02/28/2012
https://www.congress.gov...
"I have been sitting here trying to really figure out a good analogy of how this happened..."
"One of the things that doesn't make a lot of sense to me is why these synthetic--and I know you have got an answer for it--but why these synthetic instruments came about when there is nothing in them."
"We are like we are speaking a different language here, and that is not being critical of you..."
"So the housing decline was based on housing prices around the middle to end of 2006."