Let's not pretend that it is the panacea and answer to every issue that faces people with housing problems.

I hope that this year we will be able to go forward. I think many of us see a value in expanding this program and making sure that it works.

I actually think that the comments that were made earlier on competition and choice and level playing field and coordination of regulators are all 100 percent correct.

The only thing I am interested in is having no more taxpayer bailouts for people who give out mortgages.

I want to get it right, too.

I totally agree that we need to be careful, and that is what we are doing here.

I thank the gentlewoman for yielding. Look, this bill is not going to create jobs in America. This bill is all about foreign swaps. If we're going to create jobs, we're going to create them in foreign countries. By the way, Dodd-Frank…

I think that seems to be the right way to go, to have the open discussion in a debate.

It seems ridiculous that you can't get in the room and participate in the discussion.

I think those are fair and reasonable concerns.

we should never give up our regulatory scheme to any other country, which, by the way, we just did yesterday on the Floor of the House.

There is no one person or no one entity as far as I am concerned that I want to give every ounce of power to.

Thank you, Mr. Chairman. I want to thank all the panel members. I think this may be the most distinguished panel I have ever seen.

What this bill says is if you do this activity in the United States of America, you'll be subject to certain regulations. If you do the exact same activity through a subsidiary in a foreign country, you will not be subject to our…

Again, Mr. Chairman, thank you for having this hearing. I think this is one of many hearings we are going to have on how the whole Federal involvement, whatever limited involvement or whatever it might be relative to insurance regulation…

I just find it kind of an interesting juxtaposition.

I absolutely agree that we need to do something with Fannie and Freddie, first of which is we should stop using them as a piggybank and allow them to pay down their debt.

I would love to increase the homeownership rate.

Will there be private mortgages? Of course, there will. Affordable? I don't know where you live; they are not affordable in most of my district.

I would like to note that every penny that has been paid back, the government has made a very good profit.

I want to associate myself with the remarks of Mr. Meeks and Mr. Neugebauer. I do agree with them.

the country is watching. All of us are watching, and you know that.

But, as it is currently done, they will not be able to get out of conservatorship because they will still owe us $187 billion at any given time.

I think that is ridiculous. I think FHA should be allowed to draw when they need the money, but should not be required to draw when they do not.

I can't imagine anybody in their right mind would want us to go back to the 2008 standard.