Mike Crapo actually said...

"The status quo means Government control of nearly all of our Nation's mortgage-backed securities market, stifling financial innovation."

"These realities prove that inaction carries its own dangers in our housing market, as does action that merely gives the appearance of change without recognizing the mistakes of the past."

"The status quo means little, if any, reduction in the $5 trillion of outstanding mortgage debt to which the taxpayer is currently exposed."

"The issue of how we transition into a future system is one of the most important topics we will cover in this series of housing finance reform hearings."