On the recordMay 17, 2010
I have a tremendously high regard for my colleague from Idaho. We serve on the Banking Committee together. He is more than just a member; he is an excellent member of the committee and brings great knowledge in the area of financial services. It is always with reluctance that one disagrees with someone they admire. I thank him for his work. For the last 38 or 39 months I have been chairman he has been a very valuable asset to our committee and a solid thinker. We have had a couple amendments already--the Ensign amendment and the McCain amendments--on the GSEs. We have had three amendments because I offered a side-by-side amendment on the government-sponsored enterprises, including Fannie Mae and Freddie Mac. Clearly, all of us, without exception, understand we must have reform of the GSEs. We need an alternative to the housing financing system. The present one is not working. We also understand in the absence of it, we would be in deep trouble in terms of housing issues today.
