Jeb Hensarling: “I yield myself 30 seconds to say I am fascinated to hear the specter of discrimination continually waved by the other…”

“I yield myself 30 seconds to say I am fascinated to hear the specter of discrimination continually waved by the other side, yet the Federal Reserve says, when the qualified mortgage rule is fully implemented, fully one-third of all Blacks and Hispanics won't be able to qualify for a mortgage. Yet we hear silence from the other side. The reason we had the meltdown is because so many of my friends on the other side of the aisle wanted to roll the dice on so-called affordable housing goals of Fannie and Freddie. It turned out to be the largest bailout in American history. If people are going to make bad loans, here is an idea: Let's not bail them out with taxpayers' money, but give everybody a fair shot at home ownership. That means, if a bank makes the loan, they hold it on their books. Let them keep it. Let it be a qualified mortgage. I yield 5 minutes to the gentleman from Kentucky (Mr. Barr), the sponsor of the bill.”