GARY G. MILLER: “I heard one of my good friends from the other side of the aisle say that the Bush Administration did not support…”

I enjoyed your opening statement. You talked about empowering consumers, fair, transparent, and competitive marketplaces, and dealing with bad actors.

I have always had a problem with the way they were fundamentally flawed. You had a hybrid situation where the private sector made all the profits, and the taxpayers took all the risk, which was problematic from the beginning.

If we are concerned about empowering consumers, we really should be concerned about their safety.

I have some real concerns with that. I have had a concern with the definition between subprime and predatory for years, and I am glad to see we are going to finally deal with it.