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history. that s what this reform is all about. [applause] this legislation will also lower costs for families and for businesses and for the federal government, reducing our deficit by over $1 trillion in the next two decades. it is paid for. it is fiscally responsible and help lift a decades long drag on our economy. that s what you all made happen. [applause] . . . you know, there are there are few tougher jobs in politics or government then leading one of our legislative chambers. there are men and women who come from different places and face different pressures, reach different conclusions about the same thing and field deeply concerned about different things. by necessity, leaders have to speak to those different concerns. it is not always tidy. it is not always easy. perhaps the greatest and most of all challenges coupled with these is to advance the dreams of all people. we are blessed by leaders in each chamber who do their jobs for well but who have never los
i note it was about 18 months ago that the president was elected. i think it was 13 months ago to double taxpayer liability for the g.s.e. s. nine months ago not to double liability? under the original preferred stock agreements? under the law that the congress passed, you gave my predecessor unlimited authority to make sure fanny and freddie could meet their obligations. at this point, they made sure they had whatever capital was necessary to meet those obligations. [captions copyright national cable satellite corp. 2009] [captioning performed by the national captioning institute] credit card companies, community banks, hedge funds, finance companies, payday lenders, pawn shops, auto companies, but still no plan for the g.s.e. s except seemingly unlimbed taxpayer exposure. so one member s opinion, mr. secretary, with respect to the timing, i just think that the timing is unacceptable. but let s talk abouted taxpayer exposure. clearly, you are familiar with the numb