On the recordFebruary 14, 2011
Well, it's actually the crux and the problem with our economy at this point in time. We actually had a government that disrupted the understanding of the way the risk was looked at. And we said, no, we don't need to follow anything, particularly in the housing industry. We actually saw bureaucrats saying, no, we don't need this application of risk. We can undermine it a little bit worse. And what we got is no skin in the game, no application, no money down, and what we had is a failure along Fannie Mae and Freddie Mac.
