"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."
"The status quo means Government control of nearly all of our Nation's mortgage-backed securities market, stifling financial innovation."
"We must learn from these mistakes."
"We cannot afford to return to the days of weak regulatory oversight of the secondary mortgage market."
"As we address this important issue, we must not return to the flawed politics of the past."
"The President promised, we can cut the average family's premium by about $2,500 a year."
"The law is not working as it was promised."
"The President promised, if your family makes or earns less than $250,000 a year, you will not see your taxes increased a single dime."
"The President promised, if you like your doctor, you can keep your doctor."