Jack Reed actually said...

"And if the economy gets worse for reasons not directly related to this, such as the sovereign debt crisis overseas, etc., then the foreclosure problem we face today, you know, the bottom keeps slippin..."

"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."

"It gives Senator Reed and me real leverage in Washington to be able to do this."

"Thank you, Your Honor."