You don't get involved in $3 billion authorizations?
But you said you first became aware of fraud in 2008 and this shows significant fraud in 2007.
These are very serious allegations. These are high fraud rates.
Excuse me for interrupting because we do not have that much time, but I just wanted to go into the numbers.
He is laying out the risks as he sees them in the pool.
I think you would agree, contributed to the reduction in the criteria--the loosening of the criteria for these products.
Now, in your statement, Mr. Killinger, you described how the Office of Thrift Supervision was on site at WaMu and approv...
These are emails, one after another, delinquency, delinquency, delinquency, we have got to move.
Not effective. That is what you were told.
Our Home Loan group should complete its repositioning within the next 12 months.
You are working for a bank which according to a 25-loans test had almost half reflecting a sale after an investigation h...
You thought they were going to be removed?
Thank you. Senator Kaufman.
If you had seen those emails--you have heard them. I have read them.
What you heard today was these loans are delinquent.
You changed your strategy.
Yes.
We went and purchased these loans back.
