Pat McHenry

The real question that the average American citizen has is what is the Federal Reserve doing.

The longer we wait, the larger the write-downs will be, but that is being stymied...

The truth is that the mission of government matters, but reckless decisions have made it harder to fulfill that mission.

Either way, Europe must reform itself.

There can be no question that a healthy European economy is vital to the national interest of the United States and the American taxpayer.

We have a reliable partner and, B, whether the security on the ground is adequate so that the work can actually be done, and both of those are huge impediments.

But when we are talking about Federal policy, subsidizing a $500,000 house is very different than helping somebody who is trying to get--

The key thing to understand was that FHA and our fellow housing programs were intended for the least among us, not the greatest among us.

Did you see the private sector filling in where FHA could no longer serve?

I think it was bad policy to raise the loan limits back up.

I certainly appreciate that and I appreciate your willingness to answer questions today.

So if we just left this as it is currently structured, we could be back here having this same hearing in 5 years.

The President has complained about executive compensation packages, but two large entities where he could have a larger and direct say, he tends to make speeches rather than actual consultation.

I appreciate your willingness to do this.

Well, the question is not----

And are mortgage modifications a part of that scorecard?

If you listened to the gentleman--I have never seen the scorecard.

So that mission piece, what percentage of your deferred compensation comes from that, your bonus?

But is one of the broader sections mortgage modifications?

So it is more of a feeling, right?

Who says there is just politics on the Hill?

There has been a hew and cry from the President in particular about executive compensation

Will you commit full compliance with all requests of information from the Office of Inspector General?

You are not answering my question, Mr. Williams. What percentage of your compensation is tied to mortgage modifications?

Would you be willing to submit that for the record once you can gather the documents?