Ed Royce: “I would like to thank the witnesses for coming here today to testify, and a special thanks to Peter Wallison from AEI.”

In the decade leading up to the financial crisis of 2008, Fannie Mae and Freddie Mac spent nearly $200 million on lobbying activities and campaign contributions.

But I will ask both of you, we have got to engage with countries across Africa even the most challenging countries.

Clearly there is strong bipartisan support for well-resourced, broad engagement in Africa.

I hope this Administration and this Congress have learned something from this failed duopoly and do the hard work necessary to reform our housing finance system.