What is your judgment today on the financial condition of FHA? For the record here and before this Committee.
Isn't that a dangerous level?
If we don't have the information, we don't want to be shocked like we have been before.
You have got to have data on the percentage of loans, say, in 2000, 2005 out there, how many foreclosures, how many unde...
I have got to ask, Mr. Scire, are you skeptical, real skeptical, doubtful that FHA is going to get toward that 2 percent...
A lot of us are concerned about FHA, and you know why.
Where were the--and are those same people still in Enforcement?
There is data there if you can put it all together, and it looks like with all of the software that we have today, that ...
Every aspect of the program must undergo significant revisions.
The bill immediately eliminated subsidies on vacation homes, businesses, and severe repetitive loss properties.
Without the mapping data, the program will always be suspect, to say the least.
Mapping is the key to an overall sound actuarial program.
Well, any way you look at it, this is a colossal failure of the SEC.
I think a good point he made, that unlike the Madoff issue, here you actually had examiners.
This just looks like the SEC failed the investor, not once, not twice, but four times, big time.
Where was the leadership of the Enforcement Division not just in Fort Worth but at the SEC here?
Were they counting beans? In other words, they wanted to count how many cases they had, they had solved...
So they failed big time in protecting the investor in both the Madoff and in the current Stanford case.
