Bloomberg Senior Economic Analyst, Nela Richardson, is joined by HUD Secretary Shaun Donovan; James Lockhart, Vice Chairman WL Ross and Former Director FHFA; and Jim Millstein, Chair and CEO of Millstein & Co and former Chief Restructuring Officer of the US Treasury.
Panelist talked about the state of the housing market and how to fix it. Secretary Donovan discussed the Obama Administration’s policies to try to jump start the housing market. Both Lockhart and Millstein highlighted the importance of reforming the mortgage giants Freddie Mac and Fannie Mae, currently under government conservatorship. All agreed that the government should reduce its role in the housing sector and encourage private capital to return to the mortgage market.