Spencer Bachus

I would like to hear from all three.

Maybe that will get in a newspaper article tomorrow.

I do commend the agencies for doing that.

I can certainly see how that fits your description.

I think it was a mistake to intervene and make the AIG investors... whole.

Bottom line, I think the American people are in a state of bailout fatigue.

I agree we ought to look at the credit risk retention requirement, and originators should have skin in the game.

The goal ought to be to address problems in mortgage origination and in our subprime mortgage system, not create new problems.

Let me be very clear. It is time that we extricate ourselves from the cycle of multi-billion dollar taxpayer-funded bailouts.

I find very few in insurance.

I think at least implied is that the regulation in insurance had failed, but I really do not see any evidence of that.

This will be the most difficult decision I make in my 16 years in this body. And I have decided that the cost of not acting outweighs the cost of acting.

As I said, in closing, I want to thank Chairman Frank of the full committee for his willingness to allow this unanimous consent request to be adopted. And as he would agree, this allows this very important piece of legislation to go to the…

Well, as I said a few minutes ago to the chairman, with all respect to the chairman, we have 19 days. We've talked about the importance, particularly on that side of the aisle, and many Members on our side, the importance, if we are going…

I compliment the author, Mr. Green, for this amendment. I would anticipate and hope that with the passage of this amendment that mortgage originators would receive instructions on these subjects. So I very much am in support of the…

The chairman is correct. Section 107 was designed and implemented to give the Federal bank regulators flexibility in implementing the national registry. And it is the intention of the committee, of the entire committee, that, as they do…

What we're doing here is we're taking money to fund this large expansion of Federal housing, we're not taking it from the 30 existing programs that specifically address low-income housing, elderly, disabled, AIDS, senior citizens. We're…

Back in June, when you released your press statement, you said this trust fund would be the largest expansion of Federal housing in decades and that was June 28.

CDBG, those programs under HUD, designate money to all of the States, to many local governments, and to our different territories. In addition to that, you have the HOME program. You have patterned this bill, if you look at it----

I care about the American people. They have a right to know. They have a right to disclosure.

Chairman, your response does indeed clarify the situation, and I thank you for doing that. And I again thank you and the gentleman from Ohio (Mr. Gillmor) for their work on this important bill. I would also like to join with you. You have…

If there is validity in taking $3 billion, there's $3 billion over there that we can take from the GSEs and we can do it without affecting their stability... But you know, before we start addressing that need, let's keep our promises to…

This actually is a government-sponsored entity. And what we do in this bill is we try to separate and say that there is no implied guarantee by the government for this entity; it needs to generate its own profits. And it does that from…

I said earlier in the debate, we do not need another housing program. If we determine that the 90 some-odd housing programs are not being effective in addressing the needs of low-income and middle-income Americans, then we need to first…

And that this was a nonbinding resolution. But I believe this actually is not a nonbinding resolution.