Mr. Chairman, because this analyst was presented with the same research available to you--I hope it was the same--and found it credible enough to change his position, why have you not changed your position--or have you?--on the GSEs' role…

the less people have in the game, the less skin or money they have in the game, the chances are toward a default?

Who approved or looked the other way as this was going on?

They had it but they did not use it, right.

For some, the Commission's report represents a comprehensive record of the crisis. For me, it represents a missed opportunity.

that is, it sits in the taxpayer's lap, like it is today, Fannie and Freddie--and privatize the profits. That is a dangerous situation, is it not?

So while the bank crisis grew underneath their feet, they continued to sleep in a sense or look the other way.

And that is a time bomb, is it not?

Prosecutors ought to take a close look.

Looking for the weak regulator.

we do not have an implicit guarantee, we have an explicit, because Fannie and Freddie are sitting in the taxpayer's lap right now.

The GSEs 'followed rather than led' the private sector into subprime.