The consensus among policymakers and industry stakeholders is that the private sector should have a leading role in housing finance reform, supported by an explicit but catastrophic-only government backstop. The new system would put considerable private capital at risk before a taxpayer guarantee comes into play. Numerous details remain to be worked out, however, and the choices have important consequences for American homeowners, the financial markets and the broader economy. What are the prospects for reform, and what would the transition look like? How would housing finance and the housing market itself evolve if reform is delayed?
Donald Layton, CEO, Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC)
James Lockhart, Vice Chairman, WL Ross & Co.
Drew Newton, Managing Director and Head, U.S. Distressed Credit Desk Analysts, Citi
Josh Rosner, Managing Director, Graham Fisher & Co.
Gene Sperling, Former Director, National Economic Council, The White House
Phillip Swagel, Senior Fellow, Milken Institute; Professor, University of Maryland School of Public Policy