Bill Delahunt: “Now here we are, heading towards an election, with obviously complex legislation to be drafted based upon those…”

If they want the market to function in a way where there is no government support, intervention, regulation, they will discover it if there is another September of 2008; it will be a debacle.

I believe ardently that it is the responsibility of these Committees to do the oversight that is necessary to repair the damage that was done in the preceding Administration to America's image.

That is why I take offense when I hear it is the Community Reinvestment Act that did this. That is baloney.

I wanted to note that in hearings before the Committee which I Chaired there were a number of military prosecutors that testified that described that entire process as a sham, a joke and a fraud being perpetrated.