On the recordJuly 10, 2013
I know our time is about up, but I want to close and then I will turn it back over to the final comments of my colleague, the Senator from Tennessee. I want to say to my colleagues and their staff and those interested in this issue that this was the one piece of unfinished business in our financial system reform. While there are some today who say: Well, things have gotten better, we should allow the status quo to continue-- well, I don't think, from the administration on down, there is anyone who thinks the status quo simply continuing--with private sector gain and public sector losses--is the right model. We ought to take the lessons we have learned over the last 5 years-- some of the very good work in terms of the standardization that is being done at the FHA right now--and set up a new model. As the Senator from Tennessee said, make sure we get that taxpayer protection.…
