Edward Royce actually said...

"I do think we have to force the FHA to deal with its fiscal woes."

"Government policies...are going to steer borrowers to the FHA and further crowd out the private market."

"Let me also make another observation because I think your analysis has been the most inclusive of any that I have seen."

"But what was so unusual here was that we set in place a moral hazard situation with the GSEs like no other."