Bernie Moreno Accuses Democrats of Ignoring FDIC Chair Misconduct for 18 Years

FDIC Chair Misconduct and Democratic Response

• 📌 Senator Bernie Moreno accuses Democrats of ignoring the misconduct of former FDIC Chairman Martin Gruenberg.
• 💡 The Wall Street Journal broke the story in November 2023, yet Gruenberg was not asked to resign until May 2024, six months later.
• ⚠️ Moreno highlights that Gruenberg resigned but remained in his position until January, continuing to receive a paycheck after being disgraced.
• ⏳ The scandal reportedly spanned 18 years, with Gruenberg serving as chairman for 10 of those years, while Moreno has only been in his current role for 10 months.

Housing Affordability and Policy

• 📊 Moreno challenges the notion that housing costs are rising, citing the National Association of Realtors' housing affordability index.
• 📈 The index shows houses have become 6.5% more affordable since January, with significant regional variations.
• 🏠 He questions whether policies in blue states and cities contribute to housing unaffordability, contrasting them with Republican-run states.
• 🗣️ Moreno requests that the housing affordability index numbers be entered into the permanent record to counter potential political misinformation.

FHA and HUD Loan Programs

• 🛠️ Cassidy states a focus on taking inventory of FHA and HUD loan programs to deregulate, streamline, and reduce government overreach contributing to housing costs.
• 🏦 Gormley affirms that Ginnie Mae will continue to serve as a conduit for global capital to enable affordable home ownership and rental opportunities, aiming for increased efficiency.