06/25/2012
https://www.congress.gov...
"It is clear that the old way of doing things failed on a massive scale."
"If the Committee decides that the housing market needs a Government guarantee, then it is likely that housing finance reform will be largely a debate over how to structure the guarantee."
"We cannot get rid of an implicit guarantee. There is no way to do that."
"Is the idea of a guarantee, which ultimately lays the groundwork for a bailout, ... smart in our economy today?"