Patty Murray actually said...

"This morning we welcome Commissioner Stevens to his first appearance before our subcommittee as we examine the Federal Housing Administration and its role in the housing market."

"The consequences of these risky behaviors have rippled through the national and global economies with mounting foreclosures, a crippled housing market, and a financial sector in turmoil."

"Fulfilling the same role as it did when it was created during the Great Depression, the FHA has stepped forward to help provide liquidity and restore stability to the housing market."

"I think we need a very thoughtful approach as we do this."