GARY G. MILLER: “We need comprehensive reform. But we need to look and ask, 'What did Freddie and Fannie do wrong? And how can we correct…”

Whether you support GSEs or not, if they are out of the marketplace in this market, it could be devastating.

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.

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

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