The problem is the ambiguity is substantially similar. It kills this program, but it bans things that would be substantially similar so that innovator private sector entities trying to do something would be deterred because no one could tell them what substantially similar is.
The speaker is discussing the negative impact of ambiguity in legislation on innovation.
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More from Barney Frank
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.
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.'
I think it is clear that Fannie and Freddie are sufficiently secure so they are in no great danger.
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.
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