Robert Menendez actually said...

"The HARP reforms implemented last fall removed significant frictions in the program, and early reports indicate increasing numbers of underwater borrowers are now benefiting from the program."

"Removing barriers to refinancing will help the effectiveness of monetary policy, allowing the Federal Reserve to more quickly reduce its efforts in quantitative easing."

"It is important to remember that there was widespread steering during this housing bubble of overpriced credit to African American and Hispanic households."

"Thank you very much. Thank you all for your testimony."