The following link is to the July 24, 2008 prepared testimony given before the House Financial Services Committee by Walter J. (John) Williams of ShadowStats.com.  The testimony addressed specific issues outlined by Committee Chairman Barney Frank and was structured so that the oral presentation would run no more than the allotted five minutes.

http://archives.financialservices.house.gov/hearing110/walter_j_williams_testimony072408.pdf

Details of the whole hearing, including a video recording is available here:

http://archives.financialservices.house.gov/hearing110/hr0717082.shtml