Well, even if we write it into the law, they don't do it, because in 1994, we wrote it into the law that they monitor all mortgages within the banking system that they control and within the mortgage brokers.
Senator Bunning criticizes the Federal Reserve's failure to enforce mortgage regulations.
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Five weeks is a pretty good time to be able to read the report and, according to the Inspector General, redact those things that should not be made public.
Are the Fed and the GSEs going to aggressively pursue pull-back of mortgages to the originators and investment banks to reduce taxpayer losses?
Let me get one thing straight. You are the Inspector General for the SEC, correct?
It seems impossible and outrageous that it took 8 years from the time that possible fraud was identified before the SEC spent any energy on enforcing the law.