I tried to repeal the CRA right here in this Committee, because what we are doing, we are telling the market to make these loans for political reasons.
Are we going to repeat this again? Are we going down that same road? Have we learned anything?
Can our mortgage market operate efficiently without a Government guarantee?
However, if the Committee decides that the housing market can and should function without a Government guarantee, reform will then focus on ...
Misguided housing policies pursued by the Federal Government and implemented by the GSEs played a significant role in causing the financial ...
The implicit, so-called cost-free guarantee of Fannie Mae and Freddie Mac has already soaked the American taxpayer for over $170 billion.
That is not chump change, is it?
Sure.
A private market, in my opinion, will do just the opposite
Is the idea of a guarantee, which ultimately lays the groundwork for a bailout, ... smart in our economy today?
We cannot get rid of an implicit guarantee. There is no way to do that.