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...
A plan for unemployment is a plan for housing.
In my view, we need to do even more to fix the housing market, get the broader economy moving again, and create jobs.
And what would you want to see in that respect, the number of individual properties that could be----
Thank you very much.
we get this housing market moving again.
that is going to have an impact on the market.
The Chair has been extremely liberal here