Barney Frank: “The lack of regulation is unequivocally, clearly, undebatably the reason that we have the economic crisis we have today.”

I urge staff to pay close attention to the differences in products offered by nonbank institutions and to be mindful of Congress's intent in financial reform that State consumer protection laws be preserved to the extent possible.

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

One thing that not only Barney Frank, Ms. Barnes and also Sandra Day O'Connor, Justice O'Connor agreed on is that that Kelo decision stripped those three words out of the Fifth Amendment, 'for public use.'

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