Jeff Merkley actually said...

"we were in the middle of a tremendous economic collapse"

"Are you willing to aggressively pursue a model which would be fundamentally fair to homeowners?"

"I am not satisfied yet that homeowners have gotten a fair shake when we have been through this time and time again."

"I am not quite persuaded of that, but thank you for pursuing it, because a lot of people would be more fairly treated with an appropriate credit model."