Simon Kohn Stabl News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Panel, "wall street journal" columnist simon kohn stabl and fox business network's stu varney. what we said in the tauz wasn't exactly right. we said that president obama said we righted the howing ship and he hasn't said that. he said it's still a big challenge, housing is still a huge drag on the economy and these numbers bear that out. >> and it's going to be an even worse drag on the economy. we've just had the settlements by the banks of the foreclosure mess so now we've clarified the procedures that must be performed for a foreclosure. this opens up the flood gates to foreclosures. they ...

Up the dead weight? >> it has to have. it has to happen. there's no easy solution to this. the faster it happens, however awful it is, the better. it's like the plaster -- >> megyn: simon! >> it's going to be painful, but it has to have. -- has to happen. we had the credit binge. it is important to remember, there's no financial, no economic recovery that's been reboughs since the end of the second world war that has not involved houseing in a major way. megyn: it just seems to be a summit we cannot get past. >> we have to get past this and when we're through it the banks need to do what they ...