I have to respond to what I just heard because it simply isn't true. The notion that the government directed people to make these loans is not true. I don't understand what directive the gentleman is referring to. I would be glad to yield to him. What policy of the Federal Government, what law directed people to make loans of 120 percent loan-to-value? I yield to the gentleman.
The speaker is addressing claims about government involvement in directing loan practices.
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