mr. chairman , i yield myself the balance of my time . 
i have a great deal of respect for the proponent of this amendment . 
i know he is a very serious and thoughtful member ; but i think this amendment goes overboard from the standpoint of during the 6 years of consideration of this bill , we balanced out very well the structure to create a regulator that would be similar to the bank regulators . 
the powers involved in this bill allow for the regulator to control safety and soundness and to have direction of the portfolio when systemic risk would occur in these particular organizations . 
this amendment goes far beyond that and allows the latitude to the regulator to get involved whenever there are capital-markets instability , not only housing instability , but capital markets or the financial system instability . 
what it means is we will always be subject to the whim and fancy of a regulator to require these gses to sell assets or sell liabilities at the whim of the regulator 's thought that there may be some need to regulate systemic risk , when in fact these organizations suffer no systemic risk . 
i join with the gentleman from virginia ( mr. tom davis ) when he analyzes out that what we would be doing is arming a regulator who may not always be the most thoughtful individual in the world to take actions against our housing industry and our housing gses at the most inappropriate time and moment , causing destabilization to the housing market and , in effect , causing further destabilization and systemic risk to the financial markets . 
i urge my colleagues on both sides of the aisle to vote `` no '' on this amendment . 
mr. chairman , i yield back the balance of my time . 
