Bob Corker: “We spend a year and a half working on financial regulation in this body, and there are a lot of fancy things we are…”

“We spend a year and a half working on financial regulation in this body, and there are a lot of fancy things we are looking at that certainly need to be looked at, no question. It is amazing that after all this time, we are still not dealing with the core issue. It is hard for me to imagine that anybody in this body would think that a 5-percent downpayment on a loan would be something that is extraordinary. I have had a couple of folks on the other side of the aisle today come up and say: Look, this makes common sense. I am going to support this. It is amazing to me that we are not focusing on those very things that we think are the core issues. We had a chance a minute ago to deal with Fannie Mae and Freddie Mac, and, of course, we didn't. I know it is a complex issue, but I felt the McCain amendment gave us a timeframe within which we could deal with Fannie Mae and Freddie Mac. We didn't. We decided to have another study.”