Chuck Schumer actually said...

"I really would say that your program is going to have a significant and deep effect on housing markets, improving them, and that can reverberate throughout the whole economy."

"When a country, year after year, consumes more than it produces, imports more than it exports, borrows more than it saves, the chickens always come home to roost."

"The problem of people getting financing is just everywhere."

"So this means that right now, two-thirds of the servicers are likely to go along with this plan for those mortgages that meet the guidelines and the guidance that you have put out, is that right?"