Jim Bunning: “The administration's plan will rely on voluntary participation. Is that correct?”

Are the Fed and the GSEs going to aggressively pursue pull-back of mortgages to the originators and investment banks to reduce taxpayer losses?

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.

You need a change in the law then.

This is a stunning case, knowing that the SEC has changed hands and things, that they would not jump down this after the Madoff--Bernie--after his case hit the papers.