GARY G. MILLER: “we, the United States, should lead by example. We have an open capital market. That is the right message to send to…”

I applaud you all for your effort. It is working. You are talking about it today. You started the testimony today about how the numbers are decreasing.

We are all concerned about what is happening in the Democratic Republic of Congo, but if you believe in a rule of law, you are innocent until proven guilty.

If you look at the design of FHA, they were intended to play a countercyclical role, and in this downturn, that is exactly what they did as the private market withdrew, they moved in.

While a hybrid public-private model for Freddie and Fannie was fundamentally flawed, our focus should be a viable secondary mortgage market with sound underwriting principles.