What you heard today was these loans are delinquent.
If you had seen those emails--you have heard them. I have read them.
Thank you. Senator Kaufman.
You thought they were going to be removed?
You are working for a bank which according to a 25-loans test had almost half reflecting a sale after an investigation h...
the events of 2007 were covered in the 2008 report that we are looking at.
Our Home Loan group should complete its repositioning within the next 12 months.
Not effective. That is what you were told.
These are emails, one after another, delinquency, delinquency, delinquency, we have got to move.
Now, in your statement, Mr. Killinger, you described how the Office of Thrift Supervision was on site at WaMu and approv...
I think you would agree, contributed to the reduction in the criteria--the loosening of the criteria for these products.
He is laying out the risks as he sees them in the pool.
Excuse me for interrupting because we do not have that much time, but I just wanted to go into the numbers.
I was deeply concerned to the point where there was no question that this had to be escalated up to the Audit Committee.
Had there been a surge of loans that had to be repurchased as well?
These are very serious allegations. These are high fraud rates.
But you said you first became aware of fraud in 2008 and this shows significant fraud in 2007.
You don't get involved in $3 billion authorizations?
