Former Housing and Urban Development Secretary talked about the Clinton administration's efforts to raise the homeownership rate to 66 percent. He also talked about the subprime market and predatory lending practices. Other topics included the government sponsored enterprises Fannie Mae and Freddie Mac. He noted that both are still needed, particularly in minority homeownership situations, but he believes they will change from their current structure.

This program was part of an Atlantic and National Journal joint economic summit on the impact of the economic crisis on housing and the next generation of home buyers.