Jack Reed actually said...

"The foreclosure issue is not only a drag on the economy, but... it is a source of exasperation, anxiety, anger, frustration, and much more for families trying to deal with it."

"We have to think creatively."

"But it strikes me, stepping back, that because of national policies, Federal Reserve policies, we have lowered the effective interest rates for banks dramatically."

"I mean, one of the things that we have been trying to do is to incentivize, one way to describe it, a much more proactive, much more focused can-do attitude on the service of the banks to get it done."