This hearing will come to order. Thank you, mr. Secretary, for attending today. This is secretary mnuchins first hearing since being sworn in in february and we look forward to our discussion. Many of this committees priorities fall within the jurisdiction of the Treasury Department, including housing financial reform and development of policies to encourage a healthier economy. We look forward to working with you and your staff on these priorities and improving the lives of americans. Housing finance reform remains the most significant piece of Unfinished Business following the crisis and it is important to build bipartisan support far ath forward. Last week, we received testimony from director nell watt. The hearing reinforced why conservatorship is unsustainable, namely g. S. E. s having zero capital, tax pay ornse the hook for losses an the government taking all risks. A number of groups released proposal in recent months, including the milkin institute, several writing jointly for
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