I think it is very important that these bills come before the committee and are subject to a hearing.

I think the bill attempts to replicate some of the things that the existing GSEs do right.

And because the focus of the hearing is to look at the U.S. housing market and policy in a global context, I went back and reviewed an analysis by the International Monetary Fund back in April on housing finance issues.

The WMBAA appreciates the bipartisan efforts of Congressmen Scott Garrett, Robert Hurt, Gregory Meeks and Congresswoman Carolyn Maloney.

I believe that the legislative proposals the committee is exploring today are vital steps forward in promoting job creation and economic growth.

I am pleased that we have a bipartisan momentum, it would seem, behind efforts to tap into the potential for American entrepreneurs to build companies and to create jobs.

it is absolutely critical that we address our data and regulatory framework around capital formation.

I do look forward to your testimony in a little while, after we have run through all this, on a number of proposals that will encourage capital formation and job creation all across the country.

I hope my colleagues will support this legislation and that all interested parties will join the committee's efforts to improve investor adviser oversight and enhance investor protection to avoid another Bernie Madoff experience.

I believe in funding government agencies to do their jobs rather than farming out those responsibilities to private entities.

I appreciate the comment from the gentleman from Massachusetts saying that he does not feel that we should be depending upon the regulators so much in this area.