Bernanke's Testimony to the House Financial Services Committee

Federal Reserve Chairman Ben Bernanke testified today before the House Financial Services Committee on "Subprime Mortgage Lending and Mitigating Foreclosures".  This is one of the clearest, most succinct summaries of the evolution of subprime mortgage lending -- benefits and downsides -- as well as securitization of these mortgages and the effect that has had on lenders, investors, and the financial markets. 

Chairman Bernanke also discusses potential regulatory and Congressional responses.  One of the key recommendations has to do with more even regulation of ALL lenders.

Link:  http://www.federalreserve.gov/newsevents/testimony/bernanke20070920a.htm

(ag) Sept. 20, in Subprime Lending