Word: kemp
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Whether as a pro quarterback or a political pro, Jack Kemp has always been nimble and quick. Those qualities came in handy last week, as he dealt with the scandal at the Department of Housing and Urban Development, which has billowed from a candlestick into an inferno. Before celebrating his 54th birthday with 54 cakes from admiring employees, the beleaguered HUD chief wryly conceded, "When I first took the nomination from President Bush, I wanted to make HUD a high-profile agency. I don't think this is what I had in mind...
...less than six months on the job, Kemp also has suspended or canceled two other programs: HUD's rental rehabilitation program and a loan insurance program that financed such luxury projects as golf course condominiums...
...Kemp said that in addition to direct losses, the program which he suspended yesterday has incurred loan defaults in excess of $250 million...
...project identified in the audit was a Florida development that served upper-income people and charged $2100-a-month rent for two-bedroom units, the department said in a statement that announced Kemp's decision to suspend the program...
...Kemp announced his action as congressional aides said several prominent figures in the investigation will be called to testify again, including former HUD Secretary Samuel Pierce...