Can you talk a little bit about the impact that a narrow qualified residential mortgage definition could have on excluding first-time homebuyers from purchasing a home?

It is a matter of getting it right, though, and not... going so fast that we cut off our nose to spite our face.

I am proud to be a part of a committee that is having this dialogue.

I agree with Ranking Member Frank, and that will be his birthday present, that the interest deduction should not go away.

Many of those in the industry have spoken about the meltdown and the housing bust.

I am a little perplexed by the overreaching of Dodd-Frank, because a lot of this could have been avoided simply by enforcing rules we have had on the books for years.

But doesn't that beg the question, then, that it really is not a complete lack of regulation but a lack of enforcement and proper oversight?

I have to say that I am disappointed. I am disappointed that the Commission was really unable to put together a unified report to accurately assess the root cause of the financial crisis.

this is the exact reason why the general public doesn't trust the government and doesn't believe that we ever have their interest at heart.

Everyone here is frustrated, and I think you are frustrated as well, because the answer to almost every question is, we have to play the hand that we are now dealt.

the taxpayer bears the second burden.