mr. barr, mr. demarco, thank you for your public service. mr. rr, i understand that treasury has been collecting comments from all stakeholders on what the government should do to replace fannie and freddie matt, and create a stronger -- to replace fannie mae and freddie mac, and create a stronger system. i have heard one suggestion that concerns me and that is simply to end fannie and freddie and privatize the entire housing finance system. his treasury receiving comments that which it that full- privatization would be a good idea -- that full-privatization would be a good idea? is it a good idea? >> we have received a range of public comments on privatization, and nationalization, on a wide variety of different strategies looking at the housing finance system in the future. as with any topic this complex, there are conflicting views on each of the suggested approaches. the potential downsides of having a system in which there is no government involvement include the lack of standardization, the potential lack of consumer protection, a potential