Jeff Merkley actually said...

"Is there any sense to using soft seconds for the balance that is underwater as a way to create loans that could re-enter the marketplace?"

"Yes, that is one way of--one possibility of certainly taking the whole--saying refinance the whole thing regardless of the amount that you are underwater, and that is easier and simpler."

"This is a big problem."

"I think that the plans on compensation for market-making trades is very, very helpful because it creates a huge distinction between one business and the other."