The reason we talk about the history is very simple: Every dollar that is lost and is about to be lost was lost because there was a delay in reform. The losses are not resulting from current operations. Secretary Donovan said that before the committee, and no Republican challenged him. We are stuck with losses that happened before we were able to put it into conservatorship by our votes and stop the bleeding.
The speaker addresses the impact of delays in reform on financial losses.
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