And what would you want to see in that respect, the number of individual properties that could be----
Bob Menendez
The Public Record
Robert Menendez is a prominent Democratic politician currently serving as a member of the United States Senate, representing New Jersey. He was first elected to the Senate in 2006 and has since been re-elected multiple times. Menendez has played a significant role in various policy areas, including foreign relations, immigration reform, and healthcare. He has served on several Senate committees, including the Senate Foreign Relations Committee, where he has been an advocate for human rights and democracy abroad.
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.
In my view, we need to do even more to fix the housing market, get the broader economy moving again, and create jobs.
we do not need more piling on. We need to incentivize the market, not de-incentivize it.
I also think that when you say 20 percent, it seems to me that the broader criteria of determining the lending criteria is important.
I appreciate moral hazards as much as anyone else. I think there are moral issues into how people were led into mortgage products they should have never been into.
If we do not take an aggressive approach and force people to say, let us align the incentives...





