Opening statements, comments, or prepared statements of: Senator Shelby.
I do not believe there is any dispute that our housing finance system is broken.
But Secretary Geithner basically says that any Federal guarantee should be priced according to the risk, without any political consideration...
the mortgage finance system should be, quote, "capitalized sufficiently to withstand losses on defaulting mortgages that would result if hou...
Our once dynamic and innovative housing market is now stagnant and damaged, crippled by regulatory uncertainty.
But it has not come yet, has it?
How do we bring back an appetite in the private market for mortgage-backed securities?
So you are not advocating here that you want a Government guarantee for everything in the real estate industry bills, are you?
I think we are interested in providing opportunities for home ownership. It will not be for everybody.
I thought for a long time, before it was all abuse and misused, that securitization was good for America.
Because we are thinking about the taxpayers right now.
I think that market should be supported by the private sector. It is $720,000--you are talking about a $900,000 house. I do not believe that...
I mean, you know, if you are getting a big loan, say $700,000 or $650,000, that is a pretty good size loan for the average American, whether...
Federal housing policies must be adequately assessed, and proper homework must be done before action is taken.
I meant work with some people you do not need to work for.
the ultimate success of the Dodd-Frank Act depends to a certain degree on market perception.
The too-big-to-fail doctrine is a flawed doctrine from the beginning, is it not?
Well, you have to do the metrics. You have got to measure this, have you not?
