I believe this legislation is vital to maintaining the health and stability of our financial systems.
Editor's note · Context
Kanjorski emphasizes the importance of legislation for financial system stability.
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If we are going to let entities get so big with so many counterparties, then we have to have a regulator.
Ultimately, we need to see this conservatorship have a time certain to end, and transition these Enterprises back to the private market.
You think if we have a private institution the size of $5.6 trillion, that there is not an implicit statement that the United States Government has to come in and rescue it when it fails or else it brings the entire system down?
I sympathize with the constituents of my friend from New York, Mr. Ackerman. When you hear some of the stories from the testimony of the Inspector General, that if only somebody turned around when they were examining the Madoff operation…





