mr. salmon. please just come forward your name has been called. it is not apt to be in the same order. >> hello, supervisors. i am glad that you're having this hearing. my name is sheila. i have lived on the great highway since 1991. this is part of what i wrote in my letter was first put out about the problem. in march of this year, i ordered a new cell phone. everything went through. then the next day i received an e-mail telling me that my order was cancelled. there was no specific reason given, so i call. it took me an hour-and-a-half of being on hold and talking to five different people before i was given a reason my order was cancelled. and because of security reasons, nobody would actually tell me the reason. the reason was, finally someone give me the secret, that i had the wrong street address. so the person who originally took that order did not say that. eventually i had to go down to the office of the company and get my new cell phone, because i cannot do it over the phone because i cannot give the correct address. if i had known to sa

mr. sherman. today's hearing, as you said, like salmon the pros and cons of the federal government continuing basically the sense of that is a 30 year fixed-rate mortgage. during the great depression, the federal government established the direct and indirect subsidies for the 30-year fixed-rate mortgage. for many americans the 30-year fixed-rate mortgage has made ownership possible, yet the failure of fannie and freddie and the 169 billion-dollar bailout of the institutions demonstrate that the federal government support for the 30 year mortgage comes with a cost to the according leave the committee ever decides to undertake the housing finance reforms it would need to determine whether the benefits of the government support, with authority year fixed-rate mortgage of raise the cost. in addition if it decides to continue to subsidize the 30-year fixed-rate mortgage, the committee will need to find a way to protect taxpayers from having to pay for bailouts in the future. today's hearing should provide some insight into how the federal government supports the 30-year fixed-rate mortgage impact of consum