Ben Bernanke: “We have just finalized new capital requirements that banks have to hold against these assets for sale, these securities…”

Congress did not intend for the Federal regulators to discard the State risk-based capital system in favor of a banking capital regime.

GSE-type organizations are not essential to successful mortgage financing. Indeed, many other industrial countries without GSEs have achieved homeownership rates comparable to that of the United States. One device that has been widely used…

The crisis was an enormous waste of resources, and unsafe practices by large financial institutions pose a risk not just to themselves but to the rest of society.

Opening schools is more important.