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For years, critics of Fannie Mae have warned that it does not give them enough information to judge its risks.

Fixing Fannie Mae and Freddie Mac in isolation, without looking at the big picture, would be short-sighted.

I had loans in law school.

I made my money in an honest way. And I have declared it all. By co-founding Infosys along with Mr. Murthy and others, I earned financially.

Advice? Look at your pay statements.

I ran a 'loan modification machine.'

Fannie Mae has never publicly disclosed how much money it could lose if interest rates rose 1.5 percentage points in a very short period of time.

Well, Mark, I led the charge for five or six years to get reforms for Fannie Mae and Freddie Mac. I was chairman of an organization called 'FM Policy Focus.' What we were saying was, if there was blip in the housing market, Fannie and Freddie would destabilize the greatest economy in the world.