mr. hackett and mr. phillips to rome and to italy. can just see it in this hearing and we thank you both for your willingness to serve our country. we thank you. i think we're sending america's finette to italy with the pair of you, thank you. and, so we thank everybody for your attention to this hearing and for the other members, questions for the record must be filed by the close of business today. if any committee member or their staff wishes to pose questions to the witnesses, and we request that each of the members respond promptly to that request. so with that, we wish you all godspeed on your mission and this hearing is adjourned. >> thank you [inaudible conversations] >> you're watching c-span2, with politics and public affairs, weekdays, featuring live coverage of the u.s. senate. on weeknights watch key public policy events and every weekend the latest non-fiction authors and books on booktv. you can see past programs and get our schedules at our websites. you can join in the conversation on social media sets. . . >> i would

mr. hackett proposed are simply false., he made the sim shun that mortgages in pls can not be modified. if you look at the data from corelogic, it indicates over 46% of those loans who were above water, which is what mrp, the group they're working with out in richmond, california is targeting. over 45% have been modified. melissa: the arguement he was making, we're talking about robert hockket, from colombia, one of the guys who thought of this idea going in and seizing them by eminent domain from the banks and writing them down essentially, keeping people in their house and reselling them. his point was that they have been sold and securitized and resold again and packaged and so, you know, it is just impossible to go in and do a modification and you're saying we see evidence of that all the time. >> we see, we see evidence of that, melissa, all the time. in addition the economy is starting to recover. many communities out in california have seen a, in excess of 20% return in the real estate market. and as a result if you