Fed to curb shady home-lending practices/ AP

[JoeB]

The Federal Reserve will issue new rules next week aimed at protecting future homebuyers from dubious lending practices, its most sweeping response to a housing crisis that has propelled foreclosures to record highs.
see article for more info.

Anything the government gets involved with usually goes to s**t!

 

[Lost Cause]

Waste Of Time And Effort

Why bother with new rules when there's never been any enforcement of the already-existing ones?

 

[Kevin Mc]

The Federal Reserve will issue new rules next week aimed at protecting future homebuyers from dubious lending practices, its most sweeping response to a housing crisis that has propelled foreclosures to record highs.
see article for more info.

Anything the government gets involved with usually goes to s**t!

Welcome to the party Uncle Sam, sorry to say it is over. What a joke.

 

[timd354]

Congratulations to the Fed for trying to cover their rear ends with new regulations...its too bad that the Fed's non-enforcement of the existing regulations has already led to a meltdown of our financial and banking systems and the taxpayers are undoubtedly going to be on the hook for hundreds of billions of dollars to bail out the system.

 

[OCApp]

"Anything the government gets involved with usually goes to s**t!"

I generally agree with this statement, but look at the mess we're in now since the government (and governmental agencies) stepped back several years and allowed lenders to stop qualifying borrowers and make whatever type of loans they want.

 

[moh malekpour]

The fed rhetoric doesn’t make sense now but it sounds funny. It is like closing the barn when all horses are out.

 

[J in Florida]

Paulsen was just speaking on CNBC and he had this novel concept of holding bond issuers and loan originators responsible and liable for bad loans.

No way. Ya think????


Seriously I always thought these were in place but the were just never enforced, or never enforced on the big boys.

 

[Hamlet]

Holding those responsible for the bad loans would be justice and would be the only thing to prevent future shenanigans.