FEDS: Leave Mortgage Industry Alone?

[Julio E. Sune Jr. (FL)]

http://realtytimes.com/rtpages/20080611_millerreport.htm

"According to Attorney General Michael B. Mukasey there's no need for a federal task-force to unearth big-name mortgage fraud."

"Federal regulators did nothing while national lenders issued millions of toxic loans during the past five years and booked huge short-term profits. They now want state regulators to examine national banks, knowing full well the state regulators lack the authority to do so."

So.......now we are to get a bond to solve the above???????..........No way!!!!!!!

 

[Lost Cause]

There's certainly no doubt that the complete lack of enforcement from federal regulators is not simple incompetance. It is obviously purposeful. The question is, to what purpose?

 

[moh malekpour]

There's certainly no doubt that the complete lack of enforcement from federal regulators is not simple incompetance. It is obviously purposeful. The question is, to what purpose?

To create a false impression that the economy was booming.

 

[Workbox]

To create a false impression that the economy was booming.

I'm telling you, after the elections, they are going to cut loose the rope. All the Good Ole Boys and Girls are filling their pockets before it all goes to H$!!.

 

[TJSum]

Hopefully this link works http://www.washingtonpost.com/wp-dyn/content/article/2008/06/09/AR2008060902626.html

It was in the Washington Post yesterday and does a good job of explaining the motivations and attitudes of the policy makers.

 

[TJSum]

Now lets see the attitudes of today to see what changes have been made...

http://www.washingtonpost.com/wp-dyn/content/article/2008/06/08/AR2008060801426.html

Oh, and don't forget to take $40,000 out of your petty cash to pony up for that bond in order to fix everything.

 

[Jonsey]

Oh, and don't forget to take $40,000 out of your petty cash to pony up for that bond in order to fix everything.

[/QUOTE]

Considering the HVCC, this bond business reeks of AMC influence.

 

[tjcou812]

This just makes me sick. They will get away with a slap on the wrist and us appraisers will have to pay the piper for their greed.

 

[Julio E. Sune Jr. (FL)]

QUOTE___"This just makes me sick. They will get away with a slap on the wrist and us appraisers will have to pay the piper for their greed."

The question is.....What can we do about it????

Fight back!!!! [PC]