a number of other variables that could materially change the amount that the FHA will need to pay out in claims. For instance: how much money the agency can recoup from foreclosed properties, the growing social acceptability of borrowers' walking away from their houses and the chances that the riskiest loans in the market are finding their way to the FHA since it requires only a 3.5% down payment. Comparing FHA loans with...
...form an official tourism office. In 1996, under President Bill Clinton, the U.S. National Tourism Organization was launched, only to be abandoned three years later due to inadequate Congressional funding - as were subsequent efforts in 2001 and 2003. But as the 2009 Travel Promotion Act makes its way through Congress, it appears to have garnered enough support to be passed into law - and funded into action. U.S. Travel's Freeman concedes it will probably be another year before the Office of Travel Promotion is fully up and running. But he is confident that Washington will recognize the benefit of increased...
...deputy coordinator of the U.S. Malaria Initiative, says spending hundreds of millions before there's any proof that the plan will work is an ill-advised investment of finite malaria funds. "In the absence of evidence, it's a little difficult to make that leap," he says. Last year Congress specifically forbid any of the $48 billion the U.S. government slated for AIDS, tuberculosis and malaria from going to the AMFm program until it proved successful. "The biggest bang for the buck is prevention," says Nahlen...