Reason Foundation's Anthony Randazzo Tells Congress to Ditch GSEs Already; Special Appearance by Rep. Barney Frank

Reason Foundation's Anthony Randazzo testified before the House Committee on Financial Services at an April 14, 2010 hearing to discuss reforming the regulatory framework for housing finance.

Randazzo argued that government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac played a significant role in creating the housing bubble, and that current U.S. policy is perpetuating a cycle of boom-and-bust in the housing market. He also argued that before there can be a genuine, sustainable recovery, Congress will have to eliminate the GSEs and open more of the mortgage market to the private sector.

Approximately 12 minutes. Go to Reason.tv for downloadable versions of this and all other Reason.tv vids.

Comments

[.]

(crickets)

[that guy]

yea, that's usually what I hear after I listen to Barney Frank.

[.]

I hear Homer Simpson's voice saying, "Urge to kill rising..."

[Tman]

Well done Mr. Randazzo. I like the way you held your ground on the "hypothetical" medicare comparison.

This video did not make me hate these troglodyte congressmen any less however. They all asked the same thing -"this will be really hard to remove GSE's, how hard will it be?" all the while ignoring the fact that FM&FM; are the main reason we're in the mess to begin with.

It's like having a metal spike stuck in your head and arguing whether you should take it out now or see if it doesn't hurt as bad in, oh, say about ten years.

[R C Dean]

I wish more comments news reports contained the words "troglodyte Congressman", "metal spike", and "stuck in head".

[P Brooks]

He also argued that before there can be a genuine, sustainable recovery, Congress will have to eliminate the GSEs and open more of the mortgage market to the private sector.

[P Brooks]

Fuck you, squirrels.

[P Brooks]

Randazzo was treated to wild applause and raucous cheering, right?

[Crickets]

Wrong.

[stillmon]

terrible sound.

[heller]

10:52