Mr. Secretary, will those financial institutions that have already agreed to implement foreclosure mitigation plans be eligible for subsidie...
Along these lines, it is my understanding of the legal--you have got a first mortgage, then you have got a second mortgage.
I just want to tell the Secretary again we welcome him here. We look forward to working with you.
It has to be done right, though. You will have some lawsuits.
We know that.
Mr. Chairman, if I could ask one more question on lender payments.
Unfortunately, I believe the proposal is long on good intentions and short on providing a credible solution for our ailing housing market.
I believe our immediate attention should be to help those most in need who can be helped and are willing to help themselves.
I believe, however, that it does so at considerable cost to the taxpayer and mainly serves as a further bailout to the very banks that helpe...
I have been an advocate for the center to try to package more of that training and take it out in increments.
I am very opposed to that. This has become a well-organized Department.
I still think it is too few. I think we should be over 20,000, but we hit that goal.
this begs the question of nationalization.
Wouldn't we be better off to close some of those banks rather than continue to prop them up and let the American people continue to believe-...
Propping up banks that are dead, so to speak?
Dr. Volcker...thought some institutions, some banks were too big to exist.
The Federal Reserve's balance sheet has more than doubled in size and presently stands at about $2 trillion.
The Federal Reserve will continue to run a virtual alphabet soup of liquidity facilities through April 30, 2009, at the least.
