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Especially on the 2000 foreclosure. but the way this thing is set up, it has built-in leverage. that $20 billion you mentioned, it is up to $40 billion. i'm not saying that -- let me -- one final point. i used to be a member of if housing team back there in the white house days. one other point. here's what's key about this thing. this is the first housing policy to come across the policy transom from the perspective of the banks and lenders. they have to do the write-downs. the reason why so many of these programs have been underwhelm sing because they have been voluntary from the perspective...

The 99% and the 1%. foreclosures for some reason -- the banks are very powerful. it cannot seem to gain tracks. i talk about it on the show. i've talked about it when i have hosted other shows. it just seems to fall into the well. even though every commit you talk to says, household balance sheets are the key to recovery. we need to get household balance sheets. we have all this overhang of debt. we need principal write downs. it has completely disappeared from the system. >> it doesn't make sense to anybody. i am listening to you and it doesn't make sense. >> that's why they pay me the big bu...

Of money the eu or international monetary fund is willing to give them? do we know? >> concern has always been not so much if greece failed. there is what most people suggest is enough money kind of within the european firewall, their own t.a.r.p., the bailout funds they've put together, to bail out greece. the question is, of course, whether or not a greek failure would spill over to larger economies like italy and spain. that's the real question. is there enough money for those countries? one of the big debates around greece's failure is whether or not private investors in its debt, that is ...

And amongst that group, how many have remained current on their payments but are still going to be able to take advantage of refinancing into a lower rate. so what you start to see that we're focusing in on a very, very small subset of the homeowners out there that would potentially be eligible for this program and might benefit from it. jenna: you add all that i see how the column gets narrower and narrow who this would actually affect. >> that's right. jenna: you mentioned fannie mae and freddie mac. this would be affecting loans that are not a part of that group. >> exactly. jenna: aren't m...

Our economy. state attorneys general meeting in washington to talk about their fight to try to fix the nation's dysfunctional housing system, floating a plan that would impose some new requirements on banks, but includes no financial or criminal penalties for past violations or any major reforms for what happens now. that plan not good enough for understandable reasons for many homeowners. protesters hitting d.c. monday to demand actual real solutions, including principal write-downs and mandatory loan modifications for banks who lent money they never had, were bailed out to collect their bonu...