Jack Reed actually said...

But you are the conservator. You are representing the Federal Government in everything that they do or fail to do.

trend of deference to the Enterprises, including a reliance on the determination of the Enterprises without independently testing and valida...

Can you assure us that you believe there are no material misstatements or material omissions in those statements?

It is not perfect. Seldom do we do perfect things here. But it is progress and we have not seen a lot of progress over the last few years.