On December 2, Mr. Cohen discussed the health of the mortgage industry in a video interview with The Deal. “I think the industry is in fair shape,” Mr. Cohen said. “I think the basic problem is we still don't have a private sector that can originate and hold residential mortgages, and that should be the highest priority of additional regulatory reform.” He pointed to Canada, which has high home ownership and ten-year floating rates, as a model for the United States. “We need a prudent mortgage market but what we also need is a mortgage market where there are terms which permit banks to hold mortgages,” he said. “The idea of a 30-year fixed-rate mortgage is just nonsensical.”