So since there is no regulation on the books for these kinds of risky practices, how are we going to get them on the books?
We hope that unity that you heard here, and the American people will hopefully hear from this committee and this Congress, will help you in ...
It's also important that Iran hear a very strong, unified message about Congress standing behind strong measures.
I support very much what you said because I think it's critical that Iran understand the seriousness of our purpose and the unity behind a s...
But you said you first became aware of fraud in 2008 and this shows significant fraud in 2007.
LBMC [Long Beach] experienced a dramatic increase in EPDs [early payment defaults] during the third quarter of 2005.
And did it find that Long Beach had weak controls over the loan approval process?
Extreme greed was the driving force, and it will happen again unless we change the rules.
And the push to increase loan volume made things worse?
Long Beach represents a real problem for WaMu.
And then the risk, therefore, would be passed on to the purchasers. Is that correct?