09/20/2011
https://congress.gov...
"First of all, I reject the notion that we, as elected officials, should be blaming the Fed, oh, it is the Fed's fault. No, it is our fault if we don't step up."
"Is it theoretically possible to have a bubble on the Fed's balance sheet by acquiring so much U.S. sovereign paper, so much mortgage backed, MBS?"
"Our models used to always say that we would not even break even until we hit 200 houses in a pool."
"But if you have literally half your inventory, and in my understanding, it's dramatically more than half your REO inventory that isn't even being marketed, isn't that literally the inventory you shoul..."