"This $50 billion is gone once it is spent. I mean, it is not invested in something the taxpayers will get back."
"I know my time is up, but it is further digging a hole for the GSEs to play the role they are playing in these mortgage modifications, isn't that correct?"
"I am under no illusion you are going to solve it. I think your efforts will improve."
"this is an example of all examples of this Administration being Big Brother, and I think the American people are recoiling from this."
"You are basically saying that these entities, unless they offer other standard products, would not be able to be in business."
"I think you may be the overall architect, if you will, of much of what has been put forth as it relates to regulatory changes."
"I think the regulators--and we have had them into our office numbers of times--I think they are helping, as they always do, create self-fulfilling prophecy."
"Is there a way for the Federal Government to be involved in hedging that risk for you and yet not taking ownership through these GSEs of the portfolios themselves?"
"So the regionals upstream from you that typically would have provided liquidity... those folks... that has gone away for you?"
"So in seeking a solution to the Fannie-Freddie dilemma that all of us find ourselves in, we need to figure out a way to deal still, though, with creating liquidity for you to keep this constant access..."
"We have not had a hearing here on Fannie and Freddie in a year."