Edward Royce actually said...

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

"I remember very vividly the Federal Reserve Chairman speaking with me, the warnings that we were given on the inability of the Fed to regulate Fannie and Freddie for systemic risk."

"I think he got that very wrong."

"I was vehemently against the Bush administration's decision to remove North Korea from the SST list."