Indeed. I have many more slides. I have a map of the United States showing the degrees of foreclosures and failures. The two coasts of the United States have overwhelmingly received the worst. They have been affected the worst. The inland or the heartland, or the states in the interior, had a much more modest housing bubble and a much more modest decline. Therefore, they had much more modest losses.
On March 24th, 2009. See this statement in context.