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Further evidence that bankers control their regulators


By curious2   Follow   Sat, 5 Jan 2013, 2:42pm PST   276 views   2 comments
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"A settlement reportedly in the works with big banks will soon end a review into foreclosure abuses, and it means more of the same: no accountability for financial institutions and little help for borrowers.
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it is another gift to the banks.
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Let’s not forget that this looming settlement will also conclude the foreclosure reviews that were supposed to provide regulators with chapter and verse on how banks abused their customers."

http://www.nytimes.com/2013/01/06/business/bank-settlement-may-leave-tiny-slices-of-a-smaller-pie.html?_r=0

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Oxygen   Sat, 5 Jan 2013, 7:28pm PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 1

regulatory capture will never stop

curious2   Sun, 6 Jan 2013, 1:38am PST   Share   Quote   Permalink   Like   Dislike     Comment 2

This is the sad denouement of the bubble saga that inspired PatNet. We had a bubble while regulators cheered the infallible "free market" awarding huge bonuses to supposedly brilliant bankers. Now we have a lemon socialist bailout while government props up prices and even higher bonuses for those same bankers. The problem isn't necessarily too much government nor too little, it's that captured government is part of the problem not the solution.

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