What is the proper role for the government in the financial system, and in housing finance, in particular?

The current U.S. housing bust has been described as the worst since the Great Depression, butthe financial and economic collapse in 1933 is virtually impossible for people today to even imagine.

Testimony on the prospect for long term growth and economic well being through innovation.

The American housing finance system is unique in the world for the predominant role played by the housing government-sponsored enterprises (GSEs).