Chuck Schumer actually said...

"I can't believe that two full years after the first signs of this crisis were becoming plain for all to see, we are still sitting here talking about how to prevent foreclosures."

"The banks and servicers complain that the Administration rolled out its plan too quickly without consulting them."

"I happen to be one that believes that the idea of principal reduction makes a lot more sense than interest rate reduction."

"The standards by which these loans were allowed to go forward were lax and unrealistic."