clearly played a role in many of their students and votes on the recovery act. i don t think that is any big secret. republicans basically when the jobless rate to stay above 10% i think the president would like democrats and republicans alike to prove to the american people that we can set aside whatever narrow political agenda anybody has in order to address the severity of the economic downturn and joblessness that s resulted from it and i can think of nothing better than taking the president up on again the ideas that have normally enjoyed very bipartisan support increasing our investment in infrastructure which will create jobs and help hundreds of thousands of small businesses across the country in terms of getting access to credit, tax incentives for hiring. look, again, the most important thing is those things in a non-partisan environment would get the support of republicans and democrats alike. i don t think that should be any different with this president, no
. . that ensures the lender has is complete picture of the borrower s financial situation as possible. to this end i was very troubled to learn some modifications are being performed with minimal documentation. after all it was this practice of no or low documentation that helped create a housing crisis we face today. we should not be in the business of perpetuating this practice. according to the treasury department, 375,000 trial modifications are set to convert to permanent modification by the end of the year however, jpmorgan chase recently disclosed in november, close to 25% of the trial modifications failed to meet the first payment of nearly 50% of borrowers field to mccaul three payments. furthermore federal reserve bank of boston sites 30 to 45% of borrowers who received modifications in up in default within six months. this raises some significant concerns i think about the ability of these programs to meet while a long-term expectations outlined earlier this year.