The Committee believes the Treasury Department'sestablishment of conservatorship for the GSEs must be the beginning and not the end of the reform process. Liquidationoffers the most promising future for the enterprises; it allows taxpayers to benefit from whatever value remains in the companies, but minimizes the risk of continuing government involvement with their activities.

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Statement No. 251For Information Contact:Paul M. Horvitz713-780-3771Peter J. Wallison202-862-5864

The subprime mortgage crisis has brought to light several policy issues associated...

Testimony before the House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises on issues surrounding the Milberg Weiss indictment and H.R. 5491.

Testimony before the House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises regarding American ingenuity and global competitiveness in the 21st century.

The Securities and Exchange Commission's proposed Regulation NMS fails to address the basic question of market structure and should be withdrawn.

James K. Glassman's October 16, 2003, testimony before the House Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises.

Mandatory expensing may negatively affect--rather than restore--investor confidence,and the economy will be placed seriously at risk.

The costs of and risks created by Fannie and Freddie overwhelmingly outweigh any benefits they provide that I believe they should be fundamentally changed.