Chuck Schumer actually said...

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

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

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

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 talki...