Robert Menendez actually said...

Right now, who is the biggest holder of this liability? It is all of us as Federal taxpayers through the GSEs and the FHA?

I think the way you have to deal with negative equity is by doing principal reductions.

we do not need more piling on. We need to incentivize the market, not de-incentivize it.

If we do not take an aggressive approach and force people to say, let us align the incentives...