Chuck Schumer actually said...

Eliminating the Government guarantee risks the flight of over $6 trillion dollars from the U.S. housing finance market.

Schumer highlights the economic risk of losing trillions in housing finance without government support.

09/12/2011

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So if we didn't guarantee as many mortgages, there would be less securitization.

This is too important, it is too complex to be subject to the vagaries of political litmus testing.

Just because an institution is small doesn't mean it is not risky.

I remain convinced that the steps the government took to save the financial system were absolutely necessary.