Bernanke, Ben

I would note one -- two things. First, as a minor point, that one of the things that this program being discussed could do would be to purchase second liens, which have proved to be a very significant barrier to the resolution of -- of foreclosures.

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Well, second liens are selling for a few cents on the dollar. I wouldn't expect them to be worth much more than that.  But I was only pointing out that -- I know this from Governor Duke, who's on the Hope for Homeowners board, that the problem with second liens is a big issue right now, because it prevents renegotiations of the first mortgage.  So I was just saying that a side effect, if we do buy them at market value, a few cents on the dollar, would be to help free up this -- this other issue.

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