And it is a boondoggle of a mess, and I think there is some--and the thing that I cannot understand is where the misalignment of interest is here, because we have millions of people in this country that are underwater in their mortgages.

Absolutely nothing to show for it.

That sounds to me like a big step in the right direction, and I am wondering how you are planning on sharing the results with the public.

What are the rules of the road? We need to understand that.

I would appreciate that. That would be tremendous.

Thank you for having this hearing, and thanks to all of you for coming together.

I think Dodd-Frank requires a regular report from FSOC about financial stability and risks to financial stability.

Had what you are describing been in place precrisis, what are the things that you think--the macroeconomic trends that you think you might have picked up that were not picked up by the Fed?

That is why I introduced legislation, along with my colleague from across the Hudson River, Senator Menendez, called the FHA Multifamily Loan Limit Adjustment Act of 2010.

Do you have a sense of the order of magnitude--was it 2006 through 2008? Is that the period that you are talking about?

The interest, I think, in this Committee about being able to see the stress testing you are doing of the models I think springs from a sense among some of us that the oversight here was not so good either.