Ben Bernanke actually said...

GSE-type organizations are not essential to successful mortgage financing. Indeed, many other industrial countries without GSEs have achieve...

It is also important, of course, for community banks to be well-capitalized so that they can continue to lend during difficult periods.

It would be very concerning for financial markets and, I think, for the general public if the United States didn't pay its bills.

I agree with your analysis of GSEs.