Well, it is a good question, but it was a question that was essentially raised during the committee and answered by Chairman Bernanke at the time. If Chairman Bernanke said, yes, there was with regard to the portfolios held by the GSEs a cross-subsidization of the market and therefore a benefit to the low and moderate income mortgages that they have, then the chairman's argument would be a correct one. But Chairman Bernanke did not say that.
Discussing the implications of Chairman Bernanke's statements on GSE portfolios during a committee meeting.
Share
More from Scott Garrett
The Export-Import Bank transformed the role of Government from a disinterested referee in the economy into a biased actor that uses your taxpayer dollars to tilt the scales in favor of its friends.
It is hard to imagine anything more unfair and un-American than having the Government financially support mega-corporations at the expense of small businesses and American workers.
Do you see a need to benefit the Goldman Sachs CEOs of the world and pay them more than the small, local banks on Main Street where my constituents have to invest their money?
Other voices in this conversation
