there are certain things that were in the press and the most troubling loan we had was actually to the octo mom. we worked very, very hard and we worked very, very hard to move her to another home that they could afford. but i can assure you that as chairman of the bank, i took these issues very seriously. it s not to say that we didn t have certain mistakes. there were mistakes, we regret those mistakes. as i mentioned, we had hundreds of thousands of delinquent loans. just as an aside, when you talk about loan modifications, banks are highly incented to make loan modifications. anybody who thinks we made more money on a loan is mistaken.
senator pat roberts known for having something of a dry sense of humor. clearly it was not taken as humor by the democrats who take it seriously. it shows you how on edge people are going into this hearing and a lot of it has to do with the issue of the financial crisis and the housing collapse and steve mnuchin s involvement, a company he ran called one west financial that was foreclosing on americans and also on elderly people who had taken out what is known as reverse mortgages where the bank agrees to buy the house, let the person continue to live in it. we ve spoken to a couple people today who found out in very difficult circumstances the bank was going to try to force them to move out of their homes. that s what you can expect the focus to be today over the next couple of hours. given his role, if he does get confirmed leading treasury, a lot of attention being paid to
it s a complicated issue. can you just answer the question? the short answer is yes. as i said before, i think that i would work with the irs and with congress, as i ve said. it makes no sense that we have all these requirements to set up these offshore entities, which again didn t benefit me but did benefit certain nonprofits and pensions, and we should address the issues for nonprofits and pensions and understand why they need to invest through these offshore funds. i wouldn t want to do anything that s detrimental to the pension holders or these nonprofits but i would commit to work with your office, senator, and make sure that we fix the system. all right. we talked about indy bank yesterday and becoming one west and you said you bought when you