on behalf of our hud secretary shaun donovan and our system the abilities officer, i am so proud to represent, and our regional administrator, to represent hud here. i want to ask you to please give a very, very warm reception to the regional administrator from epa. please, sir. [applause] >> thank you to leader pelosi. most of the things that you look around and see in san francisco would not have been done without the amazing amount of work that she does for the city and county of san francisco. it is an amazing privilege to be on the panel with her today congratulations to mayor lee for his recent appointment and to everyone else here on this exciting day. i used to work just next to city hall and run my bike down mcallister every day for nine years, so i saw this place going up. what it really tells us is that you can do all the great things we heard at the beginning. for 120 formerly homeless people, you can do it in a way with no additional parking. it followed a green point rating system. it internalized many of the values that san francisco holds tier, which is bringing transportation

housing development shaun donovan, and then eric schneiderman, as we told you and then john walsh. tony west, and lanny brewer. some of the people on here are question marks. khuzami has done nothing so far. he has done nothing so far under obama, and then lanny brewer used to be at a law firm who defended the top banks and said they were, of course, didn't do any of this stuff. you know who else worked at that bank along with brewer? eric holder. these guys have been protecting the big banks all along. what did president obama do? as he always do. he brought them inside the administration to protect the big banks there. is it going to be brewer or schneiderman? attorney general holder had this to say. >> aggressively pursuing any and all leads. as part of our investigations, the department of justice has issued several subpoenas relate relating to residential mortgages and you can expect more to follow. >> i'm incredibly dubious of anything that eric holder says or does. i was excited when he was first selected but he has done almost nothing to pursue the banks in thee three years

thank you and now let me introduce shaun donovan. >> thank you.esday night, president obama laid out a blueprint for an economy to last. he said this is a make or break moment for the middle class and those trying to reach it. and that what is at stake is the basic american promise that if you work hard, you can do well enough to raise a family, own a home and put away a little for retirement. unfortunately, that did not describe our economy in the years leading up to the crisis. nowhere was that clearer than in the housing market. mortgages were sold to people who could not afford or understand them, banks made huge bets and bonuses with other people's money. we all paid a very steep price. house prices sank for 30 straight month in a row. by the time the worst of it was over, our economy lost 8 million jobs. since those dark days, we have made very real progress. foreclosure notices are down 45% since early 2009. more than 5.5 million families have received mortgage modifications with affordable monthly payments. we will be announcing more relie