Jack Reed actually said...

"I think we have got to think harder on some of these issues."

"I think it is critically important that from an investor's standpoint, if a servicer is not following their responsibilities under the agreement, that there is some mechanism to remove them."

"But one of the premises is 10-percent private capital up front. The question is: Is that sufficient? Or is it too much?"

"There is another aspect, too, as you alluded to in your responses, that there are times when the market can provide adequate capital."