Emanuel Cleaver actually said...
I think if Fannie and Freddie are to persist, either in government-sponsored form or in privatized form, we are going to have to build into--we are going to have to let them have capital, first, to protect taxpayers against loss in either system, a cushion to absorb losses, and they are going to have to have skin in the game.
Context
Cleaver discusses the need for Fannie and Freddie to have capital to protect taxpayers.
04/23/2013