Did you consult with the Treasury Department while you were establishing the current compensation arrangement?

If Congress had acted, taxpayers would not be subsidizing the pay of Fannie and Freddie executives.

In your view, should the Federal Housing Finance Agency take stronger action to discipline the GSEs for their failure to manage operational risk?

If Congress had acted, a comprehensive solution could have been devised to deal with foreclosures and struggling homeowners.

Today, as the Chairman has mentioned, the Committee will hear the testimony of the Inspector General of the Federal Housing Finance Agency.

The Preferred Stock Purchase Agreement--I alluded to that earlier--established the rules by which the taxpayer funds the bailout of Fannie and Freddie.

How does the compensation arrangement of Fannie and Freddie compare with that of AIG and other TARP recipients?

FHFA was created to be an agency independent of executive branch influence, whoever the party was in power.

It is my understanding, although it has not yet passed Congress, that the Conference Report for the appropriations bill is probably going to contain or will contain a compromise on conforming loan limits that would raise the loan limit…

If at any point during the last 3 years the administration and the majority party had done more than talk about the need for reform, we might be looking at a very different picture in the housing market.

If Congress had acted, Fannie and Freddie could have been prevented from crowding out the private sector by backing 71 percent of mortgage originations.

It is absolutely essential for the Agency to be independent and to act independently.