Congressional Oversight Panel; Printed from http://cop.senate.gov.

Clark County, NV: Ground Zero
of the Housing and Financial Crises

Overview

On December 16, 2008, the Congressional Oversight Panel for Economic Stabilization held its first field hearing, in Clark County, Nevada.  Clark County suffered from over 30,000 foreclosures for 2008, an increase of nearly 300% from 2007.  Overall, Nevada has had the highest foreclosure rate in the nation for 23 months.

The hearing took place at the Thomas and Mack Moot Court at the University of Nevada-Las Vegas Law School.  Three Panel members attended the hearing: Elizabeth Warren, Richard H. Neiman, and Damon Silvers.

At the hearing, the Panel sought information from a broad spectrum of sources about the nature and cause of the current financial situation, the impact of federal government actions to date to address the economic crisis, and local initiatives to address the crisis.

Witness List

Witness
George Burns, Commissioner,
Nevada Financial Institutions Division
R. Keith Schwer, Director,
Center for Business and Economic Research, UNLV
Bill Uffelman, President & Chief Executive Officer,
Nevada Bankers Association
Gail Burks, President and Chief Executive Officer,
Nevada Fair Housing Center
Julie Murray, Chief Executive Officer,
Three Square Food Bank
Danny Thompson, Executive Secretary-Treasurer,
Nevada State AFL-CIO
Alfred Estrada, Resident of Clark County

Watch the Hearing

Statements

Panel Member Statement
Damon Silvers
Statement