(Edit Update - August 28, 2012 - 7:00pm) I am adding Vicky Henry's full quote just in case the link ever goes bad.
"We need a Darwinian flush for the housing market to recover," Henry said at a Foreclosure Prevention Summit sponsored by the city of Las Vegas at Historic Fifth Street School. "We cannot start recovery from the middle. We have to start from the bottom and I think it's reasonable to say we haven't reached the bottom yet. We need to let the foreclosure process work with some regulation and let the market come down as far as it's going to go."