These plans are based on a fundamental error that the government can act like an insurance company and set a correct price for the risk it is taking.
Editor's note · Context
Hensarling critiques government plans for mortgage guarantees as fundamentally flawed.
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Mr. Speaker, I yield 1 minute to the gentleman from Texas (Mr. Williams), the vice chairman of the Financial Services Subcommittee on Monetary Policy and Trade.
Mr. Speaker, I yield 1 minute to the gentleman from Missouri (Mr. Luetkemeyer), the chairman of our Financial Institutions and Consumer Credit Subcommittee.
Mr. Speaker, I yield 2 minutes to the gentleman from Wisconsin (Mr. Duffy), the chairman of our Subcommittee on Housing and Insurance and the author of the real flood reform bill.
Mr. Speaker, I yield myself the balance of my time. Mr. Speaker, deja vu all over again. This House has been here many times before. In fact, we have had 41 reauthorizations of this program, 38 with no reforms. So, a vote for S. 1182 is a…





