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.
Cleaver discusses the need for Fannie and Freddie to have capital to protect taxpayers.
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