FHA Loans In The Hands Of Elected Politicians

By Peter Schiff

Yesterday, for the second time in less than a year, I was 
invited to Washington to testify in front of a Congressional 
Committee that was contemplating regulatory moves to aid the 
struggling economy. This time around it was the House 
Subcommittee on Insurance, Housing and Community Opportunity 
that asked for my views on Federal Housing Administration's 
(FHA) policy in the apartment lending market. Although this 
is a fairly narrow issue, I told them the same thing I did 
last year when I testified about job creation. 

Peter Schiff Goes To Washington - Round 1

Government programs don't solve problems, they just create new ones. While I 
thank the Committee for inviting me, I believe the congressmen may have gotten 
more than they bargained for. I can apologize for shaking up what would have 
otherwise been a sleepy and forgettable proceeding, but I won't apologize for 
trying to inject respect for the Constitution and free market capitalism into a 
venue that has been doing its best to destroy both. 

I have edited down the more than 2 hour hearing into a package of slightly more 
than 30 minutes. This includes all of my testimony and some of the more 
noteworthy exchanges I had with the congressmen. The seven other people who 
testified besides me all represented the many interest groups who benefit from 
FHA loans. I represented only the interests of U.S. taxpayers, a group that 
congressmen usually don't hear from when considering legislation.

Peter Schiff Goes To Washington - Round 2

This video should give all Americans a better idea of how insulated Congress
is from the American taxpayers who are being asked to pay for the government’s
spending and borrowing. If you share my concerns, share this video with a friend.
Viral videos have a singular power to influence the national conversation. Let’s
get it started.