Only by ensuring mortgage quality and fostering the accumulation of adequate capital behind housing risk can a robust housing investment market be created without government guarantees.

We need to start planning now how to put the recent government balance sheet expansion into reverse.

Testimonyregarding thesubprime mortgage crisis to the U.S. House of Representatives.

Thetwenty-firstcentury has seen the housing cycle bubble and bust. Historical precedent says it will happen again.

Greenspan will have to be called to account for regulatory failings and his interest rate policy.

Most Wall Street analysts still fail to recognize the gravity of the U.S. housing market situation.

SenatorSchumer wants to loose the trial lawyers and the regulators on the mortgage market. That's the surest way to turn our housing weakness to bust.

The author recommends structural and regulatory requirements to ensure that competition is enhanced with regulation, with improvement of the American mortgage-finance system.