Mr. Speaker, I yield 2 minutes to the gentleman from North Carolina (Mr. Budd), a hardworking member of the Financial Services Committee.

Mr. Speaker, I thank the gentleman for his kind words, and far more importantly, I thank him for his leadership. He is truly one of the workhorses for economic growth in the United States Congress. Again, I take great solace, as I will…

As we saw in the last crisis, it is the average hardworking Americans that will suffer the consequences if Washington deregulates Wall Street mega banks again.

I believe when that inquiry is finished, it will result in the same written report that we have issued 103 times, previously.

But it is this Committee's responsibility to conduct oversight over FHFA and that includes your conduct as well.

Thank you, Ms. Grimes, for your testimony. We know it is not always easy to be in this chair and discuss these types of charges.

reduce taxpayers' risk, codify into law an explicit government guarantee, and increase market competition.

Fannie Mae and Freddie Mac were more than mere bystanders in the 2008 financial crisis. They were in fact at the epicenter of that crisis.

If we ignore that basic fact, we are willfully disregarding history, and we are bound to repeat history.

Putting layers of diversified private capital in a first loss position will help ensure more accurate pricing of risk.

Mr. Speaker, I yield the gentleman from New Jersey an additional 30 seconds. Mr. MacARTHUR. Mr. Speaker, we cannot pull the rug out from underneath the people depending on this program. I will continue to work with the committee, with our…