At this AEI event, Wharton professor Joseph Gyourko discusses the implications of his research on the Federal Housing Administration. Edward Pinto, AEI scholar and housing finance expert, will respond.

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As the US debt continues to grow, HUD officials still fail to own up to the massive liabilities on their books that could cost taxpayers mightily. In a point by point refutation, Wharton professor Joseph (Joe) Gyourko responds to HUD's attack of his recent AEI report.

HUD recently issued its first official response to the report "Is FHA the Next Housing Bailout?", providing important insight into the perspective of HUD’s leadership on the issue of the solvency of the FHA insurance fund.

Leveraged bets as high as 30 to 1 on risky investments with little equity cushion against potential losses is what helped bring down the likes of Lehman Brothers, Bear Stearns, Fannie Mae and Freddie Mac. Think it can't happen again? It's about to—with the Federal Housing Administration.

Wharton School professor Joseph Gyourko explains in a new research paper, Is FHA the Next Housing Bailout?, that the FHA will need a massive $50 to $100 billion bailout unless the economy makes a swift recovery.