whatever they are, i've got six of them accessibility, affordability,alty, responsiveness, innovation, choices. whatever your principles are, i would suggest that none of those principles are improved by the intervention and the increased involvement of the federal government. not one. accessibility. already in any of the programs that the federal government has a hand in, accessibility is decreasing, including in medicare. affordability, all of the programs have overrun their cost estimates by sometimes 100 times, 100 times, so there's no way that the federal government can keep a hand on the cost of anything. quality, i would suggest respectfully that the quality of health care provided when the federal government gets involved gets worse, not better. responsiveness and innovation? federal government, you make the decision. i'm not sure that the federal government has anything to do with responsiveness and innovation in anything that it does. haven't seen it. and choice is clearly the federal government makes choices at every single turn. there are positive collusions that we will p

i wonder if you can give us some insights on the role that repayment penl alties and how w ought to addresshose in the future? >> well, i think there's a need to re-examine the financing of home ownership in the country. it's obvious that some of these loan structures were totally inappropriate for the people to whom they were sold. and i think that needs to be looked at very carefully. i think it should be a simpler process for borrowing, the terms of the borrowing should be highly transparent. and i think that attention is going to be given to that as well as the government looks at re-regulation of the financial industry. you know, a home loan -- a home is the biggest investment most people ever make. and that should be taken into account. if we want to promote home ownership and promote wealth creation in the united states among the public, i think there have to be much more attention given to the structures of those loans. >> how did those practices contribute to systemic risk? >> i think we've seen inappr inappropriate lending practices, not full transparency in some cases. i think th