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

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

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

the existing system benefits the largest servicers, it benefits investors, and it harms homeowners and taxpayers

I have a real concern. Years ago, in this Committee, before we had the housing foreclosure crisis, we had members of the previous Administration, and I said, we are on the verge of a tsunami of foreclosures.

I think that is a great idea.

the discussion draft from myself and Senator Boxer is in the best interest of the GSEs

Allow millions of Americans to refinance their GSE mortgages at low current rates.

there is a reason the private sector does that. It does it to not lose money, right, Dr. Sanders?

So you clearly had between poor capitalization, liquidity crisis, highly leveraged, and inferior technology, a structural problem at MF Global.

Isn't there director liability here now?