Federal Reserve Bank of San Francisco

Reflections on the Crisis: The Need for Public Sector Entrepreneurialism

February 10, 2014

In 2012, Mercedes Márquez left her post as the U.S. Department of Housing and Urban Development’s (HUD) Assistant Secretary of Community Planning and Development to return to Los Angeles and resume her role as the head of its Housing Department (LAHD). By virtue of these dual roles, she had the unique opportunity to see the foreclosure crisis and the response from both the local and federal policy perspective.

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