Access to mortgage credit is very tight.

I think that is really valuable, and offering a lot of approaches that Fannie and Freddie could be using.

I just think it is very important that the First Look Program actually work to help keep homeowners in homes and to help stabilize communities, not, as you say, a box to be checked off before the property gets shipped over to investors.

So, I understand that you believe that you have made progress in implementing the recommendations from the Beim report.

this is part of the reason we need a 21st century Glass-Steagall law.

We need to put a lock on the revolving door.

It helps put our system at greater risk and it increases the likelihood of regulatory capture all at the same time.

We cannot build a strong, reliable bank oversight system so long as the revolving door keeps putting bank executives in the role of temporary cops.

I am very glad that you commissioned the Beim report in 2009, and you have discussed how seriously you took that report.

Action is about shutting down shady transactions that could imperil the safety and soundness of the bank.

I do not understand why this would not be a priority.