Barney Frank: “Is there a danger if we were to adopt say-on-pay or some of the other rules that you are proposing, that we would have…”

Fannie Mae and Freddie Mac do very good work, and they are not endangering the fiscal health of this country.

It was a great mistake to push lower income people into housing they couldn't afford and couldn't really handle once they had it.

I think it is clear that Fannie and Freddie are sufficiently secure so they are in no great danger.

For example, there are key differences in product characteristics between payday, car title, and other high-cost secured loans and more traditional closed-end unsecured lending and related products, and the products are often regulated…