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.
Miller critiques the flawed structure of GSEs in housing finance.
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On the recent ruling on Basel III, you acknowledge insurance companies are very different from banks, and you postponed any negative decision on that. I think that was a very, very wise move.
We are starting to see a rebound in the housing market, and that is really important to the economic recovery of this country and for job creation.
I enjoyed your opening statement. You talked about empowering consumers, fair, transparent, and competitive marketplaces, and dealing with bad actors.
NAFCU believes that any relief efforts should not bifurcate the industry by asset size and would not support such an approach.
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