Frank Lautenberg actually said...

"In these tough times, we need to make sure FHA has the funding and staff to do its job."

"So FHA essentially writes off the loss from what may have been a subprime loan, and that's FHA's responsibility, is it not?"

"The agency has become a life raft in a sea of debt for current homeowners looking to refinance into a fixed-rate mortgage."

"The regulations were there to prevent that from happening before the crisis began developing?"