03/03/2010
https://www.congress.gov...
"As we examine the housing finance, the question before us is this: What is the role of the private market and what, if any, is the role of Government?"
"The failure of Fannie Mae and Freddie Mac has cost U.S. taxpayers over $150 billion."
"Excessive Government involvement encouraged borrowers to over-borrow and lenders to over-lend."
"I believe we must significantly reduce the role of Government in housing."