Do you believe that derivatives, as we speak, play, overall, a positive role in the international economy?

It is not going to just go away like a Band-aid over it.

After more than 2 years of failed Keynesian programs, I believe the President needs to be provided with better advice, Dr. Krueger, that will help grow our economy, not the size and scope of Government.

Explain what you mean by G-series. That is Government----

We would have to have, one, the political will here to get rid of it.

Are we going to repeat this again? Are we going down that same road? Have we learned anything?

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.

Misguided housing policies pursued by the Federal Government and implemented by the GSEs played a significant role in causing the financial crisis.

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.

Is the idea of a guarantee, which ultimately lays the groundwork for a bailout, ... smart in our economy today?

A private market, in my opinion, will do just the opposite

We cannot get rid of an implicit guarantee. There is no way to do that.